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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
Platinum Market Set to be Balanced in 2018
London: Last year, platinum production increased by 1 percent while global demand fell 7 percent year-on-year, leaving the market with a 250,000-ounce surplus. However, the market is expected to return to equilibrium this year, with an estimated small surplus of 25,000 ounces. In 2017, demand was down in the automotive industry. The report states that, “Demand fell 3 percent due
Gold Corporation & Kirkland Lake Gold Join WGC
London: The World Gold Council (WGC), the market development organisation for the gold industry, has welcomed Detour Gold Corporation and Kirkland Lake Gold Ltd. to its Board of Members. Detour Gold Corporation (“Detour”) is a Canadian mid-tier gold mining company, with expected 2018 production to be between 600,000 and 650,000 ounces. Detour owns and operates the Detour Lake mine, one
Forevermark Builds Presence in European Markets
New York: De Beers Group announced that its Forevermark diamond brand will enter the German market for the first time after signing with an exclusive licensee partner, and is in advanced-stage discussions with potential partners in France and Italy. The expansion into new European markets comes on the back of successful global performance throughout 2017 and in 2018 to date.
MGCJ to Launch Synthetic Diamond Identification Kit
Vancouver: One of the highlights of the upcoming 4th Mediterranean Gemmological and Jewellery Conference (MGCJ), to be held May 18-20, in Budva, Montenegro, will be the introduction of an affordable synthetic diamond identification kit and other portable instruments that will enable users to help identify loose and mounted melee-sized synthetic diamonds, as well as larger stones. MGCJ, which is a
Platinum Market Set to be Balanced in 2018
London: Last year, platinum production increased by 1 percent while global demand fell 7 percent year-on-year, leaving the market with a 250,000-ounce surplus. However, the market is expected to return to equilibrium this year, with an estimated small surplus of 25,000 ounces. In 2017, demand was down in the automotive industry. The report states that, “Demand fell 3 percent due
Gold Corporation & Kirkland Lake Gold Join WGC
London: The World Gold Council (WGC), the market development organisation for the gold industry, has welcomed Detour Gold Corporation and Kirkland Lake Gold Ltd. to its Board of Members. Detour Gold Corporation (“Detour”) is a Canadian mid-tier gold mining company, with expected 2018 production to be between 600,000 and 650,000 ounces. Detour owns and operates the Detour Lake mine, one
Forevermark Builds Presence in European Markets
New York: De Beers Group announced that its Forevermark diamond brand will enter the German market for the first time after signing with an exclusive licensee partner, and is in advanced-stage discussions with potential partners in France and Italy. The expansion into new European markets comes on the back of successful global performance throughout 2017 and in 2018 to date.
MGCJ to Launch Synthetic Diamond Identification Kit
Vancouver: One of the highlights of the upcoming 4th Mediterranean Gemmological and Jewellery Conference (MGCJ), to be held May 18-20, in Budva, Montenegro, will be the introduction of an affordable synthetic diamond identification kit and other portable instruments that will enable users to help identify loose and mounted melee-sized synthetic diamonds, as well as larger stones. MGCJ, which is a
