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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
Indian Institute of Gems & Jewellery in Varanasi
Hon. Union Minister of State for Commerce & Industry Smt. Nirmala Sitharaman graces foundation stone laying ceremony of IIGJ Mumbai, Varanasi Extension Campus Varanasi: The Gem & Jewellery Export Promotion Council (GJEPC) is taking a big step towards realizing Prime Minister, Narendra Modi’s one of the dream project, ‘Skill India’ by setting up the first-of-its-kind Indian Institute of Gem &
India Relaxes Gold & Jewellery Purchases
New Delhi: Amendments to the I-T laws do not seek to tax inherited gold and jewellery as also those items that are purchased through disclosed or agriculture income, the government said yesterday. The Lok Sabha earlier this week passed the Taxation Laws (Second Amendment) Bill, which proposes a steep up to 85 percent tax and penalty on undisclosed wealth that
Excise on Branded Gold Coins Abolished
New Delhi: The government of India has scrapped the excise duty on branded gold coins, a move that one would assume benefit the industry and consumers alike. However, World Gold Council (WGC) and Titan are not too enthused about the step, and do not expect to see a major rise in demand for branded gold coins. Commenting on the move,
EDC Sells Rough Worth $5 Million in Nov.
Moscow: ALROSA, the world leader in diamond mining, has announced the results of rough diamond sales held in the Eurasian Diamond Centre (EDC) in Vladivostok. Rough diamonds worth USD 5 million were sold during the trading session held on November 21-25, 2016. Rough diamond sales are the second in succession in the scope of operation of the Eurasian Diamond Centre.
Indian Institute of Gems & Jewellery in Varanasi
Hon. Union Minister of State for Commerce & Industry Smt. Nirmala Sitharaman graces foundation stone laying ceremony of IIGJ Mumbai, Varanasi Extension Campus Varanasi: The Gem & Jewellery Export Promotion Council (GJEPC) is taking a big step towards realizing Prime Minister, Narendra Modi’s one of the dream project, ‘Skill India’ by setting up the first-of-its-kind Indian Institute of Gem &
India Relaxes Gold & Jewellery Purchases
New Delhi: Amendments to the I-T laws do not seek to tax inherited gold and jewellery as also those items that are purchased through disclosed or agriculture income, the government said yesterday. The Lok Sabha earlier this week passed the Taxation Laws (Second Amendment) Bill, which proposes a steep up to 85 percent tax and penalty on undisclosed wealth that
Excise on Branded Gold Coins Abolished
New Delhi: The government of India has scrapped the excise duty on branded gold coins, a move that one would assume benefit the industry and consumers alike. However, World Gold Council (WGC) and Titan are not too enthused about the step, and do not expect to see a major rise in demand for branded gold coins. Commenting on the move,
EDC Sells Rough Worth $5 Million in Nov.
Moscow: ALROSA, the world leader in diamond mining, has announced the results of rough diamond sales held in the Eurasian Diamond Centre (EDC) in Vladivostok. Rough diamonds worth USD 5 million were sold during the trading session held on November 21-25, 2016. Rough diamond sales are the second in succession in the scope of operation of the Eurasian Diamond Centre.
