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
DDE to Host Second Diamond Conference
Dubai: The Dubai Diamond Exchange (DDE) has announced that it will host the second Dubai Diamond Conference. The agenda will include panel discussions on business development in Africa, ethics, finance and synthetic diamonds. The two-day event will include speakers from Africa, the Middle East and Asia, including several ministers of Mines and Mineral Resources from leading African diamond producing countries.
Indian Jewellery Firms Struggle to Get Credit
Mumbai: Jewellery firms are finding it increasingly hard to get credit to import raw material and ship out their wares as banks tighten the screws, worried about defaults and sharp practices in the sector, reports Business Today. The problem has become so acute that jewellery industry executives are sitting down for talks next Tuesday with finance ministry officials, said Bachhraj
Lust for Gold Eating up World’s Last Rainforests
New York: Global demand for gold is putting some of the most remote and pristine tropical forests at risk, especially in South America, a study published in Environmental Research Letters shows. Most of the deforestation for mining occurred after 2007, when gold demand increased following the financial crisis as investors sought a safe haven for their money. Around 1,680 sq.
India’s Gold Imports to Fall in January ’15
Mumbai: Huge quantities of gold were imported by nominated agencies during November’14 in anticipation that the Indian government will introduce some stricter import curbs. But the opposite happened as the government withdrew the 80:20 rule, which tied imports to exports, that made gold easily available in the Indian market. Gold imports surged in value terms in November to $5.61 billion,
Zimbabwe’s Local Auction Oversubscribed
Harare: First Element, which conducted Zimbabwe’s first local diamond tender in Harare last week, said although the stones that were placed under the hammer were few, there was a strong appetite from foreign buyers. Company managing director Johan Erikson told a diamond conference that was convened last week in Harare that about 400 buyers and 133 companies attended the auction.
Antwerp's Diamond Figures Drop Slightly
Antwerp: The Antwerp diamond sector’s trade figures in October decreased slightly compared to the same month last year. Figures show that slightly fewer polished diamonds were traded, but the value of diamonds traded was higher compared to the value of polished diamonds traded in October last year. Rough diamond trade figures also show a decline compared to October 2013, but
CIBJO Moots Carbon-Free Jewellery Industry
London: CIBJO President Gaetano Cavalieri has held a meeting in London with Lord Deben, Chairman of the Independent Committee on Climate Change in the United Kingdom, during which they discussed CIBJO’s educational programme for a carbon-free jewellery industry, which was outlined at the CIBJO Congress in Moscow in May. A renowned authority on environmental sustainability, Lord Deben also chairs the
KP Faces Fractious Battle Over '15 Vice-Chair Vote
Guangzhou: One of the biggest questions facing delegates at the plenary meeting of the Kimberley Process in Guangzhou, China which started yesterday and ends on November 14 will be which country is elected as Vice Chair for 2015. With Angola set to become Chair on January 1, Dubai and Australia are the candidates for the position of Vice Chair. However,
