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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
Gemfields Achieves Record Ruby Auction Results
London: Gemfields has announced the results of an auction of rough rubies held in Singapore from 5 – 9 June 2018. The rough rubies were extracted from the licence held and operated by Montepuez Ruby Mining Limitada (“MRM”), which is 75% owned by Gemfields and 25% by local partner Mwiriti Limitada. Highlights – Ruby Auction: Auction revenues of USD 71.8
China Cuts Import Tariffs on 18 Jewellery Categories
Beijing: China will be slashing import taxes on jewellery, as part of tariff reductions on a wide range of consumer goods, as of July 1. The Customs Tariff Commission of the State Council in China issued the “Notice on Reducing the Import Tariffs of Daily Consumer Goods” last week. According to the notice, China will cut Most Favored Nation (MFN)
Zimbabwe will not Recover Missing Diamonds Revenue
Harare: The Mines Parliamentary Portfolio Committee on Thursday ruled that it would be difficult for Zimbabwe to recover its missing diamond revenues from some of the people implicated in the scam, reports NewsDay. The committee told Parliament’s last sitting on Thursday that it was now clear that the country would not recover its $15 billion missing diamonds revenue after former
Tanishq Claims to be the Best for Exchange
Mumbai: Tanishq was the first jeweller in the country to spot the evolving needs of the new Indian jewellery buyer – where the ask was to make gold jewellery more contemporary, design-led and more light where she could wear it every day, not just confining to key occasions. Why upgrade? The unorganised jewellery market in India is 90% and there
Gemfields Achieves Record Ruby Auction Results
London: Gemfields has announced the results of an auction of rough rubies held in Singapore from 5 – 9 June 2018. The rough rubies were extracted from the licence held and operated by Montepuez Ruby Mining Limitada (“MRM”), which is 75% owned by Gemfields and 25% by local partner Mwiriti Limitada. Highlights – Ruby Auction: Auction revenues of USD 71.8
China Cuts Import Tariffs on 18 Jewellery Categories
Beijing: China will be slashing import taxes on jewellery, as part of tariff reductions on a wide range of consumer goods, as of July 1. The Customs Tariff Commission of the State Council in China issued the “Notice on Reducing the Import Tariffs of Daily Consumer Goods” last week. According to the notice, China will cut Most Favored Nation (MFN)
Zimbabwe will not Recover Missing Diamonds Revenue
Harare: The Mines Parliamentary Portfolio Committee on Thursday ruled that it would be difficult for Zimbabwe to recover its missing diamond revenues from some of the people implicated in the scam, reports NewsDay. The committee told Parliament’s last sitting on Thursday that it was now clear that the country would not recover its $15 billion missing diamonds revenue after former
Tanishq Claims to be the Best for Exchange
Mumbai: Tanishq was the first jeweller in the country to spot the evolving needs of the new Indian jewellery buyer – where the ask was to make gold jewellery more contemporary, design-led and more light where she could wear it every day, not just confining to key occasions. Why upgrade? The unorganised jewellery market in India is 90% and there
