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
Industry Proposals Discussed with GoI Official
Mumbai: On Saturday, November 29th, a delegation comprising members of the GJEPC and a BDB representative met with Joint Secretary, Department of Commerce, GoI. A presentation on the Bharat Diamond Bourse; and a comprehensive one on the Indian gem & jewellery industry were made to Dr. Mohapatra. The delegation had a detailed discussion on Presumptive Taxation, a long-time demand of
Surat Machinery Show Concluded with Success
Surat: The three-day India Gem & Jewellery Machinery Expo (IGJME) held at Surat drew to a close on Sunday with the flow of visitors peaking during the second half of the final day and exhibitors giving an overall positive rating to the second edition of the ‘machinery-only’ fair. While more than a few participants pointed out areas where improvement was
India Scraps 80:20 Norms
Mumbai: The Reserve Bank of India announced withdrawal on Friday with immediate effect of the gold import restrictions popularly known as the “80:20” scheme. Introduced in August last year to control the country’s widening current account deficit (CAD), the rule enjoined all gold importers to supply at least 20 per cent of the quantity brought in to jewellery exporters. Permission
Are Platinum Prices Manipulated?
New York: A family run jewellery firm has issued a legal notice against major banking corporations for their alleged involvement in the rigging of metals contracts. Modern Settings has filed a class action lawsuit against banking giants Goldman Sachs, HSBC and Standard Bank. They were joined by chemical company, BASF, alleging manipulation of benchmarks used to set the price of
Rio Tinto’s Zimbabwe Diamond Mine Output Drops
Harare: Rio Tinto said its 78 percent owned Murowa mine in Zimbabwe recorded a 4 percent drop in output to 101,000 carats during the fourth quarter of 2014. The company, which also has operations in Australia and Canada said its total rough diamond output declined 37 percent year on year to 2.841 million carats during the same period under consideration.
World Gold Demand to Grow Sharply in 2015
London: The latest research report by HSBC predicts that gold demand will rebound sharply in 2015 and may reach more than 4100 tonnes. According to HSBC, there will be two reasons for that: the back of buoyed physical buying in the Asian region, and increased flow of money into bullion-based Exchange Traded Products (ETPs). Gold prices posted annual drop in
IGJA 2014 Awards Function in Mumbai on Jan 29
Mumbai: Chief Minister of Maharashtra, Devendra Fadnavis will be the Chief Guest at function for the distribution of the India Gems & Jewellery Awards 2014 (IGJA) which will be held at NCPA, Mumbai on January 29, 2015. IGJA honours outstanding performers from within the industry across different product segments, banks and agencies involved in finance and supply of gold to
ADK’s Next Rough Diamond Days
Antwerp: The Antwerpsche Diamantkring (ADK), the world’s leading rough diamond bourse, announced it will hold the next edition of its Rough Diamond Days, February 25 and 26, in the ADK trading hall. The ADK’s history making first edition of the Rough Diamond Days was held last November. “It was a great opportunity to place the Kring in the spotlight,” ADK
