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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
Cartier to Embrace WeChat for Chinese Ecommerce
Beijing: With 850 million active users monthly, western luxury brands have been quick to embrace China’s “most important platform for luxury brands”, WeChat. Local and international brands have realised the potential of the platform to make them key players in China’s $103 billion jewellery market. Western companies have used it for flash sales as well as marketing and customer interaction.
Russia’s FSB Investigates Alrosa's Moscow Office
Moscow: Russia’s Federal Security Service (FSB) is investigating the Moscow office of Alrosa in relation to non-core asset sales between 2011 and 2013. The state-controlled Russian firm, which is the world’s largest producer of rough diamonds in carat terms, and the FSB both declined to comment, while the source who revealed the story did not provide any other details, Reuters
Thailand Gems & Jewelry Fair 2017 Glitters in Beijing
Beijing: Thai Gem and Jewelry Traders Association (TGJTA) promoted Thailand Gems and Jewelry Fair 2017 at Beijing International Jewelry Show 2017 with support from Haiming International Exhibition Group. Mr Suttipong Damrongsakul, President of the Thai Gem and Jewelry Traders Association (TGJTA) led a delegation for a roadshow to Beijing, China on April 6-8, 2017 to promote Thailand Gems & Jewelry
Indian Jewellers Demand Higher GST Limit
Kolkata: The jewellery industry fears that artisans and small traders could face problems while moving to the technology-driven goods and service tax regime, which is expected to roll out from July this year. The All India Gems and Jewellery Trade Federation (GJF) has approached the Centre with a plea to reconsider the proposed threshold of Rs 20 lakh for exemption
Cartier to Embrace WeChat for Chinese Ecommerce
Beijing: With 850 million active users monthly, western luxury brands have been quick to embrace China’s “most important platform for luxury brands”, WeChat. Local and international brands have realised the potential of the platform to make them key players in China’s $103 billion jewellery market. Western companies have used it for flash sales as well as marketing and customer interaction.
Russia’s FSB Investigates Alrosa's Moscow Office
Moscow: Russia’s Federal Security Service (FSB) is investigating the Moscow office of Alrosa in relation to non-core asset sales between 2011 and 2013. The state-controlled Russian firm, which is the world’s largest producer of rough diamonds in carat terms, and the FSB both declined to comment, while the source who revealed the story did not provide any other details, Reuters
Thailand Gems & Jewelry Fair 2017 Glitters in Beijing
Beijing: Thai Gem and Jewelry Traders Association (TGJTA) promoted Thailand Gems and Jewelry Fair 2017 at Beijing International Jewelry Show 2017 with support from Haiming International Exhibition Group. Mr Suttipong Damrongsakul, President of the Thai Gem and Jewelry Traders Association (TGJTA) led a delegation for a roadshow to Beijing, China on April 6-8, 2017 to promote Thailand Gems & Jewelry
Indian Jewellers Demand Higher GST Limit
Kolkata: The jewellery industry fears that artisans and small traders could face problems while moving to the technology-driven goods and service tax regime, which is expected to roll out from July this year. The All India Gems and Jewellery Trade Federation (GJF) has approached the Centre with a plea to reconsider the proposed threshold of Rs 20 lakh for exemption
