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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WFDB Presi. Ernie Blom Praises New ISO Standard
Antwerp: World Federation of Diamond Bourses (WFDB) President Ernie Blom has praised the release of ISO International Standard 18323: Jewellery – Consumer confidence in the diamond industry. Providing a series of definitions which aim to provide further clarity for traders and to maintain consumer confidence in the diamond industry as a whole, the WFDB was involved in formulating them, said
Crisis Worsens: De Beers Allowing Large Deferrals
Gaborone: In an unprecedented move and a sign of the diamond industry’s deepening crisis, De Beers is letting sightholders put off buying up to 75 percent of their allocations at its August sight, reports jckonline. This comes amid several reports of defaults in the Indian industry, including reported problems at one substantial company, Godhani Gems. There are also reports of
CIBJO welcomes publication of ISO Int'l Standard
Milan: CIBJO has welcomed the publication of ISO International Standard 18323, entitled “Jewellery – Consumer confidence in the diamond industry,” which specifies a set of permitted descriptors for the diamond industry that are designed to be understood by consumers. The new ruling by the International Standards Organization explicitly defines a diamond as having been “created by nature” and further notes
Rajesh Exports Acquires Largest Gold Refinery
Mumbai: Valcambi is the world’s largest precious metal’s refining company headquartered at Switzerland. Valcambi has processed and sold 945 tons of Gold and 325 tons of Silver on an average per year during the last three financial years which is more than the annual consumption of gold in India. Valcambi refinery is London Bullion Market Association (LBMA) accredited and Valcambi
India, China Driving Demand Growth for Diamonds
Hong Kong: Surging demand for diamonds in China and India may see the two countries match the size of market in the U.S., the biggest consumer, by 2020, reports Bloomberg. “We will see strong growth in India as soon as the country gets its house in order with the new government,” Jean-Marc Lieberherr, managing director of Rio Tinto Group (RIO)’s
ADB Issue Can Still Be Solved
Antwerp: “There is still room to find a solution, to keep the financing levels of the Antwerp diamond sector at market conform levels.” This is AWDC’s reaction to the news that KBC will proceed with an ‘orderly wind-down’ of the Antwerp Diamond Bank. “As an umbrella organization we have been duly following the developments in this matter,” says Margaux Donckier,
IDW in New York– Unique Diamond Sourcing Opportunity
Ramat Gan: The third edition of the Israel Diamond Week in New York, to be held November 10-13, 2014, is the last-stop-station for diamond buyers toward the holiday season, and, in the words of Reuven Kaufman, President of the Diamond Dealers Club of New York (DDC), “a grand opportunity to stock up on polished diamonds” The event, held on the
Zimbabwe’s Diamonds Seized in Belgium
Harare: Zimbabwe risks losing 45 million U. S. dollars diamond revenue from Belgium after a South African company sued for wrongful cancellation of its platinum mining agreement with a Zimbabwe state mining firm in 2010, state media reported Thursday. Zimbabwe began trading its diamonds in Antwerp in November last year after the European Union lifted sanctions on the Zimbabwe Mining
