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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
Angadias Suspend Diamond Operations
Mumbai: India’s export of polished diamonds has lost its sparkle ever since angadias, or couriers, suspended their operations following raids by the authorities earlier this month over suspected tax evasion, says an Economic Times report. The angadias, who have been ferrying rough diamonds from Mumbai to Surat and polished diamonds from Surat to Mumbai, have decided not to resume work
Gold Demand to Get Boost in 2018: WGC
Mumbai: Gold demand will get a fillip from government policies targeted at transparency and economic growth, according to the World Gold Council (WGC). “In India, the second largest gold market in the world, we believe that after their initial implementation shock, policies such as the demonetisation initiative and the new Goods and Service Tax (GST) will start to have a
Gem Certification and Assurance Lab Joins IGDA
Morrisville: The International Grown Diamond Association (IGDA) has announced the addition of Gem Certification and Assurance Lab (GCAL) as a member. GCAL becomes the first diamond and gemstone laboratory to join the organization. With almost 40 members, which includes leading lab-grown diamond growers, distributors, suppliers, retailers and technical experts, IGDA members now span across US, China, Singapore, India, Philippines, Russia,
De Beers Progresses in Blockchain Initiative
London: De Beers Group has announced it is progressing development of the first blockchain technology initiative to span the diamond value chain and provide a single, tamper-proof and permanent digital record for every diamond registered on the platform. The initiative will underpin confidence in diamonds and the diamond industry by ensuring that all registered diamonds are conflict-free and natural, while
Angadias Suspend Diamond Operations
Mumbai: India’s export of polished diamonds has lost its sparkle ever since angadias, or couriers, suspended their operations following raids by the authorities earlier this month over suspected tax evasion, says an Economic Times report. The angadias, who have been ferrying rough diamonds from Mumbai to Surat and polished diamonds from Surat to Mumbai, have decided not to resume work
Gold Demand to Get Boost in 2018: WGC
Mumbai: Gold demand will get a fillip from government policies targeted at transparency and economic growth, according to the World Gold Council (WGC). “In India, the second largest gold market in the world, we believe that after their initial implementation shock, policies such as the demonetisation initiative and the new Goods and Service Tax (GST) will start to have a
Gem Certification and Assurance Lab Joins IGDA
Morrisville: The International Grown Diamond Association (IGDA) has announced the addition of Gem Certification and Assurance Lab (GCAL) as a member. GCAL becomes the first diamond and gemstone laboratory to join the organization. With almost 40 members, which includes leading lab-grown diamond growers, distributors, suppliers, retailers and technical experts, IGDA members now span across US, China, Singapore, India, Philippines, Russia,
De Beers Progresses in Blockchain Initiative
London: De Beers Group has announced it is progressing development of the first blockchain technology initiative to span the diamond value chain and provide a single, tamper-proof and permanent digital record for every diamond registered on the platform. The initiative will underpin confidence in diamonds and the diamond industry by ensuring that all registered diamonds are conflict-free and natural, while
