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The 200-Day Test: Where the Bull Case for Gold and Silver Goes on Trial
Macro Snapshot: The week ending June 26 extended the precious metals selloff to a fifth consecutive week and pushed both gold and silver into the most important long-term technical zone of the broader uptrend: the 200-day exponential moving average. Three macro forces drove the decline, and they did so simultaneously. First, the US-Iran 60-day peace roadmap, formally signed in Switzerland on June 17, continued to remove the geopolitical risk premium that had supported the metals since the February conflict began.
The 200-Day Test: Where the Bull Case for Gold and Silver Goes on Trial
Macro Snapshot: The week ending June 26 extended the precious metals selloff to a fifth consecutive week and pushed both gold and silver into the most important long-term technical zone of the broader uptrend: the 200-day exponential moving average. Three macro forces drove the decline, and they did so simultaneously. First, the US-Iran 60-day peace roadmap, formally signed in Switzerland on June 17, continued to remove the geopolitical risk premium that had supported the metals since the February conflict began.
Top News
GJTCI Organized 4th Edition of Excellence Awards
Ahmedabad: With a view to contribute to Vibrant Gujarat- 2017, the gems & Jewellery Trade Council of India (GJTCI) is gearing up with many events to display the uniqueness and unmatched craftsmanship of our Jewellery Industry. GJTCI Excellence Awards is one of them. Going by the success and benefits of previous three Excellence Awards shows, GJTCI had organized 4th Edition
ALROSA Triples Its Net Profit
Moscow: ALROSA disclosed its financial results for the third quarter and nine months of 2016 in line with the International Financial Reporting Standards (IFRS). ALROSA’s 9M 2016 revenue increased by 48% y-o-y and totalled RUB 255.6 bn. The Company’s EBITDA grew by 67% y-o-y to RUB 150.0 bn, with EBITDA margin totalling 59%. The miner’s net income and free cash
India Elected Vice Chair of KP for 2018
Dubai: The Kimberley Process (KP) Plenary held in UAE this week concluded with the announcement that it has appointed the European Union (EU) as its Chair for 2018. The EU will assume responsibility as KP Vice Chair in 2017 with Australia as Chair, and India will be the Vice Chair in 2018 when EU becomes the organisation’s Chair. Consequently, in
Gitanjali Loses SEZ Project in Maharashtra
Mumbai: The Government of Maharashtra has approved the cancellation of Gitanjali Gems’ special economic zone (SEZ) project in Maharashtra. The decision regarding this was taken by the Board of Approval (BoA), headed by Commerce Secretary Rita Teaotia, on its November 9 meeting, an official said. “The cancellation, however, is subject to the development commissioner furnishing a certificate that the developer
GJTCI Organized 4th Edition of Excellence Awards
Ahmedabad: With a view to contribute to Vibrant Gujarat- 2017, the gems & Jewellery Trade Council of India (GJTCI) is gearing up with many events to display the uniqueness and unmatched craftsmanship of our Jewellery Industry. GJTCI Excellence Awards is one of them. Going by the success and benefits of previous three Excellence Awards shows, GJTCI had organized 4th Edition
ALROSA Triples Its Net Profit
Moscow: ALROSA disclosed its financial results for the third quarter and nine months of 2016 in line with the International Financial Reporting Standards (IFRS). ALROSA’s 9M 2016 revenue increased by 48% y-o-y and totalled RUB 255.6 bn. The Company’s EBITDA grew by 67% y-o-y to RUB 150.0 bn, with EBITDA margin totalling 59%. The miner’s net income and free cash
India Elected Vice Chair of KP for 2018
Dubai: The Kimberley Process (KP) Plenary held in UAE this week concluded with the announcement that it has appointed the European Union (EU) as its Chair for 2018. The EU will assume responsibility as KP Vice Chair in 2017 with Australia as Chair, and India will be the Vice Chair in 2018 when EU becomes the organisation’s Chair. Consequently, in
Gitanjali Loses SEZ Project in Maharashtra
Mumbai: The Government of Maharashtra has approved the cancellation of Gitanjali Gems’ special economic zone (SEZ) project in Maharashtra. The decision regarding this was taken by the Board of Approval (BoA), headed by Commerce Secretary Rita Teaotia, on its November 9 meeting, an official said. “The cancellation, however, is subject to the development commissioner furnishing a certificate that the developer
