We Wish to Build Globally Relevant SKY Gold: Akash Talesara
Israel’s Diamond Industry Under Severe Pressure
Did Natural Diamond Ind. Misjudge LGD Threat?
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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Dominion Diamond Stake Cut by Swiss Bank
Toronto: Swiss National Bank cut its stake in shares of Dominion Diamond Corp. by 3.5% during the third quarter, Holdings Channel reports. The fund owned 142,700 shares of the company’s stock after selling 5,200 shares during the period. Swiss National Bank’s holdings in Dominion Diamond Corp. were worth $1,387,000 as of its most recent filing with the SEC. Several other
De Beers Can Start Looking at Rough Price Increase
Gaborone: De Beers intended pushing diamond production levels back to “more normal” levels during 2017, but decisions on when to increase rough diamond prices would be driven by polished diamond price levels which were currently “pretty flat”. That’s according to De Beers CFO, Nimesh Patel, who told Miningmx “… as polished prices go up we can start to look at
Resource Estimate Drops for Argyle Mine
Perth: Rio Tinto has lowered its estimate of the mineral resources available at its Argyle diamond mine in Australia, as the company reconsiders its plans to extend the project. Estimated mineral resources fell 66 percent to 15 million tonnes in 2016, compared with the previous year, the miner said in a statement last week. Mineral resources are the quantity of
Negative Outlook for India’s CPD Exporters: Ind-Ra
Mumbai: India Ratings and Research (Ind-Ra) has maintained a stable outlook on organised jewellery retailers and a negative outlook on cut and polished diamond (CPD) exporters for FY18. As per World Gold Council (WGC), India’s gold jewellery demand fell sharply 22% yoy to reach a seven-year low in 2016 (522MT). The demand was impacted severely on account of various one-off
Dominion Diamond Stake Cut by Swiss Bank
Toronto: Swiss National Bank cut its stake in shares of Dominion Diamond Corp. by 3.5% during the third quarter, Holdings Channel reports. The fund owned 142,700 shares of the company’s stock after selling 5,200 shares during the period. Swiss National Bank’s holdings in Dominion Diamond Corp. were worth $1,387,000 as of its most recent filing with the SEC. Several other
De Beers Can Start Looking at Rough Price Increase
Gaborone: De Beers intended pushing diamond production levels back to “more normal” levels during 2017, but decisions on when to increase rough diamond prices would be driven by polished diamond price levels which were currently “pretty flat”. That’s according to De Beers CFO, Nimesh Patel, who told Miningmx “… as polished prices go up we can start to look at
Resource Estimate Drops for Argyle Mine
Perth: Rio Tinto has lowered its estimate of the mineral resources available at its Argyle diamond mine in Australia, as the company reconsiders its plans to extend the project. Estimated mineral resources fell 66 percent to 15 million tonnes in 2016, compared with the previous year, the miner said in a statement last week. Mineral resources are the quantity of
Negative Outlook for India’s CPD Exporters: Ind-Ra
Mumbai: India Ratings and Research (Ind-Ra) has maintained a stable outlook on organised jewellery retailers and a negative outlook on cut and polished diamond (CPD) exporters for FY18. As per World Gold Council (WGC), India’s gold jewellery demand fell sharply 22% yoy to reach a seven-year low in 2016 (522MT). The demand was impacted severely on account of various one-off
