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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 Seminar Supports EU Regulations
Milan: The significance and potential impact on the jewellery industry of Regulation (EU) 2017/821, which will control the import into the European Union of gold, tin, tantalum and tungsten from conflict and high-risk areas, came under the spotlight at a seminar for the jewellery industry in Vicenza on September 24, organised by CIBJO and the Italian Exhibition Group. Participants were
India's GDP Growth to Fall to 6.7% in FY18
New Delhi, (Ind-Ra): Poor gross domestic product (GDP) growth in two successive quarters – 4QFY17 and 1QFY18 – has changed the growth prospects for FY18, says India Ratings and Research (Ind-Ra). The combined effect of demonetisation and introduction of goods and services tax (GST) is proving to be more disruptive for the economy than was expected earlier. While the introduction
CIBJO Releases Coloured Stone Sp. Report
Milan: With fewer than six weeks to go to the opening of the 2017 CIBJO Congress in Bangkok, Thailand, on November 5, 2017, the fourth of the CIBJO commissions’ Special Reports has been released. Prepared by Nilam Alawdeen, President of the organisation’s Coloured Stone Commission, the report focuses on differences in the way gemmological laboratories describe treated gemstones and the
World’s Largest Diamond Sold for £40 Million
London: The world’s largest uncut diamond – roughly the size of a tennis ball – has been sold to British jeweller Graff for £40 million. Canadian miner Lucara Diamond sold the 1,109-carat gem – the Lesedi La Rona – to Graff. It was found in Botswana’s Karowe mine in late 2015. ‘We are thrilled and honoured to become the new
CIBJO Seminar Supports EU Regulations
Milan: The significance and potential impact on the jewellery industry of Regulation (EU) 2017/821, which will control the import into the European Union of gold, tin, tantalum and tungsten from conflict and high-risk areas, came under the spotlight at a seminar for the jewellery industry in Vicenza on September 24, organised by CIBJO and the Italian Exhibition Group. Participants were
India's GDP Growth to Fall to 6.7% in FY18
New Delhi, (Ind-Ra): Poor gross domestic product (GDP) growth in two successive quarters – 4QFY17 and 1QFY18 – has changed the growth prospects for FY18, says India Ratings and Research (Ind-Ra). The combined effect of demonetisation and introduction of goods and services tax (GST) is proving to be more disruptive for the economy than was expected earlier. While the introduction
CIBJO Releases Coloured Stone Sp. Report
Milan: With fewer than six weeks to go to the opening of the 2017 CIBJO Congress in Bangkok, Thailand, on November 5, 2017, the fourth of the CIBJO commissions’ Special Reports has been released. Prepared by Nilam Alawdeen, President of the organisation’s Coloured Stone Commission, the report focuses on differences in the way gemmological laboratories describe treated gemstones and the
World’s Largest Diamond Sold for £40 Million
London: The world’s largest uncut diamond – roughly the size of a tennis ball – has been sold to British jeweller Graff for £40 million. Canadian miner Lucara Diamond sold the 1,109-carat gem – the Lesedi La Rona – to Graff. It was found in Botswana’s Karowe mine in late 2015. ‘We are thrilled and honoured to become the new
