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The 200-Day Held: Now Comes the Test That Decides Whether the Bounce is a Reversal
Macro Snapshot: The week ending July 3 broke a five-week decline for both gold and silver. Gold posted its first weekly gain since late May and silver led the recovery with a much larger move. The trigger was a weaker-than-expected US jobs report, which reset rate-hike expectations and pushed the dollar to its largest weekly decline since April. Layered underneath were two other significant developments: the release of the World Gold Council’s Mid-Year Outlook on Tuesday July 1 (covered in
The 200-Day Held: Now Comes the Test That Decides Whether the Bounce is a Reversal
Macro Snapshot: The week ending July 3 broke a five-week decline for both gold and silver. Gold posted its first weekly gain since late May and silver led the recovery with a much larger move. The trigger was a weaker-than-expected US jobs report, which reset rate-hike expectations and pushed the dollar to its largest weekly decline since April. Layered underneath were two other significant developments: the release of the World Gold Council’s Mid-Year Outlook on Tuesday July 1 (covered in
Top News
Will Diamond Prices Slump 10% in 2018?
Mumbai: Diamonds are set to slump further, according to a hedge fund whose bet on marijuana made it the world’s best performer in 2016. Prices of the precious gem may slump as much as 10 per cent this year as it loses appeal with younger consumers and faces challenges from synthetic alternatives, said Singapore-based Ben Cleary, who co-manages the $500
Q4 Recovery Fails to Mitigate Full Year Declines in '17
Mumbai: Gold demand rallied in the closing months of 2017, gaining 6% year-on-year in Q4 to reach 1,095.8 tonnes (t). However, overall demand for the full year fell by 7% to 4,071.7t, compared with 2016, according to the World Gold Council’s (WGC) latest Gold Demand Trends report. Inflows into exchange-traded funds (ETFs) continued steadily throughout the year, totalling 202.8t, but
IDE Dedicates Diamond Tech Innovation Center
Ramat Gan: On the second day of the 7th International Diamond Week (IDWI), the Israel Diamond Exchange (IDE) officially launched its new innovation center Diamond Tech. The technological incubator, located within the IDE complex, will host and support diamond related start-ups in a variety of fields. Through this initiative, IDE will promote new technologies that will bring added value to
Nirav Modi Booked in Bank Cheating Case
New Delhi: The Central Bureau of Investigation (CBI) has booked billionaire jeweller Nirav Modi, his wife, brother and partners for allegedly cheating Punjab National Bank (PNB) of Rs. 280.7 crore, reports the livemint. The agency acted on a 29 January complaint from the state-owned lender, which alleged these people conspired with some of its own officials, causing the bank “wrongful
Will Diamond Prices Slump 10% in 2018?
Mumbai: Diamonds are set to slump further, according to a hedge fund whose bet on marijuana made it the world’s best performer in 2016. Prices of the precious gem may slump as much as 10 per cent this year as it loses appeal with younger consumers and faces challenges from synthetic alternatives, said Singapore-based Ben Cleary, who co-manages the $500
Q4 Recovery Fails to Mitigate Full Year Declines in '17
Mumbai: Gold demand rallied in the closing months of 2017, gaining 6% year-on-year in Q4 to reach 1,095.8 tonnes (t). However, overall demand for the full year fell by 7% to 4,071.7t, compared with 2016, according to the World Gold Council’s (WGC) latest Gold Demand Trends report. Inflows into exchange-traded funds (ETFs) continued steadily throughout the year, totalling 202.8t, but
IDE Dedicates Diamond Tech Innovation Center
Ramat Gan: On the second day of the 7th International Diamond Week (IDWI), the Israel Diamond Exchange (IDE) officially launched its new innovation center Diamond Tech. The technological incubator, located within the IDE complex, will host and support diamond related start-ups in a variety of fields. Through this initiative, IDE will promote new technologies that will bring added value to
Nirav Modi Booked in Bank Cheating Case
New Delhi: The Central Bureau of Investigation (CBI) has booked billionaire jeweller Nirav Modi, his wife, brother and partners for allegedly cheating Punjab National Bank (PNB) of Rs. 280.7 crore, reports the livemint. The agency acted on a 29 January complaint from the state-owned lender, which alleged these people conspired with some of its own officials, causing the bank “wrongful
