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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
ALROSA Recovers 3 Large Special Diamonds
Moscow: Russian diamond producer ALROSA said it has recovered three large special diamonds from two deposits at its Aikhal Mining and Processing Plant. Two diamonds from the Jubilee pipe weigh 60.22 and 73.50 carats respectively, and were recovered at the factory no.14 of the Aikhal plant. Another stone weighing 66.24 carats was produced from the Komsomolskaya pipe at the factory
Dominion Diamond CEO to Resign
Toronto: Dominion Diamond Corp. CEO Brendan Bell is stepping down after a little over two years in the job. In a statement, Bell said the move stemmed from the Canadian company’s plan, announced in November, to relocate its corporate headquarters from Yellowknife to Calgary. The transfer will be completed by the middle of the year. “The decision to move…was necessary
Pandora to Open 50 Showrooms in India
Mumbai: Denmark’s jewellery manufacturer Pandora said on Friday that it would enter the Indian market and open 50 stores in the coming three years as it is pursuing an ambitious expansion target. The Indian market, one of the largest jewellery markets in the world, is worth over $40 billion a year and is likely to grow at a rate of
Eighth BrilliANT Trade Fair Begins
Antwerp: Following tradition, during the last three days of January, Antwerp’s diamond quarter becomes an international exhibition venue that hosts the annual BrilliAnt – the Antwerp Diamond Trade Fair. By noon time of Sunday, January 29th, hundreds of retail jewelers, jewellery manufacturers, and other diamond buying visitors were making their way into the halls of the Antwerp Diamond Bourse and
ALROSA Recovers 3 Large Special Diamonds
Moscow: Russian diamond producer ALROSA said it has recovered three large special diamonds from two deposits at its Aikhal Mining and Processing Plant. Two diamonds from the Jubilee pipe weigh 60.22 and 73.50 carats respectively, and were recovered at the factory no.14 of the Aikhal plant. Another stone weighing 66.24 carats was produced from the Komsomolskaya pipe at the factory
Dominion Diamond CEO to Resign
Toronto: Dominion Diamond Corp. CEO Brendan Bell is stepping down after a little over two years in the job. In a statement, Bell said the move stemmed from the Canadian company’s plan, announced in November, to relocate its corporate headquarters from Yellowknife to Calgary. The transfer will be completed by the middle of the year. “The decision to move…was necessary
Pandora to Open 50 Showrooms in India
Mumbai: Denmark’s jewellery manufacturer Pandora said on Friday that it would enter the Indian market and open 50 stores in the coming three years as it is pursuing an ambitious expansion target. The Indian market, one of the largest jewellery markets in the world, is worth over $40 billion a year and is likely to grow at a rate of
Eighth BrilliANT Trade Fair Begins
Antwerp: Following tradition, during the last three days of January, Antwerp’s diamond quarter becomes an international exhibition venue that hosts the annual BrilliAnt – the Antwerp Diamond Trade Fair. By noon time of Sunday, January 29th, hundreds of retail jewelers, jewellery manufacturers, and other diamond buying visitors were making their way into the halls of the Antwerp Diamond Bourse and
