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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
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GJEPC Launches Identity Cards for Artisans
Mumbai: Hon. Union Minister for Commerce & Industry and Aviation Shri Suresh Prabhu launched Parichay Card (ldentity) for gem & jewellery sector workers, artisans and craftsmen in India – an initiative by The Gem & Jewellery Export Promotion Council (GJEPC), the apex body of the gems & jewellery industry. Shri Suresh Prabhu, Hon. Union Minister for Commerce & Industry and Civil Aviation,
Zimbabwe Selects Alrosa, Anjin for Mining
Harare: Russia’s Alrosa and Chinese partly owned Anjin have been selected by the Zimbabwe government as the two foreign companies to partner the state-diamond firm in exploring and mining diamonds, according to a report published in local newspaper. “The President has put the Zimbabwean interest at the heart of exploitation of those diamonds only accepting foreign participation by way of
Kashi Jewellers Honoured with ‘No.1 Exporter Award’
Lucknow: Kashi Jewellers has won UP Government’s No. 1 Exporter Award in the Gems and Jewellery Industry on 24th January 2019 in Lucknow, the award was presented to Mr. Shreyansh Kapoor, Vice-President, Kashi Jewellers by honorable Governor Mr. Ram Naik and the Chief Minister Mr. Yogi Adityanath. Established in 1955, Kashi Jewellers has made its presence felt both nationally and
De Beers Releases Q4 Production Report
London: De Beers reported that rough diamond sales volumes totaled 9.9 million carats (9.2 million carats on a consolidated basis) from three sales cycles, compared with 8.2 million carats (7.5 million carats on a consolidated basis) from the same number of sales cycles during the equivalent period in 2017. Fourth quarter rough sales revenues increased year on year as the
GJEPC Launches Identity Cards for Artisans
Mumbai: Hon. Union Minister for Commerce & Industry and Aviation Shri Suresh Prabhu launched Parichay Card (ldentity) for gem & jewellery sector workers, artisans and craftsmen in India – an initiative by The Gem & Jewellery Export Promotion Council (GJEPC), the apex body of the gems & jewellery industry. Shri Suresh Prabhu, Hon. Union Minister for Commerce & Industry and Civil Aviation,
Zimbabwe Selects Alrosa, Anjin for Mining
Harare: Russia’s Alrosa and Chinese partly owned Anjin have been selected by the Zimbabwe government as the two foreign companies to partner the state-diamond firm in exploring and mining diamonds, according to a report published in local newspaper. “The President has put the Zimbabwean interest at the heart of exploitation of those diamonds only accepting foreign participation by way of
Kashi Jewellers Honoured with ‘No.1 Exporter Award’
Lucknow: Kashi Jewellers has won UP Government’s No. 1 Exporter Award in the Gems and Jewellery Industry on 24th January 2019 in Lucknow, the award was presented to Mr. Shreyansh Kapoor, Vice-President, Kashi Jewellers by honorable Governor Mr. Ram Naik and the Chief Minister Mr. Yogi Adityanath. Established in 1955, Kashi Jewellers has made its presence felt both nationally and
De Beers Releases Q4 Production Report
London: De Beers reported that rough diamond sales volumes totaled 9.9 million carats (9.2 million carats on a consolidated basis) from three sales cycles, compared with 8.2 million carats (7.5 million carats on a consolidated basis) from the same number of sales cycles during the equivalent period in 2017. Fourth quarter rough sales revenues increased year on year as the
