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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
SDA Demands International Airport for Surat
Surat: The Surat Diamond Association (SDA) and the Gem and Jewellery Export Promotion Council (GJEPC) have written to Prime Minister Narendra Modi to provide international airport at Surat at the earliest to facilitate smooth import and export of polished and rough diamonds, reports The Times of India. SDA office-bearers said that polished diamonds worth over Rs. 1 lakh crore are
Gem Diamonds Puts Ghaghoo Mine on Hold
Gaborone: Gem Diamonds will stop production at the Ghaghoo mine in Botswana, effective immediately, due to a slump in prices, the company said Thursday. The miner has decided to place the asset on “care and maintenance,” meaning it will put diamond recovery on hold but keep managing the site until market conditions improve. The average price of rough diamonds extracted
10th Convocation Ceremony Held at IIGJ Mumbai
Mumbai: On February 14th , 2017 members of the Indian Institute of Gems & Jewellery gathered with students, their family, and friends to celebrate Convocation. On this day, the students of Diploma Batch 10TH were declared graduates at the D.Navinchandra Auditorium at IIGJ, Andheri East. The presence of Chief Guest – Mr. PremKumar Kothari – Chairman – GJSCI, Mrs. Namita
Change in Address of NY Diamond Dealers Club
New York; The Diamond Dealers Club (DDC) of New York will move to new premises at the International Gem Tower (IGT), enabling more companies to beat Manhattan’s sky-high rents by relocating their offices to the trading floor. The DDC signed a contract with Extell Development to secure about 17,500 square feet on the 11th floor of the building, which is
SDA Demands International Airport for Surat
Surat: The Surat Diamond Association (SDA) and the Gem and Jewellery Export Promotion Council (GJEPC) have written to Prime Minister Narendra Modi to provide international airport at Surat at the earliest to facilitate smooth import and export of polished and rough diamonds, reports The Times of India. SDA office-bearers said that polished diamonds worth over Rs. 1 lakh crore are
Gem Diamonds Puts Ghaghoo Mine on Hold
Gaborone: Gem Diamonds will stop production at the Ghaghoo mine in Botswana, effective immediately, due to a slump in prices, the company said Thursday. The miner has decided to place the asset on “care and maintenance,” meaning it will put diamond recovery on hold but keep managing the site until market conditions improve. The average price of rough diamonds extracted
10th Convocation Ceremony Held at IIGJ Mumbai
Mumbai: On February 14th , 2017 members of the Indian Institute of Gems & Jewellery gathered with students, their family, and friends to celebrate Convocation. On this day, the students of Diploma Batch 10TH were declared graduates at the D.Navinchandra Auditorium at IIGJ, Andheri East. The presence of Chief Guest – Mr. PremKumar Kothari – Chairman – GJSCI, Mrs. Namita
Change in Address of NY Diamond Dealers Club
New York; The Diamond Dealers Club (DDC) of New York will move to new premises at the International Gem Tower (IGT), enabling more companies to beat Manhattan’s sky-high rents by relocating their offices to the trading floor. The DDC signed a contract with Extell Development to secure about 17,500 square feet on the 11th floor of the building, which is
