We Wish to Build Globally Relevant SKY Gold: Akash Talesara
Israel’s Diamond Industry Under Severe Pressure
Did Natural Diamond Ind. Misjudge LGD Threat?
With December Hike Odds Intact, Can a Midterm Rally Repair Gold, Silver’s Breakdowns?
Macro Snapshot: Gold posted its best week since late August, but it got there on rate relief that had disappeared by Friday. COMEX gold rose 4.5% to $4,074.9 and silver 5.4% to $51.94 while cheaper oil pushed the odds of a December Fed hike down from about 71% on 30 October to 64% ahead of Friday’s payrolls, according to CME FedWatch readings reported by Benzinga and Reuters. The jobs data sent the odds back up to 74.8%, CNBC reported, a
With December Hike Odds Intact, Can a Midterm Rally Repair Gold, Silver’s Breakdowns?
Macro Snapshot: Gold posted its best week since late August, but it got there on rate relief that had disappeared by Friday. COMEX gold rose 4.5% to $4,074.9 and silver 5.4% to $51.94 while cheaper oil pushed the odds of a December Fed hike down from about 71% on 30 October to 64% ahead of Friday’s payrolls, according to CME FedWatch readings reported by Benzinga and Reuters. The jobs data sent the odds back up to 74.8%, CNBC reported, a
Top News
Alrosa to up investment in Angola
Moscow: Russian diamond mining giant Alrosa, which currently has a stake in Angola’s Catoca, is set to up its investment in the southern African country. Catoca produces about 75 percent of Angola’s gems. Angolan news agency, Angop quoted the company chief executive Andrey Zharkov as saying that Arosa would implement a series of projects in partnership with Endiama and other
India May Scrap Import Curbs on Gold-Silver Alloy
Mumbai: Officials of the Reserve Bank of India (RBI) and the country’s finance ministry are in talks to scrap bulk import licenses for a gold-silver alloy used by domestic refiners, months after relaxing curbs on gold imports, it is learnt. Gold is India’s second-highest import in value terms, and a jump in imports widened the current account deficit in 2013,
Bitcoin Tech Used to Combat Diamond Fraud
London: A new fraud detection company called Everledger is utilizing Bitcoin blockchain technology to prevent insurance fraud. How will they do it? The company focuses on 40 metadata points in addition to the 4Cs (color, cut, clarity and carat weight) that identify a diamond. Laboratory houses digitize a diamond on the basis of these parameters and Everledger then takes the
World’s 1st Electronic Exchange for Diamond Market
Singapore: Singapore Diamond Investment Exchange Pte Ltd (SDiX) announced recently the upcoming launch of the world’s first commodities exchange in physically settled diamonds in Singapore, targeted to go ‘live’ in September 2015. The SDiX platform, the first of its kind globally, will utilize proven exchange technology to create a new marketplace for the global diamond trade, and is designed to
8.41 ct. Pink Diamond Fetches Record Price!
Hong Kong: An 8.41 ct. purplish-pink fetched $17.8 million—or $2.1 million a carat—at the Sotheby’s Oct. 7 jewelry auction in Hong Kong, setting a new record for a vivid pink at auction. The vivid purplish-pink gem “attracted keen competition,” the auction house said, before breaking the previous $10.7 million record set by a 5 ct. vivid pink stone in Hong
Zimbabwe Running Out of Diamonds
Harare: Zimbabwe is fast running out of diamonds, the latest figures reveal. Zimbabwe diamond exports in sharp decline as alluvial stones run out. Industrial-grade diamonds dominate Zimbabwe’s gem exports, although sales sharply declined to $188 million in 2013 from nearly $658 million in the previous year due to weakening demand from the United Arab Emirates, China and Belgium as mining
Gold Jewellery Testing Centres in India
Mumbai: To safeguard the interest of the end consumer, the Bureau of Indian Standards (BIS) is coming up with a policy by which a customer will be able to get his gold jewellery tested at the Bureau’s local office. According to the policy, in the event the purity is not as guaranteed by the jeweller, the Assaying and Hallmarking (A&H)
Indian Diamantaires Offer Large Discounts
Mumbai: Severe liquidity problems are forcing some Indian diamond companies to offer large discounts to off-load inventory in order to pay off loans, according to Indian media reports. The liquidity issues have been sharpened further by the winding down of the Antwerp Diamond Bank (ADB), and recent reports that Standard Chartered Bank is cutting back its exposure to the diamond
