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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
India’s Diamond Exports up 49.5% in Nov
Mumbai: Contrary to the fears, the exports from gems and jewellery has increased 27.25% per cent at US$ 3.27 billion during the month of November as compared to the same period last year. The increase was driven by a sharp increase in both exports of polished diamonds and jewellery as compared to the same month a year earlier, according to
India to Become Vice Chair of KP in 2018
Brisbane: At the recently concluded Plenary Meeting of the Kimberly Process (KP) that was held in Brisbane, Australia from December 9-14, 2017, India was appointed as the Vice-Chair of the KP for the year 2018. While the European Union (EU) will take the Chair for 2018, India will assume the role of the KP Chair in 2019. This is in
Naga Chaitanya Chooses Platinum for Distinctive Style
Hyderabad: Amidst much fanfare, South India’s favourite actor, Naga Chaitanya unveiled an unique range of Platinum Men’s jewellery inspired by the international trend of “Bold Minimalism” at the Joyalukkas store in Hyderabad recently. Naga Chaitanya, looking suave wearing a Platinum bracelet and chain, his two favourite pieces from the new collection was joined by Mr. Rajesh Krishnan (Manager- Retail, Joyalukkas-Indian
‘Impact’ Leaves Kimberley Process
Brisbane: Impact, a founding member has withdrawn from the Kimberley Process (KP), claiming that the conflict diamond certification scheme has lost its legitimacy. Impact says the internal controls used by governments do not provide the evidence of traceability and due diligence needed to ensure a clean, conflict-free, and legal diamond supply chain. “Consumers have been given a false confidence about
India’s Diamond Exports up 49.5% in Nov
Mumbai: Contrary to the fears, the exports from gems and jewellery has increased 27.25% per cent at US$ 3.27 billion during the month of November as compared to the same period last year. The increase was driven by a sharp increase in both exports of polished diamonds and jewellery as compared to the same month a year earlier, according to
India to Become Vice Chair of KP in 2018
Brisbane: At the recently concluded Plenary Meeting of the Kimberly Process (KP) that was held in Brisbane, Australia from December 9-14, 2017, India was appointed as the Vice-Chair of the KP for the year 2018. While the European Union (EU) will take the Chair for 2018, India will assume the role of the KP Chair in 2019. This is in
Naga Chaitanya Chooses Platinum for Distinctive Style
Hyderabad: Amidst much fanfare, South India’s favourite actor, Naga Chaitanya unveiled an unique range of Platinum Men’s jewellery inspired by the international trend of “Bold Minimalism” at the Joyalukkas store in Hyderabad recently. Naga Chaitanya, looking suave wearing a Platinum bracelet and chain, his two favourite pieces from the new collection was joined by Mr. Rajesh Krishnan (Manager- Retail, Joyalukkas-Indian
‘Impact’ Leaves Kimberley Process
Brisbane: Impact, a founding member has withdrawn from the Kimberley Process (KP), claiming that the conflict diamond certification scheme has lost its legitimacy. Impact says the internal controls used by governments do not provide the evidence of traceability and due diligence needed to ensure a clean, conflict-free, and legal diamond supply chain. “Consumers have been given a false confidence about
