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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
5% VAT in UAE to Hurt India’s Exports: GJEPC
Mumbai: Starting January 1, the UAE (United Arab Emirates) will impose a 5% VAT on most goods and services, including rough and polished diamonds and gold. Now, Praveen Shankar Pandya, Chairman of the Gem & Jewellery Export Promotion Council (GJEPC) says that the tax will hurt gold jewelry exports from India as the UAE is one of the major buyers
Nilesh Sheth is New President of IDCA
The Board of Directors of the Indian Diamond and Colorstone Association (IDCA) is pleased to announce Nilesh Sheth of Nice Diamonds was elected as the new President of Association and Shailesh Jhalani of Prompt Gem Importers Inc. was elected for the Vice-President’s role at their meeting held on December 11. Joining the IDCA Board’s Executive Committee are Shrenil Bhansali of
Aisshpra Gems & Jewels Bags New Award
Jaipur: Aisshpra Gems & Jewels was awarded as the ”Temple Jewellery of The Year’ for its intricate craftsmanship at JJS-IJ Jewellers Choice Awards 2017, a platform which recognises and promotes talent and creativity of the most celebrated retail jewellery brands in the industry by felicitating them. The award was received by Mr. Atul Saraf, Director, Aisshpra Gems & Jewels at the
ALROSA to Hold Auction of Special Size Rough
Moscow: ALROSA is planning to hold 30 international auctions for the sale of special size natural rough diamonds over 10.8 carats next year. Two auctions will be held in New York where ALROSA’s trade office will resume its full-scale operation. Five auctions will be held in the first quarter, 10 in second quarter, six in the third quarter, and nine
5% VAT in UAE to Hurt India’s Exports: GJEPC
Mumbai: Starting January 1, the UAE (United Arab Emirates) will impose a 5% VAT on most goods and services, including rough and polished diamonds and gold. Now, Praveen Shankar Pandya, Chairman of the Gem & Jewellery Export Promotion Council (GJEPC) says that the tax will hurt gold jewelry exports from India as the UAE is one of the major buyers
Nilesh Sheth is New President of IDCA
The Board of Directors of the Indian Diamond and Colorstone Association (IDCA) is pleased to announce Nilesh Sheth of Nice Diamonds was elected as the new President of Association and Shailesh Jhalani of Prompt Gem Importers Inc. was elected for the Vice-President’s role at their meeting held on December 11. Joining the IDCA Board’s Executive Committee are Shrenil Bhansali of
Aisshpra Gems & Jewels Bags New Award
Jaipur: Aisshpra Gems & Jewels was awarded as the ”Temple Jewellery of The Year’ for its intricate craftsmanship at JJS-IJ Jewellers Choice Awards 2017, a platform which recognises and promotes talent and creativity of the most celebrated retail jewellery brands in the industry by felicitating them. The award was received by Mr. Atul Saraf, Director, Aisshpra Gems & Jewels at the
ALROSA to Hold Auction of Special Size Rough
Moscow: ALROSA is planning to hold 30 international auctions for the sale of special size natural rough diamonds over 10.8 carats next year. Two auctions will be held in New York where ALROSA’s trade office will resume its full-scale operation. Five auctions will be held in the first quarter, 10 in second quarter, six in the third quarter, and nine
