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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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CIBJO Releases Coral Comm's Sp. Report
Milan: With fewer than two weeks to go to the opening of the 2017 CIBJO Congress in Bangkok, Thailand, on November 5, 2017, the eighth and the final of the CIBJO commissions’ Special Reports for this year has been released. Prepared by Vincenzo Liverino, President of the organisation’s Coral Commission, the report calls for an educational campaign to differentiate between
De Beers’ Q3 Production Up by 46%
Gaborone: Anglo American, which today released production figures of its various businesses for the third quarter of 2017, reported that De Beers’ rough diamond production for the period was up 46% over Q3 2016 in carat terms. The increase was “in line with the higher production forecast for 2017, reflecting stable trading conditions as well as the contribution from the
India's Move to Propel Economic Growth
Bengaluru: Government of India’s announcement to infuse INR 2.11 Lakh Crores into Public Sector Banks (PSB) is a credit positive step for the NPA plagued sector, reports Brickwork Ratings. With this Brickwork Ratings expects PSBs credit profile to improve significantly. The agency believes that this step should be monitored by enforcing strict conditions for banks to optimally utilise the allocated
India’s Polished Exports Grew in Sep
Mumbai: India’s polished-diamond exports increased 6% year on year to $2.65 billion in September, according to data released by Gem & Jewellery Export Promotion Council (GJEPC). By volume, exports rose 24% to 3.9 million carats, with the average price down 14% to $677 per carat, the data showed. Polished imports fell 6% to $174 million, meaning net polished exports increased
CIBJO Releases Coral Comm's Sp. Report
Milan: With fewer than two weeks to go to the opening of the 2017 CIBJO Congress in Bangkok, Thailand, on November 5, 2017, the eighth and the final of the CIBJO commissions’ Special Reports for this year has been released. Prepared by Vincenzo Liverino, President of the organisation’s Coral Commission, the report calls for an educational campaign to differentiate between
De Beers’ Q3 Production Up by 46%
Gaborone: Anglo American, which today released production figures of its various businesses for the third quarter of 2017, reported that De Beers’ rough diamond production for the period was up 46% over Q3 2016 in carat terms. The increase was “in line with the higher production forecast for 2017, reflecting stable trading conditions as well as the contribution from the
India's Move to Propel Economic Growth
Bengaluru: Government of India’s announcement to infuse INR 2.11 Lakh Crores into Public Sector Banks (PSB) is a credit positive step for the NPA plagued sector, reports Brickwork Ratings. With this Brickwork Ratings expects PSBs credit profile to improve significantly. The agency believes that this step should be monitored by enforcing strict conditions for banks to optimally utilise the allocated
India’s Polished Exports Grew in Sep
Mumbai: India’s polished-diamond exports increased 6% year on year to $2.65 billion in September, according to data released by Gem & Jewellery Export Promotion Council (GJEPC). By volume, exports rose 24% to 3.9 million carats, with the average price down 14% to $677 per carat, the data showed. Polished imports fell 6% to $174 million, meaning net polished exports increased
