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
43rd Baselworld Ended on a Positive Note
Basel: Baselworld came to an end after 8 days of non-stop activity from March 19th to 26th. Swiss Exhibitors are in a positive mood. Despite a small drop in the number of buyers (-3%), this year’s edition drew a record number of 4,300 media representatives (+7.5%), bringing total attendance to 150,000, in line with last year. Professionals travelled from around
Diamond Miners in Zimbabwe on Looting Spree
Harare: Diamond mining companies operating in Zimbabwe’s Marange diamond fields are reportedly on a last minute looting spree ahead of a loathed mandatory consolidation exercise. As government peruses through various consolidation proposals submitted by seven companies operating in Marange and prepares for an audit, miners are reportedly exploiting the existing loopholes as they await their fate under the new structure.
GJEPC to Launch DDRC with IDI in Surat
Mumbai: The Gem & Jewellery Export Promotion Council (GJEPC) will soon be launching a Diamond Detection Resource Center (DDRC) at the Indian Diamond Institute, Surat (IDI). The centre will be operated and managed by the IDI, and will be fully equipped to detect synthetic diamonds. Opening of the DDRC will help small and medium enterprises in the city to detect
More Undisclosed Synthetics Appearing at GIA
New York: The Gemological Institute of America is spotting more undisclosed lab-grown diamonds at its grading labs, says Tom Moses, executive vice president of GIA laboratory and research, according to a report appeared in JCKonline. “There clearly has been an increase in [undisclosed synthetics]. I can’t tell you how much the increase has been, but we have seen more in
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
Zimbabwe Cuts Gold Levy to Assist Revival
Harare: Patrick Chinamasa, the Zimbabwean finance minister reduced royalties on gold producers from 7% to 5% in a bid to incentivize growth in the mining sector which is now faced by a negative growth of 1.9% for this year. Zimbabwe is a resource- and agro-based economy whose manufacturing and industry sectors are wobbling. The mining sector has, however, been showing
Viewing of first Grib Diamonds Begins Today
Antwerp: The viewing of the first production of Grib Diamonds NV, a 100% owned subsidiary of OAO LUKOIL, will begin on Monday, September 15th, and will conclude on the following Monday. Consequently, on Tuesday September 23rd, the company will hold its first-ever, online auction of rough diamonds from the diamond mine named after Vladimir Grib in Arkhangelsk region (Russian Federation).
