We Wish to Build Globally Relevant SKY Gold: Akash Talesara
Israel’s Diamond Industry Under Severe Pressure
Did Natural Diamond Ind. Misjudge LGD Threat?
Despite Collapsing Hike Odds, Rising Yields Kept Indian Gold, Silver Below Their Floors
Snap Shot: Most of the damage in the week ending 2 October landed before the good news arrived, and the good news then failed to repair it. August core PCE inflation, released on 30 September, rose 3.0% from a year earlier against expectations of 3.3%, helped partly by methodology changes at the Bureau of Economic Analysis. September payrolls on 2 October then added just 29,000 jobs against forecasts near 90,000, with unemployment at 4.2% and August revised down to 133,000
Despite Collapsing Hike Odds, Rising Yields Kept Indian Gold, Silver Below Their Floors
Snap Shot: Most of the damage in the week ending 2 October landed before the good news arrived, and the good news then failed to repair it. August core PCE inflation, released on 30 September, rose 3.0% from a year earlier against expectations of 3.3%, helped partly by methodology changes at the Bureau of Economic Analysis. September payrolls on 2 October then added just 29,000 jobs against forecasts near 90,000, with unemployment at 4.2% and August revised down to 133,000
Top News
Online Sales to Surge 40% for Valentine's Week
Mumbai: ASSOCHAM forecast that Valentine’s week online sales in India will jump 40 percent year on year to $3.53 billion (INR 220 billion) as consumers have increased spending power and they strive to celebrate the festival with gifts of jewelry, flowers and electronics. The week has already begun with Rose Day on February 7, followed by Proposal Day on February
US Platinum Jewelry Imports Jump 60%
New York: US platinum jewellery imports surged more than 60% in 2014 from a year ago, while imports of gold jewellery rose 15%, according to Thomson Reuters GFMS calculations released on Tuesday and based on US Census data. The US imported 1 156 kg of platinum jewellery in 2014, up 61% from 719 kg in 2013 because of steep declines
Rio Tinto Registers 6% Growth in Diamond Rev.
Perth: Rio Tinto recorded a 6 percent increase year over year in diamond revenues grossing $901 million for the year ended December 31, 2014. The group’s net diamond earnings for the year jumped to $104 million, from $53 million a year earlier. The diamond division has also posted a 23 percent year-over-year increase in EBITDA to $315 million. Rio Tinto’s
India Posts Strong Growth in Jewellery Demand
Mumbai: 2014 saw a stabilization of the gold market as it pulled back from the extremes of 2013, according to the latest Gold Demand Trends full year report presented by Mr. Somasundaram PR, (MD, India) of the World Gold Council (WGC). Annual gold demand was 3,924 tonnes (t), 4% lower than 2013. The year ended strongly, with gold demand in
Mbada Diamonds Cuts Salaries, 4 Executives Resign
Harare: Workers at Zimbabwe’s leading diamond producer, Mbada Diamonds, staged a sit-in last week after its management slashed their salaries by 50 percent, claiming there had been a massive decline in production. The decision to reduce salaries also resulted in four senior managers tendering their resignations in protest. Workers told New Zimbabwe that they were also not happy with management’s
Tanzanite Foundation Shutting Down
New York: The New York City–based Tanzanite Foundation will cease operations on Aug. 31. Tanzanite Foundation executive director Hayley Henning confirmed to JCK this week that the 11-year-old promotional agency for tanzanite will close at the end of August. Formed by miner TanzaniteOne, the nonprofit foundation has served all ethical and socially responsible operators and partners in the tanzanite industry,
New York Orders Comprehensive Ivory Ban
New York: New York’s Governor Andrew Cuomo signed legislation yesterday that amends the state’s environmental law to ban elephant ivory, mammoth ivory and rhino horn sales in New York. This state legislation enhances federal efforts to tighten the ivory trade ban on a federal level. Under the law, this permanent ban on the sales of these products has only a
Gemfields Reports Auction Revenues of $15.5 Million
Lusaka: Gemfields plc reported auction revenues of $15.5 million, the second highest achieved at any lower quality auction, of its auction of mostly lower quality rough emerald and beryl held in Lusaka, Zambia, from August 5 to 8. Excluding the sale of 1.5 tonnes of low grade beryl, the average realized price was $3.61 per carat, a new record for
