We Wish to Build Globally Relevant SKY Gold: Akash Talesara
Israel’s Diamond Industry Under Severe Pressure
Did Natural Diamond Ind. Misjudge LGD Threat?
A Surging Rupee Tripled Gold’s Global Loss in India as Silver Broke Down
Macro Snapshot: The Reserve Bank of India changed the domestic arithmetic before trading opened on 12 October. On 10 October it announced a special window to meet the entire daily dollar requirement of Indian Oil, Bharat Petroleum and Hindustan Petroleum directly from its reserves, taking a large block of import demand out of the spot market. The central bank also tightened rupee derivative rules, imposing a 20% Foreign Exchange Risk Reserve on eligible contracts above $2 million and barring the
A Surging Rupee Tripled Gold’s Global Loss in India as Silver Broke Down
Macro Snapshot: The Reserve Bank of India changed the domestic arithmetic before trading opened on 12 October. On 10 October it announced a special window to meet the entire daily dollar requirement of Indian Oil, Bharat Petroleum and Hindustan Petroleum directly from its reserves, taking a large block of import demand out of the spot market. The central bank also tightened rupee derivative rules, imposing a 20% Foreign Exchange Risk Reserve on eligible contracts above $2 million and barring the
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Jeffrey Bilgore Elected President of AGTA
New York: The American Gem Trade Association (AGTA) announced the results of its annual board of directors’ election, according to a statement released September 11. Jeffrey Bilgore of Jeffrey Bilgore, LLC, was elected President. Cynthia Renée (Marcusson) of Cynthia Renee, Inc., and Avi Raz of A & Z Pearls, Inc., were re-elected as directors to the board. Kusam Malhotra of
Alrosa to cut rough Prices by 8 to 10%
Moscow: Russian diamond miner ALROSA will lower rough diamond prices at its September trading session by 8% to 10%, Russian news agency Interfax reported Sept. 15, citing two unnamed sources involved in diamond trading. The company took the decision to reduce prices Sept. 14, according to the news wire. “Preliminarily, the drop is 10%, in the framework of the market
UAE to Become Chair of KP In 2016
Dubai: Dubai Multi Commodity Centre (DMCC), one of the world’s leading commodity hubs and the UAE Ministry of Economy’s authority for the Kimberley Process Certification Scheme (KP), welcomed the selection of the UAE as the Vice-Chair of the KP in 2015. The appointment was recently confirmed through a voting process involving all KP Participants. The UAE will assume the role
Gujarat Hira Bourse Denotified as SEZ
Surat: The Gujarat Hira Bourse (GHB) project in Surat has been denotified as a Special Economic Zone, according to a decision taken by the Ministry of Commerce, Government of India recently, reports gjepc.org. The notification from the ministry, signed by Dr. Guruprasad Mohapatra, Jt Secy, Department of Commerce, has rescinded an earlier government order of 2007 under which the bulk
Belgian Politician Warns Against Diamond Sanctions
Antwerp: The 36th World Diamond Congress (WDC) has opened in Antwerp, with Minister-President of Flanders, Kris Peeters, warning of the “catastrophic” impact that sanctions relating to the diamond industry could have. The Congress is the bi-annual meeting of the World Federation of Diamond Bourses (WFDB) and the International Diamond Manufacturers Association (IDMA). Talking of the huge role of the diamond
WFDB Accepts Canada and S. Korea as New Members
Antwerp: The World Federation of Diamond Bourses (WFDB) has accepted the applications for membership of two bourses – the Canada Diamond Bourse and the South Korean diamond exchange. WFDB members approved the applications at the 36th World Diamond Congress in Antwerp which opened yesterday. The Congress is the bi-annual meeting of WFDB and the International Diamond Manufacturers Association (IDMA). The
Diamond Mfrg. Industry Fighting for Survival: IDMA
Antwerp: “Diamond manufacturers worldwide are fighting for their survival. They are caught between – and battered by – the proverbial hammer, a rough diamond supply system that is foul and faulty – and the anvil, a vertically integrated financial structure that basically continues to bleed them,” Maxim Shkadov, president of the International Diamond Manufacturers Association (IDMA), the representative body of
Gold Prices Unlikely to Settle due to Iraq Tensions
Mumbai: With the turmoil in Ukraine almost gone from the headlines, gold’s status as a hard asset and storer of wealth in times of trouble lost some of its shine. But as Iraq spirals into all-out war and the US looks in danger of being pulled back into a conflict it has spent the last six years extricating itself from,
