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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
Gahcho Kué Receives PDAC Award
Toronto: The Gahcho Kué Mine was honoured by the Prospectors and Developers Association of Canada (PDAC) with the Viola R. MacMillan Award for demonstrating leadership in management and financing for the exploration and development of mineral resources. Elaborating on the reasons for the selection, PDAC said it was “for development of the world’s largest new diamond mine in the last
Global Platinum Deficit May Rise in 2017: WPIC
London: The global platinum deficit is predicted to weigh in at 120,000 oz in 2017, a larger shortfall than previously estimated, driven by a fall in supply, industry lobby group, the World Platinum Investment Council (WPIC), said in its Platinum Quarterly Thursday. This year will be the sixth consecutive year of deficit, with total supply from mining and recycling predicted
'Mines to Market' Conference on 19th & 20th March
Mumbai: The Gem and Jewellery Export Promotion Council of India (GJEPC) will host the International Diamond Conference on 19th & 20th of March 2017. The conference is being held with an objective of bringing together the leading Miners, Diamantaires, Retailers, Bankers and Analysts from across the globe on a platform to discuss the supply and demand issues faced by the
India's Large Cash Deals Ban Harmful: WGC
Mumbai: India’s ban on high-value cash transactions could damage rural gold demand or spur growth in the black market, the World Gold Council (WGC) warned. From April 1, the government will cap cash purchases at $4,493 (INR 300,000) as it continues its attempts to transform the nation’s economy into one based more on electronic transactions. “This will have the greatest
Gahcho Kué Receives PDAC Award
Toronto: The Gahcho Kué Mine was honoured by the Prospectors and Developers Association of Canada (PDAC) with the Viola R. MacMillan Award for demonstrating leadership in management and financing for the exploration and development of mineral resources. Elaborating on the reasons for the selection, PDAC said it was “for development of the world’s largest new diamond mine in the last
Global Platinum Deficit May Rise in 2017: WPIC
London: The global platinum deficit is predicted to weigh in at 120,000 oz in 2017, a larger shortfall than previously estimated, driven by a fall in supply, industry lobby group, the World Platinum Investment Council (WPIC), said in its Platinum Quarterly Thursday. This year will be the sixth consecutive year of deficit, with total supply from mining and recycling predicted
'Mines to Market' Conference on 19th & 20th March
Mumbai: The Gem and Jewellery Export Promotion Council of India (GJEPC) will host the International Diamond Conference on 19th & 20th of March 2017. The conference is being held with an objective of bringing together the leading Miners, Diamantaires, Retailers, Bankers and Analysts from across the globe on a platform to discuss the supply and demand issues faced by the
India's Large Cash Deals Ban Harmful: WGC
Mumbai: India’s ban on high-value cash transactions could damage rural gold demand or spur growth in the black market, the World Gold Council (WGC) warned. From April 1, the government will cap cash purchases at $4,493 (INR 300,000) as it continues its attempts to transform the nation’s economy into one based more on electronic transactions. “This will have the greatest
