International News
Silver sees record breaking surge on London short squeeze
Silver has stormed past its previous records, touching an unprecedented $53 an ounce, as a dramatic short squeeze in London sent shockwaves through global commodity markets. What’s adding fuel to the frenzy is a liquidity crunch in London, where traders are scrambling to source physical metal.
Spot silver spiked as much as 1% to $52.8983 an ounce. Silver price in Mumbai touched Rs 1,85,100 per kg. Silver lease rates — which represent the annualized cost of borrowing metal in the London market — surged to more than 30% on a one-month basis on Friday, creating eye-watering costs for those looking to roll over short positions.
Behind silver’s rally were concerns over a depleting silver inventory in London, which drove prices to a premium over those seen in New York and prompted traders to ship metals across the Atlantic for a profit. As of Monday, the premium was at about $1.60 an ounce.
The silver market “is less liquid and roughly nine times smaller than gold’s, amplifying price moves. Without a central bank bid to anchor silver prices, even a temporary pullback in investment flows could trigger a disproportionate correction, as it would also unwind the London tightness that drove much of the recent rally.
International News
Dolce & Gabbana Unveils Alta Gioielleria Taormina Collection Inspired By Sicily’s Timeless Heritage
The Latest High Jewellery Collection Celebrates Sicily’s Vibrant Landscapes, Sacred Traditions, and Exceptional Craftsmanship Through Handcrafted Masterpieces Adorned With Intricate Goldwork and Precious Gemstones.
Dolce & Gabbana has unveiled its Alta Gioielleria Taormina Collection, a spectacular tribute to Sicily’s rich heritage, drawing inspiration from the island’s vibrant landscapes, sacred traditions, and artistic legacy.
Each masterpiece in the collection is meticulously handcrafted, showcasing intricate goldwork, hand-painted details, and precious gemstones that reflect the beauty and cultural richness of Sicily. The designs embody the Maison’s commitment to Italian craftsmanship, combining traditional artistry with contemporary luxury.
More than a high jewellery collection, the Alta Gioielleria Taormina Collection celebrates Italian culture, timeless elegance, and the enduring spirit of luxury craftsmanship, reinforcing Dolce&Gabbana’s legacy of creating extraordinary jewellery inspired by art, history, and heritage.
Collection Highlight:
- San Domenico Setting: Displayed within the ancient cloisters and halls of San Domenico.
- Artisan Roses: Features hand-sculpted and enamelled gold roses enclosed in unique settings.
- Sacred Motifs: Includes parures that pay direct tribute to the artistic veneration of the Madonna.
- Couture Context: Debuted alongside the Alta Moda presentation at Radicepura and the Alta Sartoria show at the ancient Teatro Antico.
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