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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
US Govt. to Finance Botswana Diamond Cutting
Gaborone: The Overseas Private Investment Corp. (OPIC), a financial institution run by the U.S. government, has signed a $125 million loan guaranty meant to help Botswana increase local diamond cutting. OPIC cosigned the guaranty with Barclays Bank of Botswana and Lazare Kaplan International (LKI). The agreement establishes a revolving framework facility in which OPIC will share the credit risk. The
Thailand Gems & Jewellery Fair Postponed
Bangkok: The Thai Gem and Jewelry Traders Association (TGJTA) said its inaugural Thailand Gems & Jewelry Fair scheduled to be held from September 7 to 11 has been postponed to 2017 due to problems with securing the necessary space at the venue in the time required. In an official statement the organization said, “We had hoped to resolve the issue
Chow Tai Fook to Expand US Business
New York: China’s largest retailer `by market value, Chow Tai Fook, has responded to economic headwinds in its home country by investigating plans to expand in the US market, according to a report on Bloomberg.com. The company plans to start the new US wholesale business, which will sell diamonds to retailers there, within a year and has set up a
Modi Urges G&J Sector to Step up to the Next Level
Mumbai: The Prime Minister Narendra Modi urged the members of gems and jewellery sector to step up to the next level and create “Make in India” Brand. Speaking at a felicitation programme organized by GJEPC, GJF and AIJAC on July 23rd at New Delhi, PM assured the sector an unstinted support towards all strategic initiatives leading towards “Make in India”
US Govt. to Finance Botswana Diamond Cutting
Gaborone: The Overseas Private Investment Corp. (OPIC), a financial institution run by the U.S. government, has signed a $125 million loan guaranty meant to help Botswana increase local diamond cutting. OPIC cosigned the guaranty with Barclays Bank of Botswana and Lazare Kaplan International (LKI). The agreement establishes a revolving framework facility in which OPIC will share the credit risk. The
Thailand Gems & Jewellery Fair Postponed
Bangkok: The Thai Gem and Jewelry Traders Association (TGJTA) said its inaugural Thailand Gems & Jewelry Fair scheduled to be held from September 7 to 11 has been postponed to 2017 due to problems with securing the necessary space at the venue in the time required. In an official statement the organization said, “We had hoped to resolve the issue
Chow Tai Fook to Expand US Business
New York: China’s largest retailer `by market value, Chow Tai Fook, has responded to economic headwinds in its home country by investigating plans to expand in the US market, according to a report on Bloomberg.com. The company plans to start the new US wholesale business, which will sell diamonds to retailers there, within a year and has set up a
Modi Urges G&J Sector to Step up to the Next Level
Mumbai: The Prime Minister Narendra Modi urged the members of gems and jewellery sector to step up to the next level and create “Make in India” Brand. Speaking at a felicitation programme organized by GJEPC, GJF and AIJAC on July 23rd at New Delhi, PM assured the sector an unstinted support towards all strategic initiatives leading towards “Make in India”
