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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
Zimbabwe May End Majority Black Ownership Rule
Harare: Last December, the Government of Zimbabwe announced it would be relaxing laws that require black citizens hold majority stakes (51%) in companies as it looks to restore confidence and boost economic growth. At the time, President Emmerson Mnangagwa said, “Zimbabwe is now open for business, and is putting in place supportive measures that seek to rebuild confidence and compete
IIGJ Inaugurated in Varanasi
Varanasi (UP, India): The Indian Institute of Gems and Jewellery (IIGJ), Varanasi, an educational venture of the Gems and Jewellery Export Promotion Council (GJEPC) starts its maiden operation in the historical city of art and culture, Varanasi. The premier Gem & Jewellery Institute was Inaugurated by Chief Minister of Uttar Pradesh, Mr. Adityanath Yogi & Mr. Amit Shah, BJP President
Mujeres Billantes World Tour 2018
Panama: Mujeres Brillantes, an association founded in 2016 that serves as an empowering platform for women jewelers around the world, starts this new year with the right foot. As a new year brings new goals, Mujeres Brillantes welcomed 2018 with its first World Tour. Reaffirming her commitment to Mubri, Ali Pastorini, founder and president, started the tour in Panama where
WFDB Congratulates New Officers of GJEPC
Antwerp: World Federation of Diamond Bourses (WFDB) President Ernie Blom has expressed his congratulations to the newly elected President and Vice-President of India’s Gem and Jewellery Export Promotion Council (GJEPC) following elections for the top positions. Pramod Kumar Agarwal has been elected as Chairman for the period of 2018 to 2020, while Colin Shah has been elected as the Vice
Zimbabwe May End Majority Black Ownership Rule
Harare: Last December, the Government of Zimbabwe announced it would be relaxing laws that require black citizens hold majority stakes (51%) in companies as it looks to restore confidence and boost economic growth. At the time, President Emmerson Mnangagwa said, “Zimbabwe is now open for business, and is putting in place supportive measures that seek to rebuild confidence and compete
IIGJ Inaugurated in Varanasi
Varanasi (UP, India): The Indian Institute of Gems and Jewellery (IIGJ), Varanasi, an educational venture of the Gems and Jewellery Export Promotion Council (GJEPC) starts its maiden operation in the historical city of art and culture, Varanasi. The premier Gem & Jewellery Institute was Inaugurated by Chief Minister of Uttar Pradesh, Mr. Adityanath Yogi & Mr. Amit Shah, BJP President
Mujeres Billantes World Tour 2018
Panama: Mujeres Brillantes, an association founded in 2016 that serves as an empowering platform for women jewelers around the world, starts this new year with the right foot. As a new year brings new goals, Mujeres Brillantes welcomed 2018 with its first World Tour. Reaffirming her commitment to Mubri, Ali Pastorini, founder and president, started the tour in Panama where
WFDB Congratulates New Officers of GJEPC
Antwerp: World Federation of Diamond Bourses (WFDB) President Ernie Blom has expressed his congratulations to the newly elected President and Vice-President of India’s Gem and Jewellery Export Promotion Council (GJEPC) following elections for the top positions. Pramod Kumar Agarwal has been elected as Chairman for the period of 2018 to 2020, while Colin Shah has been elected as the Vice
