We Wish to Build Globally Relevant SKY Gold: Akash Talesara
Israel’s Diamond Industry Under Severe Pressure
Did Natural Diamond Ind. Misjudge LGD Threat?
Despite Collapsing Hike Odds, Rising Yields Kept Indian Gold, Silver Below Their Floors
Snap Shot: Most of the damage in the week ending 2 October landed before the good news arrived, and the good news then failed to repair it. August core PCE inflation, released on 30 September, rose 3.0% from a year earlier against expectations of 3.3%, helped partly by methodology changes at the Bureau of Economic Analysis. September payrolls on 2 October then added just 29,000 jobs against forecasts near 90,000, with unemployment at 4.2% and August revised down to 133,000
Despite Collapsing Hike Odds, Rising Yields Kept Indian Gold, Silver Below Their Floors
Snap Shot: Most of the damage in the week ending 2 October landed before the good news arrived, and the good news then failed to repair it. August core PCE inflation, released on 30 September, rose 3.0% from a year earlier against expectations of 3.3%, helped partly by methodology changes at the Bureau of Economic Analysis. September payrolls on 2 October then added just 29,000 jobs against forecasts near 90,000, with unemployment at 4.2% and August revised down to 133,000
Top News
Diamonds ‘Not Promoted Enough’
Saurimo: Diamonds are not being promoted well enough, and as a result people are not motivated to buy them, the chairman of Angolan state diamond company Endiama said last week. Speaking in the Angolan city of Saurimo on October 6, Carlos Sumbula told a delegation of British members of parliament that diamond producers needed to unite to streamline promotional campaigns
Botswana Plans 'Bold' Financial Stimulus
Gaborone: The government of Botswana has said that it will use some of its $8.5 billion in foreign exchange reserves to stimulate its economy following a drop in diamond prices. “We have realized our economy is going to stagnate,” said President Ian Khama in a televised speech, as quoted by Reuters. “The time has come for us to make bold
Growing Prominence of Latin America in Jewellery
Milan: CIBJO President Gaetano Cavalieri has drawn attention to the growing prominence of Latin America in the international jewellery business, and in particular to the role that is being played by Mexico, the region’s most valuable luxury product market. He was participating at a gathering of political and business leaders, as well as jewellers from across the Americas, during the
India Boosts Funding to Promote Exports
New Delhi: The Government of India has increased allocations for export incentive schemes across the economy, including the diamond and jewelry sectors, in the current financial year to $3.2 billion (Rs21,000 crore). Commerce Secretary Rita A. Teaotia told a meeting with representatives of 27 export promotion councils on October 7 that the new amount was an increase on the earlier
Antwerp Hosts WDC and KP Chair
Antwerp: The Antwerp World Diamond Centre (AWDC) welcomed the Kimberley Process (KP) Chair, His Excellency Wei Chuanzhong, Vice-Chair Bernardo Campos and the Mr. Edward Asscher, President of the World Diamond Council (WDC) for the purpose of renewing the Memorandum of Understanding (MoU) on the KP Administrative Support Mechanism (ASM). In 2012, the KP Plenary designated the World Diamond Council through
Barclays Fined $44 Million over Gold Fix
London: British authorities have fined Barclays, one of five banks that sets the price of gold each day in the London fix, nearly $44 million after a former trader improperly influenced the price-setting mechanism, reports jckonline.com. The British Financial Conduct Authority said that, in 2012, Daniel James Plunkett, a director on the bank’s precious metals desk, placed certain orders meant
GJF Announces Day-Long Interactive Workshop ‘Labham’
Mumbai: The All India Gems and Jewellery Trade Federation (GJF) and all major G&J Trade Associations, has announced the first-ever educational ‘Labham’ programme on 1st June 2014 in Rajkot onwards for all jewellers, manufacturers, traders and other constituents of the G&J businesses in and around Rajkot. It will be held in Chennai on 10th June and in New Delhi on
Gold Prices May Decline to Rs 24,000 by Diwali
Mumbai: Following the Reserve Bank easing the 20:80 gold import norms, India Bullion & Jewellers Association (IBJA) said gold prices are likely to fall to Rs 23,000-24,000 per 10 grams by Diwali as it also expects the Customs duty reduction in the forthcoming Budget, reports The Freepress Journal. “RBI’s easing of 20:80 gold import norms is positive for the gems
