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
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
GJEPC Begins Process of Issuing ID Cards
Mumbai: The Gem & Jewellery Export Promotion Council has begun the process of issuing GJEPC Photo ID card to its members, which will have an annual validity up to March 31st of every year. It will be renewed subject to the renewal of membership of the card holder. The GIEPC Photo ID card will contain the name of the member
ALROSA and IDE Sign MoU
Ramat Gan: ALROSA and Israel Diamond Exchange (IDE) signed a Memorandum of Understanding (MoU) aimed at strengthening partnership between the company and Israel diamond community, to develop the diamond industries of both countries and promote the business in the international market. The document was signed at the sidelines of International Diamond Week in Israel on February 9 by Andrey Polyakov,
America to Set up Jewellery Units in India
Mumbai: In what could be a significant boost for the ‘Make in India’ campaign, the gem and jewellery sector could see participation from the U.S., the world’s largest market for jewellery, to set up manufacturing hubs in India, reports The Hindu. In this direction, the Federation of Indian Chambers of Commerce and Industry’s (FICCI) Gems & Jewellery, Luxury and Lifestyle
EGL Int’l: No Single Diamond Grading Standard Exists
Ramat Gan: There is no single international standard for diamond grading, said Israeli lab EGL International in a statement in response to recent actions by trading networks. “With regard to the Rapaport Group’s decision to delist diamond grading reports of EGL and that it views GIA as the industry standard…the use of the term standard suggests that such a standard
Global Diplomats Tour Antwerp’s Diamond Sector
Antwerp: On Wednesday, 150 diplomats descended upon Antwerp. In the context of the Diplomatic Day, organized by the City of Antwerp, they visited the Antwerp World Diamond Centre. Diamond Office, the beating heart of AWDC, attracted a lot of interest. Just like diamonds, diplomats travel around the world. Wherever they go, they transmit their knowledge. As diamonds are one of
Indian Diamantaires to Set Up Mfg Units in Ras Al Khaimah
Ras Al Khaimah: Officials from Ras Al Khaimah (UAE) and India’s leading diamantaires gathered for a high-level meeting recently at the Surat Diamond Association (SDA) premises, according to a press release. The Government of Ras Al Khaimah was represented by officials Alan Nixon – Associate Manager, International Business Development, Government of Ras Al Khaimah and Ashok Shridharan – CA, Government
Alrosa to Prospect for Zimbabwe Diamonds
Moscow: Diamond giant Alrosa is set to prospect for diamonds in Zimbabwe with DTZ-OZGEO, a Zimbabwe-Russia joint venture company. Reuters quoted Russia’s trade and industry minister Denis Manturov as saying that Alrosa and DTZ-OZGEO would prospect for diamonds throughout Zimbabwe. Currently diamonds were being mined in the south of the country by private company River Ranch, in central Zimbabwe by
