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
Gold Recycling to Gain Ground in Asia: WGC
Boston: Gold recycling in Asia is expected to gain ground as China and India continue to be major centres of global gold demand, according to a recent report by the World Gold Council (WGC) and the Boston Consulting Group. The report, “The Ups and Downs of Gold Recycling,” discussed market drivers and challenges in the global gold recycling industry. According
AWDC Renews Support of DDI
Antwerp: Antwerp World Diamond Centre (AWDC) has made an important contribution to the Diamond Development Initiative (DDI), announced the AWDC and DDI. This year’s grant will be the third donation from the Centre in support of DDI’s work in bringing development to artisanal mining communities. Ari Epstein, CEO of the Antwerp World Diamond Council, said, “AWDC supports DDI because it
Miners Urged to Start Generic Promotion
Surat: The Gem and Jewellery Export Promotion Council (GJEPC) of India has urged the diamond mining companies of the world, including De Beers, to embark upon generic promotion to sustain the diamond dream. GJEPC office-bearers said generic promotion is extremely important because of huge competition from luxury items, not necessarily jewellery. Generic promotion will position diamond as a valuable product
EGL Rights Holders Reorganize Israel Operations
Ramat Gan: The holders of EGL rights in Israel and Guy D. Benhamou announced on Wednesday that the Eurogem laboratory in Israel (also known as EGL International), located in the Noam Building, Tuval Street 21, in Ramat-Gan, will be ending its operations as an EGL laboratory as of April 2, 2015. EGL thanks Benhamou for his 23 years of service
Now Polygon Bans EGL Reports From Network
New York: The Polygon trading network will no longer list diamonds with European Gemological Laboratory (EGL) International reports on its service—although another platform, IDEX, says EGL reports remain welcome. The announcements come in the wake of trading network RapNet’s decision to ban all EGL reports. “We have been closely following the current discussions regarding EGL International, both on and off
De Beers Held Talks with Dubai Diamond Exchange
Dubai: A delegation of senior executives from De Beers visited the Dubai Diamond Exchange (DDE) on September 14, with the sides discussing future collaboration, the increasing role that the producing nations play along the New Silk Route and the opportunities this shift is bringing. DDE Chairman Peter Meeus hosted the delegation along DMCC Chief Executive Officer Gautam Sashittal. The De
Gemfields to Explore Gemstones in Sri Lanka
Colombo: Colored gemstone miner, Gemfields Plc formed a joint venture East West Gem Investments Ltd. (EWGI) to explore sapphire and gemstones in Sri Lanka. Under the agreement, the joint venture will operate through three Sri Lankan subsidiaries. Gemfields will hold a 75 percent stake in the project with EWGI holding the remaining 25 percent stake. Gemfields said it acquired a
First Texas-Israel Diamond Show Sparks Great Interest
Ramat Gan: The first Texas-Israel Diamond Show, taking place later this month in San Antonio, promises to be an exciting event for both sides. The show, sponsored by the Texas Jewelers Association (TJA) and the Israel Diamond Institute (IDI), is an unprecedented opportunity for Israeli diamond exporters and Texas jewelers to meet face to face and to do business. The
