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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
SBI to Tighten G&J Sector’s Borrowing Norms
Mumbai: State Bank of India, India’s largest lender, is tightening the noose around borrowers in the gems and jewellery sector by telling them to either bring in more collaterals to back the existing borrowings or reduce the size of it in a time-bound manner, reports The Economic Times. The decision was driven by the board which directed the management to
GJEPC Opens CFC at Amreli
Amreli (Gujarat, India): Gem & Jewellery Export Promotion Council (GJEPC), the apex body of Indian Gem & Jewellery Industry has established its third Common Facility Centre(CFC) also locally known as ‘Ratna Abhushan Suvidha Kendra’ at Amreli in Gujarat yesterday. Mr. Suresh Prabhu, Union Minister of Commerce & Industry inaugurated the CFC in the presence of Mr. Naran Kachhadia, MP, Lok
UN Expresses Satisfaction with Progress by KP
New York: The General Assembly of the United Nations (UN), welcoming progress made by the Kimberley Process Certification Scheme (KP) to break links between the diamond trade and conflict, today adopted a consensus resolution aimed at intensifying that work and aligning it with the 2030 Agenda for Sustainable Development. Julie Bishop, Minister for Foreign Affairs of Australia, introduced the draft
CARAT+ Welcomes AWDC as Main Partner
Antwerp: CARAT+, The World’s Premier Diamond Event to be organized on 6, 7 & 8 May 2018 at Antwerp Expo in Antwerp, Belgium, has welcomed the Antwerp World Diamond Centre (AWDC) as its Main Partner for the 2018 edition. United by a shared commitment to Antwerp as the ‘Diamond Capital of the World’, AWDC will host a series of unique
SBI to Tighten G&J Sector’s Borrowing Norms
Mumbai: State Bank of India, India’s largest lender, is tightening the noose around borrowers in the gems and jewellery sector by telling them to either bring in more collaterals to back the existing borrowings or reduce the size of it in a time-bound manner, reports The Economic Times. The decision was driven by the board which directed the management to
GJEPC Opens CFC at Amreli
Amreli (Gujarat, India): Gem & Jewellery Export Promotion Council (GJEPC), the apex body of Indian Gem & Jewellery Industry has established its third Common Facility Centre(CFC) also locally known as ‘Ratna Abhushan Suvidha Kendra’ at Amreli in Gujarat yesterday. Mr. Suresh Prabhu, Union Minister of Commerce & Industry inaugurated the CFC in the presence of Mr. Naran Kachhadia, MP, Lok
UN Expresses Satisfaction with Progress by KP
New York: The General Assembly of the United Nations (UN), welcoming progress made by the Kimberley Process Certification Scheme (KP) to break links between the diamond trade and conflict, today adopted a consensus resolution aimed at intensifying that work and aligning it with the 2030 Agenda for Sustainable Development. Julie Bishop, Minister for Foreign Affairs of Australia, introduced the draft
CARAT+ Welcomes AWDC as Main Partner
Antwerp: CARAT+, The World’s Premier Diamond Event to be organized on 6, 7 & 8 May 2018 at Antwerp Expo in Antwerp, Belgium, has welcomed the Antwerp World Diamond Centre (AWDC) as its Main Partner for the 2018 edition. United by a shared commitment to Antwerp as the ‘Diamond Capital of the World’, AWDC will host a series of unique
