Diamond News Archives
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The Trump administration is not big on “shared responsibility.” Sharing responsibility means compromising. It means doing things that might not give you satisfaction this very instant.
If there is one thing that is patently ineffective, when it comes to appealing to Trump’s sense of agency, it’s suggesting that other people who live far away will suffer if he makes a certain decision. Lagarde can opine all she likes, but this is language specifically designed to fall on deaf ears stateside.
The globalized system that has transformed the world over the last generation is at risk of being completely dismantled amid aggressive turns toward protectionism, warned International Monetary Fund (IMF) Managing Director Christine Lagarde during a speech at the Asia Global Institute in Hong Kong Wednesday.
"That system of rules and shared responsibility is now in danger of being torn apart," Lagarde said, referring to the multilateral trade order she said helped bring millions out of poverty. "This would be an inexcusable, collective policy failure."
The director's sense of urgency stemmed from mounting fears of a trade war, prompted by President Donald Trump's move to impose steep tariffs on all steel and aluminum imports coming into the U.S., which was swiftly met with retaliation from China and opprobrium from many other trading partners including the EU.
"There is new urgency because uncertainties have significantly increased — from trade tensions, to rising fiscal and financial risks, to more uncertain geopolitics," she said.
ORIGINAL SOURCE: Global trading system is at risk of being ‘torn apart,’ warns IMF’s Lagarde[1] by Natasha Turak at CNBC[2] on 4/11/18...
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PRECIOUS-Gold up on a softer dollar; U.S. CPI, Fed minutes in focus | ReutersApril 11, 2018 / 1:25 AM / Updated 11 hours ago...
BENGALURU, April 11 (Reuters) - Gold prices rose early on Wednesday as the dollar index hovered near two-week lows, with markets awaiting key U.S. inflation data and minutes from the Federal Reserve's March meeting. FUNDAMENTALS * Spot gold was on track for a fourth straight session of gains, up 0.2 percent at $1,341.26 an ounce as of 0114 GMT. Prices earlier rose to a one-week high of $1,342.64 an ounce. * U.S. gold futures were unchanged at $1,346 an ounce. * The dollar index , which measures the greenback against six other major currencies, was steady at 89.567, not far from a two-week low of 89.544 hit on Tuesday. * Chinese President Xi Jinping promised on Tuesday to open the country's economy further and lower import tariffs on products like cars, in a speech seen as an attempt to defuse an escalating trade dispute with the United States. * U.S. President Donald Trump welcomed Xi's promise to open China's economy further, expressing confidence the world's two largest economies would come through an ongoing trade spat and "make great progress together." * U.S. producer prices increased more than expected in March, boosted by rising healthcare and food costs, pointing to a steady buildup of inflation pressures. * The U.S.
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(IDEX Online) – AGS Laboratories said it is offering laser inscription removal and recutting services via Advanced Diamonds, a Las Vegas diamond cutting service. <?xml:namespace prefix = "o" ns = "urn:schemas-microsoft-com:office:office" /?>
“AGS Laboratories saw a need to establish a professional relationship with a well-respected diamond cutter with a local presence,” said Jason Quick, Laboratory Director of AGS Laboratories. “This service will further support our clients, AGS members and the industry by reducing the time and expense of getting merchandise to market.”
Advanced Diamonds operates independently of AGS Laboratories, and is headed by Karl Kruger, a master diamond cutter with decades of experience. Kruger also specializes in AGS Ideal Cut and AGS Triple Zero diamonds.
“The beauty of having Karl and his team in Las Vegas is that this service will save our clients time and ultimately money on reduced shipping,” Quick added....
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Gold remained choppy overnight in a range of $1331.15 - $1339.20, trading against movements in the US dollar.
It sank to its low of $1331.15 (supported by 50, 40, and 20 day MA’s) as the DX reached 89.97 on soothing comments from Chinese President XI that he would open the country’s economy, lower import tariffs on automobiles, and promised to enforce the legal intellectual property of foreign firms.
Global equity markets cheered the news, with the NIKKEI up 0.5%, the SCI +1.7%, Eurozone shares up from 0.6% to 1.1%, and S&P futures +1.1%.
Gold was able to bounce back to $1336 during European time on a combination of bargain hunting bids and comments from the Fed’s Kaplan (trade issue with China won’t resolve soon, reiterated his dovish base case of just 2 more rate hikes this year).
Later on, the DX collapsed through support at yesterday’s 89.81 low to reach 89.54 (2- week low) as the euro surged ($1.2325 - $1.2378) from hawkish comments from the ECB’s Nowotny (ECB could lift deposit rate to -0.2% from -0.4% to start rate normalization process, favors ending bond buying this year).
A miss on the US NFIB Small Business Index report (104.7 vs. exp. 107) also weighed on the greenback.
Gold ran higher, and broke through yesterday’s $1338 high to reach $1339.20 ahead of the NY open.
At 8:30 AM, a stronger than expected reading on US PPI (0.3% vs. exp. 0.1%) lifted the US 10-year bond yield from 2.79% to 2.812%.
The DX bounced to 89.84, and knocked gold back to $1336. However, the dollar’s strength proved short-lived as US stocks pared some gains on their open (S&P +25 to 2638), and the 10-year yield slid to 2.783%.
The DX dipped...
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As the U.S. and global economy speed towards the Seneca Cliff, very few individuals understand the fragile nature of currencies. Today, we use the lightning speed of the digital banking system to make our purchases at the store or online. It has become seemingly natural to buy groceries at the swipe of a card. Only a small percentage of purchases are made with cash… paper money.
However, our high-tech digital banking system is built upon a highly complex system that consumes a massive amount of energy just to maintain business as usual. There’s this notion that technology will grow exponentially while at the same time making our lives easier. TV commercials are showing how individuals today have more power at their fingertips than entire generations in the past. While this is currently true, I can assure you; we are not heading into a high-tech world where robots do everything for us.
Unfortunately, due to the rapidly Falling EROI – Energy Returned On Investment and the thermodynamics of resource depletion, we are heading into a future with much less technology and a great deal more human labor. I know, it sounds insane to say that, but it’s true. Human labor and human farming have a much higher EROI than any technology used today.
In my newest video, I discuss the Fragile Nature of Currencies and why gold and silver are the high-quality stores of value. I released the video yesterday on my youtube channel and already there a lot of comments. One individual commented that the information about the “lifespan of the servers” was inaccurate. The individual stated that the reason servers are replaced is that it’s cheaper to buy a new one than maintain an old one. Well, you see… that is...
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