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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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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,
Zimbabwe Takes Control of Its Diamond Ind. Again
Harare: Zimbabwe has taken over income from all diamond mining activities in the country after injecting $80m into the Zimbabwe Consolidated Diamond Company (ZCDC), a state-owned company mandated to run diamond mining activities, reports miningmx. The Zimbabwe Government’s Finance Minister, Patrick Chinamasa, has now stated, “the diamonds belong to the fiscus” in a time of decline in gem mining operations
Ekati Mine's Life Could Extend till 2035
Toronto: Dominion Diamond Corporation reported that the positive results of a pre-feasibility study on the development of an underground operation below the Misery open pit could extend the mine life of Ekati till fiscal 2035. The estimated inaugural probable mineral reserves at Misery Deep are 1.8 million tonnes and 8.7 million carats, Dominion said. The Misery Main pipe is currently
Jennifer Oppenheimer is No More
London: Jennifer Ward Oppenheimer, who served as head of De Beers’ philanthropic arm, has died at the age of 50. She suffered from a brain tumor, South African newspaper Business Day reported last week. Ward Oppenheimer graduated magna cum laude from Harvard University, where she received a law degree, according to her wedding announcement in The New York Times from
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,
Zimbabwe Takes Control of Its Diamond Ind. Again
Harare: Zimbabwe has taken over income from all diamond mining activities in the country after injecting $80m into the Zimbabwe Consolidated Diamond Company (ZCDC), a state-owned company mandated to run diamond mining activities, reports miningmx. The Zimbabwe Government’s Finance Minister, Patrick Chinamasa, has now stated, “the diamonds belong to the fiscus” in a time of decline in gem mining operations
Ekati Mine's Life Could Extend till 2035
Toronto: Dominion Diamond Corporation reported that the positive results of a pre-feasibility study on the development of an underground operation below the Misery open pit could extend the mine life of Ekati till fiscal 2035. The estimated inaugural probable mineral reserves at Misery Deep are 1.8 million tonnes and 8.7 million carats, Dominion said. The Misery Main pipe is currently
Jennifer Oppenheimer is No More
London: Jennifer Ward Oppenheimer, who served as head of De Beers’ philanthropic arm, has died at the age of 50. She suffered from a brain tumor, South African newspaper Business Day reported last week. Ward Oppenheimer graduated magna cum laude from Harvard University, where she received a law degree, according to her wedding announcement in The New York Times from
