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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
Top News
De Beers Group Returns $5 Bln to Partners in 2016
Gaborone: De Beers Group increased returns to governments, communities, supply chain partners and its joint venture partners by 26 per cent to US$5 billion in 2016, according to its latest Report to Society, published yesterday. The increase, delivered through taxes, payments for goods and services and dividends, reflects De Beers Group’s improved financial and operating performance in a year that
Gem Diamonds High-Quality 80ct. Diamond
London: Gem Diamonds has discovered an 80-carat rough stone that it has described as one of the highest-quality diamonds ever found at its Letšeng mine in Lesotho. The D-color, type-II diamond is relatively small compared with some of the huge stones the mine has produced over the years, including a 114-carat gem the company extracted last month. However, few previous
WDC Applauds the Start of KP Reform Cycle
Perth: World Diamond Council (WDC) members representing every sector of the diamond industry, joined together on May 1-4 at the 2017 Kimberley Process Intersessional Meeting in Perth. The focus of this year’s meeting was the start of the Kimberley Process Certification Scheme (KPCS) review cycle in order to strengthen the Kimberley Process. For the second year in a row the
De Beers Pioneers Research on Carbon-Neutral Mining
Gaborone: De Beers Group announced it is leading a ground-breaking research project that aims to deliver carbon-neutral mining at some of the company’s operations in as few as five years. The company’s scientists are working in close collaboration with a team of internationally-renowned scientists to investigate the potential to store large volumes of carbon at its diamond mines through the
De Beers Group Returns $5 Bln to Partners in 2016
Gaborone: De Beers Group increased returns to governments, communities, supply chain partners and its joint venture partners by 26 per cent to US$5 billion in 2016, according to its latest Report to Society, published yesterday. The increase, delivered through taxes, payments for goods and services and dividends, reflects De Beers Group’s improved financial and operating performance in a year that
Gem Diamonds High-Quality 80ct. Diamond
London: Gem Diamonds has discovered an 80-carat rough stone that it has described as one of the highest-quality diamonds ever found at its Letšeng mine in Lesotho. The D-color, type-II diamond is relatively small compared with some of the huge stones the mine has produced over the years, including a 114-carat gem the company extracted last month. However, few previous
WDC Applauds the Start of KP Reform Cycle
Perth: World Diamond Council (WDC) members representing every sector of the diamond industry, joined together on May 1-4 at the 2017 Kimberley Process Intersessional Meeting in Perth. The focus of this year’s meeting was the start of the Kimberley Process Certification Scheme (KPCS) review cycle in order to strengthen the Kimberley Process. For the second year in a row the
De Beers Pioneers Research on Carbon-Neutral Mining
Gaborone: De Beers Group announced it is leading a ground-breaking research project that aims to deliver carbon-neutral mining at some of the company’s operations in as few as five years. The company’s scientists are working in close collaboration with a team of internationally-renowned scientists to investigate the potential to store large volumes of carbon at its diamond mines through the
