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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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Popley Group Collaborates with FICCI FLO
Mumbai: Popley Group, a pioneer in luxury jewellery and lifestyle in India & Middle East for over 88 years has taken a step towards women empowerment under the auspices of FICCI FLO for their ceremony on changing of guards. FICCI Ladies Organization, (FLO) is the women wing of the Federation of Indian Chamber of Commerce & Industry (FICCI) FLO represents
Moody’s Upgrades Alrosa Rating
Moscow: Moody’s Investors Service has upgraded Russian diamond miner ALROSA’s corporate rating while reducing the rating on the probability of default. “The upgrade of ALROSA’s ratings primarily reflects the company’s strengthened business and financial profile; Moody’s expectation that its financial metrics will remain robust, despite demand and price volatility for diamonds; the company’s high profitability, positive free cash flow generation
India’s G&J Exports Declined by 3.46% in 2015-16
Exports of cut and polished diamonds in FY16 falls 13.66% G&J exports account for 14.78% of the country’s total exports in FY16 Net imports of rough diamonds drops 16.17% to USD 14,047.81 mn Gold jewellery exports drops 13.07% to USD 8,609.25 mn Colored Gemstones exports drops 4.43% to USD 433.18 mn Mumbai: India’s Exports of gems and jewellery dropped 3.46%
US Fed Keeps Interest Rates on Hold
Washington: The US Federal Reserve has kept interest rates between 0.25% and 0.5%, the rate it has held since December. The Fed said while conditions have improved, the central bank is still waiting for inflation to reach 2%. In its statement the Fed said it would “carefully monitor actual and expected progress toward its inflation goal” as it weighed when
Popley Group Collaborates with FICCI FLO
Mumbai: Popley Group, a pioneer in luxury jewellery and lifestyle in India & Middle East for over 88 years has taken a step towards women empowerment under the auspices of FICCI FLO for their ceremony on changing of guards. FICCI Ladies Organization, (FLO) is the women wing of the Federation of Indian Chamber of Commerce & Industry (FICCI) FLO represents
Moody’s Upgrades Alrosa Rating
Moscow: Moody’s Investors Service has upgraded Russian diamond miner ALROSA’s corporate rating while reducing the rating on the probability of default. “The upgrade of ALROSA’s ratings primarily reflects the company’s strengthened business and financial profile; Moody’s expectation that its financial metrics will remain robust, despite demand and price volatility for diamonds; the company’s high profitability, positive free cash flow generation
India’s G&J Exports Declined by 3.46% in 2015-16
Exports of cut and polished diamonds in FY16 falls 13.66% G&J exports account for 14.78% of the country’s total exports in FY16 Net imports of rough diamonds drops 16.17% to USD 14,047.81 mn Gold jewellery exports drops 13.07% to USD 8,609.25 mn Colored Gemstones exports drops 4.43% to USD 433.18 mn Mumbai: India’s Exports of gems and jewellery dropped 3.46%
US Fed Keeps Interest Rates on Hold
Washington: The US Federal Reserve has kept interest rates between 0.25% and 0.5%, the rate it has held since December. The Fed said while conditions have improved, the central bank is still waiting for inflation to reach 2%. In its statement the Fed said it would “carefully monitor actual and expected progress toward its inflation goal” as it weighed when
