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
Top News
Alrosa Not Changing Strategy
Moscow: The new president of ALROSA Andrei Zharkov says there is no need to change the long-term strategy previously adopted by the company. The “manual adjustment” of some of sales policy mechanisms is possible to increase efficiency during recession or rising prices. “I don’t think it is now necessary to adjust the strategy and the long-term program of ALROSA approved
Bank Of China Joins LBMA Gold Price Setters
Beijing: The Bank of China has been accepted as one of the group of London Bullion Market Association (LBMA) banks which sets the London Gold Price. ICE Benchmark Administration has announced that Bank of China will be joining the group of banks from June 22. This provides a benchmark price that is widely used across the globe by participants such
KP Meeting in Angola from 22nd June
Luanda: Angola, which is currently chairing the Kimberley Process (KP), is set to host the diamond watchdog’s intercession meeting from 22 to 26 June in the capital, Luanda. Angolan state-controlled news agency, Angop, reports that the meeting would bring together more than 200 delegates from 82 countries. The gathering was expected to assess the activities undertaken by the organization since
CAR Warlords Use Diamonds to Fund Conflict
Washington: According to a report released by The Enough Project, a Washington, DC-based organization that works to end genocide and crimes against humanity, the total current value of the illicit diamond trade and taxation by armed groups in the Central Africa Republic (CAR) is estimated to be between $3.87 and $5.8 million dollars annually. Warlord Business reveals that although CAR
New UK Guidelines to Boost Ethical Sourcing of Jewellery
London: New guidelines in the UK are set to help boost ethical sourcing of jewellery. The recommendations from the government are to make retailers and producers aware of human rights abuses that take place in their supply chains. Gold, diamonds and other precious stones and metals are often sourced from areas in Africa and South America where labourers face appalling
GJEPC Had Successful Diamond Week in New York
Mumbai: The Diamond Dealers Club (DDC) and the Gems & Jewellery Export Promotion Council (GJEPC) have praised the success of the first India Diamond Week held at the bourse last week. The DDC said that “significant business transactions and new connections were made on the DDC’s trading floor by U.S. and overseas participants”. “The four-day exhibition, following on the heels
India's Gold Curbs Likely to Stay Till Next Year: WGC
Mumbai: Indian gold demand in 2014 will fall below last year’s record levels as import restrictions are expected to remain in place, despite an improvement in demand in the second half of the year, the World Gold Council (WGC) said. Indian demand in 2014 will be 850-950 tonnes, the industry body said, down 50 tonnes from its earlier forecast. China’s
Global Gold Jewellery Demand Sank by 30%
London: U.S. demand for gold jewelry rose 15 percent in the second quarter of 2014, even as overall worldwide demand took a nosedive, according to the World Gold Council’s latest report on the sector. The increased U.S. demand was fueled by lower price points and increased consumer confidence, as well as the fashion business increasingly using yellow gold, says Alistair
