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The Correction is Ten Weeks Old. The Floor Has Not Broken. Is That the Signal?
Macro Snapshot: The week ending July 31 delivered two of the most consequential macro events of 2026, and neither resolved the stalemate that has defined gold and silver for five weeks. On Wednesday July 29, the Federal Reserve held rates at 3.50-3.75% in a divided 9-3 vote. Three regional Fed presidents (Cleveland’s Beth Hammack, Minneapolis’ Neel Kashkari, and Dallas’ Lorie Logan) dissented in favour of an immediate 25 basis point hike, the largest number of dissents for rates to move
The Correction is Ten Weeks Old. The Floor Has Not Broken. Is That the Signal?
Macro Snapshot: The week ending July 31 delivered two of the most consequential macro events of 2026, and neither resolved the stalemate that has defined gold and silver for five weeks. On Wednesday July 29, the Federal Reserve held rates at 3.50-3.75% in a divided 9-3 vote. Three regional Fed presidents (Cleveland’s Beth Hammack, Minneapolis’ Neel Kashkari, and Dallas’ Lorie Logan) dissented in favour of an immediate 25 basis point hike, the largest number of dissents for rates to move
Top News
China Records Sustained Growth in Jewellery Sales
Beijing: Retail sales of gold, silver and jewellery in China were up 7.8 percent in the first four months of the year, indicating further signs of improvement in the market, according to data released by the National Bureau of Statistics of China. Sales rose to around $15 bn from January to April compared to the same period a year ago.
Rockwell Subsidiaries Survive Liquidation Bid
Johannesburg: Rockwell Diamonds said its three subsidiaries – Rockwell Resources, HC van Wyk Diamonds and Saxendrift Mine – were successfully placed under business rescue by a court in Kimberley, South Africa as opposed to liquidation. The immediate effect, it said, was that all legal proceedings against the subsidiaries were stayed, and the liquidation process was suspended. Rockwell said the orders
Tanzanian President Asks Mining Minister to Resign
Dar Es Salaam: Tanzanian President John Magufuli on Wednesday ordered Minister for Energy and Minerals Sospeter Muhongo to resign after a report showed he was implicated in mining firms’ undeclared mineral sand exports. The report revealed that the undeclared mineral sand exports led to tax evasion by the mining firms. Magufuli said the report revealed that mining firms, including Acacia
ALROSA-Endiama Sign Agreement
Luanda: ALROSA will develop the new Luaxe diamond deposit in Angola. During the visit of the Russian official delegation on May 23, 2017, the President of ALROSA Sergey Ivanov and the president of the Angola’s national diamond-mining company Endiama Carlos Sumbula signed respective documents on the establishment of the international enterprise Luaxe. Companies signed three documents: a memorandum of understanding,
China Records Sustained Growth in Jewellery Sales
Beijing: Retail sales of gold, silver and jewellery in China were up 7.8 percent in the first four months of the year, indicating further signs of improvement in the market, according to data released by the National Bureau of Statistics of China. Sales rose to around $15 bn from January to April compared to the same period a year ago.
Rockwell Subsidiaries Survive Liquidation Bid
Johannesburg: Rockwell Diamonds said its three subsidiaries – Rockwell Resources, HC van Wyk Diamonds and Saxendrift Mine – were successfully placed under business rescue by a court in Kimberley, South Africa as opposed to liquidation. The immediate effect, it said, was that all legal proceedings against the subsidiaries were stayed, and the liquidation process was suspended. Rockwell said the orders
Tanzanian President Asks Mining Minister to Resign
Dar Es Salaam: Tanzanian President John Magufuli on Wednesday ordered Minister for Energy and Minerals Sospeter Muhongo to resign after a report showed he was implicated in mining firms’ undeclared mineral sand exports. The report revealed that the undeclared mineral sand exports led to tax evasion by the mining firms. Magufuli said the report revealed that mining firms, including Acacia
ALROSA-Endiama Sign Agreement
Luanda: ALROSA will develop the new Luaxe diamond deposit in Angola. During the visit of the Russian official delegation on May 23, 2017, the President of ALROSA Sergey Ivanov and the president of the Angola’s national diamond-mining company Endiama Carlos Sumbula signed respective documents on the establishment of the international enterprise Luaxe. Companies signed three documents: a memorandum of understanding,
