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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
KP Chairman Honored during Visit to WJH
Panama: Ahmed bin Sulayem, Executive Chairman of the Dubai Multi Commodities Center (DMCC), was honored last week in Panama City, when he was presented Honorary Membership of the World Jewelry Hub (WJH) by its Chairman Mr. Eli Izhakoff. Mr. Bin Sulayem, who also is the current Chairman of the Kimberley Process, was on a visit to Panama as a guest
AWDC Simplifies Identification Process
Antwerp: Belgian anti-money laundering legislation requires diamond traders to identify their clients, verify their identity and conduct a risk analysis before proceeding to a transaction. AWDC, the umbrella organization of the Antwerp diamond industry, is therefore making a free database available to diamond traders to simplify this identification process. Not only banks, but also diamond traders in Belgium are required
Seventh ADTF Holds its Own in Cautious Market
Antwerp: When the Seventh Edition of the Antwerp Diamond Trade Fair (ADTF) opened its doors on Sunday, January 31, expectations among participating exhibitors were low key, recognizing the rather slow holiday sales season reported by European retail jewellers and diamond distributors. Fortunately, by the time the three-day fair — jointly organized by the Antwerp Diamond Bourse (Beurs voor Diamanthandel), the
WFDB Congratulates Stephen Lussier
Antwerp: The World Federation of Diamond Bourses (WFDB) congratulates Stephen Lussier on his appointment as the Chairman of the Diamond Producers Association (DPA), with WFDB President Ernie Blom saying the DPA will benefit from Lussier’s long experience in the diamond industry. “Stephen’s breadth of knowledge of the diamond business is second to none and the DPA will reap the advantages
KP Chairman Honored during Visit to WJH
Panama: Ahmed bin Sulayem, Executive Chairman of the Dubai Multi Commodities Center (DMCC), was honored last week in Panama City, when he was presented Honorary Membership of the World Jewelry Hub (WJH) by its Chairman Mr. Eli Izhakoff. Mr. Bin Sulayem, who also is the current Chairman of the Kimberley Process, was on a visit to Panama as a guest
AWDC Simplifies Identification Process
Antwerp: Belgian anti-money laundering legislation requires diamond traders to identify their clients, verify their identity and conduct a risk analysis before proceeding to a transaction. AWDC, the umbrella organization of the Antwerp diamond industry, is therefore making a free database available to diamond traders to simplify this identification process. Not only banks, but also diamond traders in Belgium are required
Seventh ADTF Holds its Own in Cautious Market
Antwerp: When the Seventh Edition of the Antwerp Diamond Trade Fair (ADTF) opened its doors on Sunday, January 31, expectations among participating exhibitors were low key, recognizing the rather slow holiday sales season reported by European retail jewellers and diamond distributors. Fortunately, by the time the three-day fair — jointly organized by the Antwerp Diamond Bourse (Beurs voor Diamanthandel), the
WFDB Congratulates Stephen Lussier
Antwerp: The World Federation of Diamond Bourses (WFDB) congratulates Stephen Lussier on his appointment as the Chairman of the Diamond Producers Association (DPA), with WFDB President Ernie Blom saying the DPA will benefit from Lussier’s long experience in the diamond industry. “Stephen’s breadth of knowledge of the diamond business is second to none and the DPA will reap the advantages
