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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
Trade Bodies Release Diamond Terminology Guideline
Milan: Nine of the leading diamond and jewellery industry organisations (AWDC, CIBJO, DPA, GJEPC, IDI, IDMA, USJC, WDC and WFDB) have released a jointly developed Diamond Terminology Guideline to encourage full, fair and effective use of a clear and accessible terminology for diamonds and synthetics diamonds by all sector bodies, organisations, traders and retailers. While not legally binding, the Diamond
De Beers’ 1st Cycle Values $665 Million
Gaborone: De Beers sold rough diamonds with a provisional value of $665 million in the first sales cycle (Global Sightholder Sales and Auction Sales) of 2018, due to industry restocking following the holiday sales season. Bruce Cleaver, CEO, De Beers Group, said, “Following positive early signs for diamond jewellery sales over the holiday season in the US, the need for
Jim Vimadalal Appointed Director, Alrosa, Mumbai
Mumbai: Jim Vimadalal, who previously worked at Indian offices of Rio Tinto and Swarovski, was appointed as Director of ALROSA’s representative office in Mumbai. The official opening of the Indian office is scheduled for March 2018. Currently, preparation works for the opening are underway there. Representative office won’t be engaged in trading activity, and will focus on cooperation with local
De Beers Posts 5% Rise in Output in Q4
Gaborone: De Beers reported a five percent rise in rough diamond production for the fourth quarter of 2017 to 8.1 million carats, reflecting stronger trading conditions as well as the contribution from the ramp-up of the Gahcho Kué mine in Canada. In Botswana, production increased marginally to 5.5 million carats. Orapa’s production increased 14 percent, mainly due to planned increases
Trade Bodies Release Diamond Terminology Guideline
Milan: Nine of the leading diamond and jewellery industry organisations (AWDC, CIBJO, DPA, GJEPC, IDI, IDMA, USJC, WDC and WFDB) have released a jointly developed Diamond Terminology Guideline to encourage full, fair and effective use of a clear and accessible terminology for diamonds and synthetics diamonds by all sector bodies, organisations, traders and retailers. While not legally binding, the Diamond
De Beers’ 1st Cycle Values $665 Million
Gaborone: De Beers sold rough diamonds with a provisional value of $665 million in the first sales cycle (Global Sightholder Sales and Auction Sales) of 2018, due to industry restocking following the holiday sales season. Bruce Cleaver, CEO, De Beers Group, said, “Following positive early signs for diamond jewellery sales over the holiday season in the US, the need for
Jim Vimadalal Appointed Director, Alrosa, Mumbai
Mumbai: Jim Vimadalal, who previously worked at Indian offices of Rio Tinto and Swarovski, was appointed as Director of ALROSA’s representative office in Mumbai. The official opening of the Indian office is scheduled for March 2018. Currently, preparation works for the opening are underway there. Representative office won’t be engaged in trading activity, and will focus on cooperation with local
De Beers Posts 5% Rise in Output in Q4
Gaborone: De Beers reported a five percent rise in rough diamond production for the fourth quarter of 2017 to 8.1 million carats, reflecting stronger trading conditions as well as the contribution from the ramp-up of the Gahcho Kué mine in Canada. In Botswana, production increased marginally to 5.5 million carats. Orapa’s production increased 14 percent, mainly due to planned increases
