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
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IDI Launches Holiday B2C Sales Platform
Ramat Gan: The Israeli Diamond Industry is gearing up for Cyber Monday with a pop-up B2C e-commerce platform for loose diamonds and diamond jewelry, launched by the Israel Diamond Institute Group of Companies (IDI). The dedicated mini-site, which will offer goods at considerable discounts from some of Israel’s leading companies, will go live on December 1 and will be up
India's Oct. Polished Exports -15%
Mumbai: India’s polished diamond exports fell 15 percent year on year to $2.219 billion in October, data published by the Gem and Jewellery Export Promotion Council (GJEPC) showed. By volume, exports dropped 16 percent to 3.786 million carats, while the average price of the exports rose 2 percent to $686.78 per carat. Polished imports to the country increased 3 percent
WFDB Calls for Action against Over Grading
Antwerp: In a signed, open letter, Ernie Blom, President of the World Federation of Diamond Bourses has warned that “overstated certification” or the practice of over grading by labs could cause a serious erosion of consumer confidence. In some cases he said, such a practice could also be construed as fraud and have criminal implications. Blom called for all member
Diamonds worth $24 Mln Smuggled Out of CAR
Bangui: Diamonds worth $24-million have been reportedly smuggled out of the Central African Republic (CAR) since the Kimberley Process suspension of exports last year, Mining Weekly reports. Seleka rebels and “anti-balaka” militia are providing security to local diamond traders, who initially pay the warring groups for safe access to diamond fields and then for ongoing protection during mining. “It’s a
GJEPC Presents Pre-Budget Recommendations
New Delhi: India’s GJEPC Chairman Mr. Vipul Shah presented key recommendations for the gem & jewellery trade at yesterday’s pre-budget meeting with Union Finance Minister Mrs. Nirmala Sitharaman. Mr. Shah said, “The Indian gems and jewellery industry contributes around 10% to India’s total merchandise exports. However, the industry is currently facing some challenges due to the geopolitical scenario, the emergence
Sanctions: EU Extends Sunrise Period
Antwerp: European Union (EU) is extending the “sunrise period” for the traceability of sanctioned Russian diamonds by six months, and allowing trade in “grandfathered stock” – goods imported before restrictions were imposed. Both announcements were made yesterday as part of its 14th package of sanctions, according to the AWDC (Antwerp World Diamond Centre), which has been calling for concessions. The
IIJS Premiere Gets Exhibition Excellence Awards
Mumbai: It was a Proud moment for India’s Gem & Jewellery Export Promotion Council (GJEPC) when the India International Jewellery Show (IIJS) Premiere received Exhibition Excellence Awards on 21st June 2024 in Mumbai. “IIJS Premiere 2023” won two awards 1) Top Sourcing Show of India – Winner and 2) India’s Grand Show -1st runner’s up. The winner awards were received
India Pavilion at JGA Hong Kong 2024
Hong Kong: The Gem & Jewellery Export Promotion Council (GJEPC) is proud to announce India Pavilion participation in the Jewellery & Gem Asia (JGA) Hong Kong, being helf from June 20-23, 2024, at the Hong Kong Convention and Exhibition Centre. This prestigious event stands as Asia’s unmatched mid-year B2B sourcing platform for the gem and jewellery industry. The India Pavilion,
