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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
India Claims KP Chair in 2019
Dubai: Representatives of the European Union (EU) and India participating in the KP Intersessional which took place in Dubai from May 23-26 presented a coordinated proposal under which the EU will be KP Vice-Chair in 2017 and KP Chair in 2018, while India will become KP Vice-Chair in 2018 and assume the position of KP Chair in 2019. Tung-Lai Margue,
GJEPC Inducted into World Body
Dubai: The World Federation of Diamond Bourses (WFDB) has added the Gem and Jewellery Export Promotion Council (GJEPC) as the largest member among its 31-member bourses across the globe. The decision was taken at the ongoing 37th World Diamond Congress at Dubai recently. The WFDB was set up in 1947 to unite diamond exchanges world-wide. It is the apex body
KP Clearance for CAR and Venezuela
Dubai: Closing the final day of this week’s KP Intersessional, Ahmed Bin Sulayem, KP Chair, said, “I am particularly happy that the CAR Monitoring Team has by and large completed its verification and due diligence on the first shipment of the compliant zone of Berberati in the Central African Republic. The Working Group of Monitoring took good notice of the
Bruce Cleaver Appointed as CEO of De Beers Group
Gaborone: De Beers Group announces the appointment of Bruce Cleaver as CEO, following Philippe Mellier’s decision to step down after five years with the company. The appointment will take effect on 1 July 2016. Bruce Cleaver served as De Beers’ executive director responsible for strategy and commercial relationships until 2015, also serving as Co-Acting CEO for a year prior to
India Claims KP Chair in 2019
Dubai: Representatives of the European Union (EU) and India participating in the KP Intersessional which took place in Dubai from May 23-26 presented a coordinated proposal under which the EU will be KP Vice-Chair in 2017 and KP Chair in 2018, while India will become KP Vice-Chair in 2018 and assume the position of KP Chair in 2019. Tung-Lai Margue,
GJEPC Inducted into World Body
Dubai: The World Federation of Diamond Bourses (WFDB) has added the Gem and Jewellery Export Promotion Council (GJEPC) as the largest member among its 31-member bourses across the globe. The decision was taken at the ongoing 37th World Diamond Congress at Dubai recently. The WFDB was set up in 1947 to unite diamond exchanges world-wide. It is the apex body
KP Clearance for CAR and Venezuela
Dubai: Closing the final day of this week’s KP Intersessional, Ahmed Bin Sulayem, KP Chair, said, “I am particularly happy that the CAR Monitoring Team has by and large completed its verification and due diligence on the first shipment of the compliant zone of Berberati in the Central African Republic. The Working Group of Monitoring took good notice of the
Bruce Cleaver Appointed as CEO of De Beers Group
Gaborone: De Beers Group announces the appointment of Bruce Cleaver as CEO, following Philippe Mellier’s decision to step down after five years with the company. The appointment will take effect on 1 July 2016. Bruce Cleaver served as De Beers’ executive director responsible for strategy and commercial relationships until 2015, also serving as Co-Acting CEO for a year prior to
