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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
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India Gold & Jewellery Summit ends With Success
New Delhi: The first-ever two-day national summit (India Gold & Jewellery Summit) organized by the Gem & Jewellery Export Promotion Council (GJEPC) with Lead Partner World Gold Council (WGC) over the weekend concluded on a positive note as the Hon’ble Union Minister of Commerce & Industry Shri Suresh Prabhu and Commerce Secretary Ms. Rita Teaotia underlined the need of a
GJF President Expresses Concern
Mumbai: Mr. Nitin Khandelwal, Chairman, All India Gems and Jewellery Trade Federation (GJF) has expressed concern over unconfirmed reports that the Union Finance Ministry is being urged to work on a package to reduce the import duty of gold while increasing the GST (Goods and Services Tax) rates for the Gems & Jewellery sector. “Based on Revenue Equivalent Principle, we
De Beers Plans for Forward Contracts
De Beers Group announced that its Auction Sales business is to transition Fixed-Price Forward Contracts to core business status, following the success of the pilot programme that was launched in January 2017. Fixed-Price Forward Contracts offer the opportunity for Auction Sales customers to secure guaranteed access to bespoke future supply contracts, with certainty over the price to be paid when
CIBJO Supports De Beers Plan on Blockchain Tech.
Milan: CIBJO President Gaetano Cavalieri has voiced the World Jewellery Confederation’s support for a De Beers development project that employs blockchain technology, which was announced on December 4 by the group’s CEO, Bruce Cleaver. When operational, it should enable a diamond’s journey through the value chain to be recorded in a secure digital registry by all parties handling the stone,
India Gold & Jewellery Summit ends With Success
New Delhi: The first-ever two-day national summit (India Gold & Jewellery Summit) organized by the Gem & Jewellery Export Promotion Council (GJEPC) with Lead Partner World Gold Council (WGC) over the weekend concluded on a positive note as the Hon’ble Union Minister of Commerce & Industry Shri Suresh Prabhu and Commerce Secretary Ms. Rita Teaotia underlined the need of a
GJF President Expresses Concern
Mumbai: Mr. Nitin Khandelwal, Chairman, All India Gems and Jewellery Trade Federation (GJF) has expressed concern over unconfirmed reports that the Union Finance Ministry is being urged to work on a package to reduce the import duty of gold while increasing the GST (Goods and Services Tax) rates for the Gems & Jewellery sector. “Based on Revenue Equivalent Principle, we
De Beers Plans for Forward Contracts
De Beers Group announced that its Auction Sales business is to transition Fixed-Price Forward Contracts to core business status, following the success of the pilot programme that was launched in January 2017. Fixed-Price Forward Contracts offer the opportunity for Auction Sales customers to secure guaranteed access to bespoke future supply contracts, with certainty over the price to be paid when
CIBJO Supports De Beers Plan on Blockchain Tech.
Milan: CIBJO President Gaetano Cavalieri has voiced the World Jewellery Confederation’s support for a De Beers development project that employs blockchain technology, which was announced on December 4 by the group’s CEO, Bruce Cleaver. When operational, it should enable a diamond’s journey through the value chain to be recorded in a secure digital registry by all parties handling the stone,
