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Despite Global Losses & Firmer Rupee, Indian Gold & Silver Held Their Floors
Macro Snapshot: The selling that pushed both metals lower in the week ending 25 September came from the American bond market rather than from any bullion-specific news. S&P Global’s flash survey on 23 September put its composite output index at 58.4, the strongest reading since July 2021, with services at 58.7 and manufacturing at 56.7. On the same morning, Federal Reserve Governor Michael Barr said further policy adjustments were likely to be needed to return inflation to target. A poorly
Despite Global Losses & Firmer Rupee, Indian Gold & Silver Held Their Floors
Macro Snapshot: The selling that pushed both metals lower in the week ending 25 September came from the American bond market rather than from any bullion-specific news. S&P Global’s flash survey on 23 September put its composite output index at 58.4, the strongest reading since July 2021, with services at 58.7 and manufacturing at 56.7. On the same morning, Federal Reserve Governor Michael Barr said further policy adjustments were likely to be needed to return inflation to target. A poorly
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India’s Jewellery Exports More than Double this Year
Mumbai: The gold jewellery exports from India recorded significant surge of 114.67% year-on-year to $3,764.48 Million (Rs. 22,786.77 crore) during the period from April to November this year. Also, the exports of silver jewellery picked up significantly by 28.79% year-on-year to $1,310.54 Million (Rs. 7,951.80 crores) during the eight-month period, in accordance with the latest data released by the Gems
India to Introduce Alfa-Numeric Code for Jewellery
New Delhi: The central government is “actively considering” introduction of a nine-digit alphanumeric identity code for every jewellery item manufactured in India, to fix purity and traceability, reports Business Standard. The code is proposed to be encrypted on every ornament. The major aim is to protect consumers from being duped, through tracing of the origin, certifying and assaying of ornaments.
Gahcho Kué and Deninu Kué First Nation Sign IBA
Gaborone: De Beers Canada Inc. (De Beers) and Mountain Province Diamonds have entered into an Impact Benefit Agreement (IBA) with the Deninu Kué First Nation for the proposed Gahcho Kué diamond mine, a joint venture between De Beers (51%) and Mountain Province Diamonds (49%) located 280 km’s northeast of Yellowknife, Northwest Territories. De Beers is the Operator of the Gahcho
India’s Gold Imports Down in December
Mumbai: Despite the government removing restrictions on gold imports late past month, imports of the precious metal have not picked up because of a supply glut, reports Business Standard. Industry sources say hardly 15 tonne of gold has been imported in December so far on consignment basis. For two weeks after government lifted the 80:20 scheme, there were absolutely no
Forevermark Expands to UK and Ireland
London: Forevermark, the diamond brand from De Beers Group of Companies announced yesterday it will be expanding into the United Kingdom and Ireland this autumn. Crossworks Manufacturing Ltd. has been appointed as the only licensee partner and will be working with a select number of retailers to bring Forevermark diamonds to the region. Forevermark CEO Stephen Lussier comments, “London is
Gaetano Cavalieri Addresses ECOSOC
Milan: CIBJO President Gaetano Cavalieri has addressed the High Level Segment of the UN Economic and Social Council in New York, and in his presentation stressed the commitment of both CIBJO and the international jewellery sector to assisting the United Nations meet its development goals. Dr. Cavalieri was addressing the annual keynote gathering of the UN agency as the head
5th Edition of IIJW Inaugurated in Mumbai
Mumbai: After completion of four successful years, the 5th edition of India International Jewellery Week, popularly known as IIJW, was inaugurated this morning in Mumbai by Mrs. Rashmi Thackeray. Present at the inauguration were Mr. Vipul Shah, Chairman of the Gem & Jewellery Export Promotion Council (GJEPC), Mr. Pankaj Parekh, Vice Chairman of GJEPC and other degnitories. Conceived and conceptualized
HRD Antwerp Adjusting Parameters of Cut Grade
Antwerp: HRD Antwerp is to adjust the proportion parameters of its Cut Grade, with changes taking place as of July 14. The Belgian lab said it is making the move “in order to be more compliant with the market standard, while maintaining the highest-quality grading standards that HRD Antwerp is known for”. “The HRD Antwerp Cut Grade is based on
