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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Diamond Processing in Gujarat to Get Hi-Tech
Surat: The small and medium diamond manufacturers in Gujarat will now be able to increase their output using modern technology, reports The Times of India. The Union ministry of commerce and industries has given an in-principle approval for setting up a Common Facility Centre (CFC) in Ahmedabad, Amreli, Visnagar and Palanpur. The centre will be equipped with modern equipments for
Manish Jain is New Chairman of GJF
Mumbai: The All India Gems and Jewellery Trade Federation (GJF) announced names of members of its Committee of Administration (COA) for the term 2015 – 2017. The COA for the term comprises a 24 Member team who are industry stalwarts, having been a part of the gem and jewellery industry for several decades. Speaking on the formation of the new
Weak Ruble Boosts ALROSA Revenue, Profit in 1Q
Moscow: ALROSA reported that revenue and profit jumped in the first quarter of 2015, despite prevailing weak market conditions, as the mining company benefited from the sharp depreciation of the Russian ruble against the U.S. dollar. “[First quarter] results were mainly driven by a favorable foreign-exchange market environment,” explained Andrey Zharkov, ALROSA’s CEO. He added that the diamond market was
Christie’s Hong Kong Sets Record in Asia
Hong Kong: The June 2 Christie’s Hong Kong Magnificent Jewels sale garnered nearly $118 million, setting a record for the most valuable jewelry auction ever held in Asia. Three pieces broke world records during the auction: A 120 ct. Burmese ruby and diamond necklace by Etcetera sold for $13 million, setting a world auction record for a ruby necklace; a
Purple-Pink Diamond May Set New Record
Hong Kong: Auctioneer Sotheby’s will put an 8.41-carat pear-shaped internally flawless fancy vivid purple-pink diamond on the block in Hong Kong on October 7, with a pre-sale estimate of $12.8 million to $15.4 million. If the diamond is sold at the top of the estimate range, it will become one of the top three pink stones ever sold at auction
HRD Antwerp Launches 16th Edition of HRD Awards
Antwerp: HRD Antwerp has announced the launch of the 16th edition of the HRD Awards, the world’s leading design contest in creative and innovative diamond jewellery. The HRD Awards will be held within the framework of the World Expo Milano which will run from May 1st to October 31, 2015. The theme of the 2015 HRD Awards will be “A
Global Rough Prices Up by 6-7% in 2014
Moscow: Since the beginning of 2014 till the end of the first half rough diamond prices rose by an average of 6-7% at the global market. This estimate is stipulated in the recent report of ALROSA for the second quarter, cited by Finmarket.ru. Majority of market players have observed the negative trend shifted to stabilization or growth of prices in
De Beers to Accept Registration of Interest for New Sightholders
Gaborone: The De Beers Group of Companies today confirmed that it will accept registrations of interest for its 2015-2018 Global Sightholder Sales contractual period from 25th–29th August, 2014. Any diamond businesses interested in applying for supply from the start of the new contractual period will need a Key Individual from their Group to register at www.debeerssightholder.com/apply between these dates. General
