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The Selloff Deepens, but Demand is Answering: Are Gold-Silver Nearing a Floor?
Macro Snapshot: Two events defined the week ending June 12. On Monday June 9, White House officials indicated that US-Iran nuclear negotiations were making positive progress; oil prices dropped immediately, with WTI crude falling approximately 4% to $87.61 and Brent losing 3.5% to $90.92. Then on Tuesday June 10, the Bureau of Labor Statistics released the May CPI: headline inflation accelerated to 4.2% year-on-year, the highest reading since April 2023, up from 3.8% in April. The monthly increase was 0.5%,
The Selloff Deepens, but Demand is Answering: Are Gold-Silver Nearing a Floor?
Macro Snapshot: Two events defined the week ending June 12. On Monday June 9, White House officials indicated that US-Iran nuclear negotiations were making positive progress; oil prices dropped immediately, with WTI crude falling approximately 4% to $87.61 and Brent losing 3.5% to $90.92. Then on Tuesday June 10, the Bureau of Labor Statistics released the May CPI: headline inflation accelerated to 4.2% year-on-year, the highest reading since April 2023, up from 3.8% in April. The monthly increase was 0.5%,
Top News
Gems & Jewellery Sector Seeks Special GST Rates
Mumbai: Mr. G.V. Sreedhar, the outgoing chairman of the All India Gems & Jewellery Trade Federation (GJF) said 1.25%-1.3% is an ideal GST rate for gems and jewellery traders in the country. He averred that his federation would like the GST to be around 1.25%, although the industry demands differ ranging from 5%-18%. He pointed out, “We have been very
10th Signature IIJS Inaugurated
Mumbai: In its golden jubilee year, the Gem & Jewellery Export Promotion Council (GJEPC) presented the trade with two wonderful opportunities to commence the year’s buying season with the 10th edition of Signature IIJS and the 4th edition of India Gem & Jewellery Machinery Expo (IGJME). Mr. Ernest Blom, President of the World Federation of Diamond Bourses (WFDB) and Mr.
De Beers May Abandon London Flagship Store
London: De Beers Diamond Jewelers on Old Bond Street is considering leaving its flagship London store after almost 15 years, citing an increase in rent and business rates as motivating its decision to relocate, writes The Telegraph. A spokesperson for the company told The Telegraph increased costs related to its lease had led it to “explore alternative options on Bond
RBI Expected to Hold Interest Rates
Mumbai: The Reserve Bank of India (RBI) is expected to hold key interest rates at its monetary policy review, its second after November’s note ban, in the wake of banks being flush with funds post-demonetisation and a firming up of global oil prices. As a result of the surge in bank deposits following the recent demonetisation of high-value currency, lending
Gems & Jewellery Sector Seeks Special GST Rates
Mumbai: Mr. G.V. Sreedhar, the outgoing chairman of the All India Gems & Jewellery Trade Federation (GJF) said 1.25%-1.3% is an ideal GST rate for gems and jewellery traders in the country. He averred that his federation would like the GST to be around 1.25%, although the industry demands differ ranging from 5%-18%. He pointed out, “We have been very
10th Signature IIJS Inaugurated
Mumbai: In its golden jubilee year, the Gem & Jewellery Export Promotion Council (GJEPC) presented the trade with two wonderful opportunities to commence the year’s buying season with the 10th edition of Signature IIJS and the 4th edition of India Gem & Jewellery Machinery Expo (IGJME). Mr. Ernest Blom, President of the World Federation of Diamond Bourses (WFDB) and Mr.
De Beers May Abandon London Flagship Store
London: De Beers Diamond Jewelers on Old Bond Street is considering leaving its flagship London store after almost 15 years, citing an increase in rent and business rates as motivating its decision to relocate, writes The Telegraph. A spokesperson for the company told The Telegraph increased costs related to its lease had led it to “explore alternative options on Bond
RBI Expected to Hold Interest Rates
Mumbai: The Reserve Bank of India (RBI) is expected to hold key interest rates at its monetary policy review, its second after November’s note ban, in the wake of banks being flush with funds post-demonetisation and a firming up of global oil prices. As a result of the surge in bank deposits following the recent demonetisation of high-value currency, lending
