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Hawkish Fed Comments on Inflation Landed Right at Both Metals’ Supply Zones, and the Correction Wrote Itself
Macro Snapshot: The correction in gold and silver during the week ending August 28 was a confluence event. Both metals had rallied into well-defined supply zones (gold at ₹162,000-164,000, silver at ₹244,000-248,000) and were showing early signs of exhaustion. Into that setup, the July PCE release on August 26 came in hot on the headline (3.7% year over year against 3.6% consensus), and Federal Reserve Chair Kevin Warsh’s August 28 Jackson Hole address leaned decisively hawkish on inflation. The trigger
Hawkish Fed Comments on Inflation Landed Right at Both Metals’ Supply Zones, and the Correction Wrote Itself
Macro Snapshot: The correction in gold and silver during the week ending August 28 was a confluence event. Both metals had rallied into well-defined supply zones (gold at ₹162,000-164,000, silver at ₹244,000-248,000) and were showing early signs of exhaustion. Into that setup, the July PCE release on August 26 came in hot on the headline (3.7% year over year against 3.6% consensus), and Federal Reserve Chair Kevin Warsh’s August 28 Jackson Hole address leaned decisively hawkish on inflation. The trigger
Top News
Jonathan Kendall to Retire from De Beers Group
London: De Beers Group has announced on its official website that after 20 years with the business, Head of De Beers Group Industry Services and Head of Forevermark Operations, Mr. Jonathan (Jonnie) Kendall will be retiring at the end of the year. Jonnie has played an integral role in leading the evolution of many of De Beers Group’s downstream activities
Fancy Color Diamond Prices Slid by 0.7 Per Cent
New York: The Fancy Color Research Foundation (FCRF) yesterday announced the results of the Fancy Color Diamond Index (FCDI) for Q3 2020. 2020 will be remembered as the year the world stood still. Literally, most commercial and cargo flights halted, stores closed down and business resolved to work remotely with no travel to the office. Aligning with the COVID-19 restrictions,
Covid-19 Boosts Demand For Gold Loans in India: WGC
Mumbai: Households and small businesses in India have preferred to pledge gold as collateral to meet financing needs rather than selling it outright during the Covid pandemic, the World Gold Council (WGC) said in a market update titled ‘Gold loans help India weather the Covid-19 storm’. Demand for gold loans, both through banks and non-banking financial companies (NBFCs), has grown
De Beers Report Explores Opportunity in New Normal
Mumbai: De Beers Group yesterday released its 2020 Diamond Insight Report, collating key findings from the company’s consumer research undertaken during the Covid-19 pandemic and highlighting new and accelerated trends as consumers adapt to a new normal. Based on the outcomes of monthly sentiment surveys with US consumers from March to August, three clear findings emerged: consumers are adapting to the new
Jonathan Kendall to Retire from De Beers Group
London: De Beers Group has announced on its official website that after 20 years with the business, Head of De Beers Group Industry Services and Head of Forevermark Operations, Mr. Jonathan (Jonnie) Kendall will be retiring at the end of the year. Jonnie has played an integral role in leading the evolution of many of De Beers Group’s downstream activities
Fancy Color Diamond Prices Slid by 0.7 Per Cent
New York: The Fancy Color Research Foundation (FCRF) yesterday announced the results of the Fancy Color Diamond Index (FCDI) for Q3 2020. 2020 will be remembered as the year the world stood still. Literally, most commercial and cargo flights halted, stores closed down and business resolved to work remotely with no travel to the office. Aligning with the COVID-19 restrictions,
Covid-19 Boosts Demand For Gold Loans in India: WGC
Mumbai: Households and small businesses in India have preferred to pledge gold as collateral to meet financing needs rather than selling it outright during the Covid pandemic, the World Gold Council (WGC) said in a market update titled ‘Gold loans help India weather the Covid-19 storm’. Demand for gold loans, both through banks and non-banking financial companies (NBFCs), has grown
De Beers Report Explores Opportunity in New Normal
Mumbai: De Beers Group yesterday released its 2020 Diamond Insight Report, collating key findings from the company’s consumer research undertaken during the Covid-19 pandemic and highlighting new and accelerated trends as consumers adapt to a new normal. Based on the outcomes of monthly sentiment surveys with US consumers from March to August, three clear findings emerged: consumers are adapting to the new
