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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
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WDM Seminar at BrilliAnt
Antwerp: The World Diamond Mark (WDM) seminars, to be held during BrilliAnt, the Antwerp Diamond Trade Fair, will present the two main elements of the WDM programmes that aim to drive consumer traffic to the participating retail jewellers. First, the WDM team will lift a tip of the veil of the “Part of You” consumer campaign. The point of departure
Birks Inks Deal to Sell Diamonds in Asia
Hong Kong: Montreal-based Birks Group has tied up with online retailer Luxify to sell top-end polished diamonds to consumers in Asia, reports Rapaport. The companies will offer rare diamonds of Canadian origin on the Luxify ecommerce site, including the 35.11-carat, fancy dark yellowish-brown ‘Radiant North,’ described as the country’s largest colored diamond. The pair will also sell a 4.05-carat intense
ALROSA Plans 6% Rise in Production
Moscow: ALROSA said it expects rough-diamond production to increase significantly this year amid optimism in the rough market. The miner anticipates it will recover 39.2 million carats in 2017, the company said in a presentation to investors, implying a rise of 6 percent over the 37 million carats that were planned for 2016. The latest guidance is still a 2
De Beers’ Sells $720 mln Rough in First Cycle
Gaborone: De Beers rough-diamond sales jumped 32 percent year on year to $720 million during its first sales cycle of 2017 as manufacturers restocked following the holiday season, according to a press statement issued by the Company. De Beers sold rough diamonds with a value of $720 million in the first sales cycle (Global Sightholder Sales and Auction Sales) of
WDM Seminar at BrilliAnt
Antwerp: The World Diamond Mark (WDM) seminars, to be held during BrilliAnt, the Antwerp Diamond Trade Fair, will present the two main elements of the WDM programmes that aim to drive consumer traffic to the participating retail jewellers. First, the WDM team will lift a tip of the veil of the “Part of You” consumer campaign. The point of departure
Birks Inks Deal to Sell Diamonds in Asia
Hong Kong: Montreal-based Birks Group has tied up with online retailer Luxify to sell top-end polished diamonds to consumers in Asia, reports Rapaport. The companies will offer rare diamonds of Canadian origin on the Luxify ecommerce site, including the 35.11-carat, fancy dark yellowish-brown ‘Radiant North,’ described as the country’s largest colored diamond. The pair will also sell a 4.05-carat intense
ALROSA Plans 6% Rise in Production
Moscow: ALROSA said it expects rough-diamond production to increase significantly this year amid optimism in the rough market. The miner anticipates it will recover 39.2 million carats in 2017, the company said in a presentation to investors, implying a rise of 6 percent over the 37 million carats that were planned for 2016. The latest guidance is still a 2
De Beers’ Sells $720 mln Rough in First Cycle
Gaborone: De Beers rough-diamond sales jumped 32 percent year on year to $720 million during its first sales cycle of 2017 as manufacturers restocked following the holiday season, according to a press statement issued by the Company. De Beers sold rough diamonds with a value of $720 million in the first sales cycle (Global Sightholder Sales and Auction Sales) of
