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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Tanzania to Temporarily Ban Gemstones Exports
Dar-Es-Salaam: Tanzania is to impose a moratorium, albeit temporary, on the exportation of gemstones in a bid to “strengthen” the domestic market, according to the local media. The move is also meant to transform Tanzania’s northern tourist city of Arusha into a gemstone centre. Ministry of Energy and Minerals spokesperson Badra Masoud was quoted as saying that the decision would
EGL Asia and China's NGGC Renew Agreement
Ramat Gan: The Hong Kong-headquartered EGL Asia and NGGC, the state-owned, leading Chinese diamond grading laboratory, signed an agreement which renews and prolongs the close cooperation between the two institutions. The agreement was signed in Ramat Gan, Israel, during a visit of a Chinese delegation of representatives of the Shanghai Institute of Measurement and Testing Technology (SIMT) and NGGC. The
Gemfields Rakes in $35 Mln From Lusaka Auction
Lusaka: Gemfields said it earned about $35 million in revenue from its latest auction of predominantly higher quality rough emerald from the Kagem emerald mine, which was held in Lusaka, Zambia. The auction, which started on 13 November ended last Monday. It said in a statement that this was the second highest revenue achieved at any higher quality auction. The
Namdeb to Extend Diamond Mining to 2050
Gaborone: Namdeb Diamond Corporation, a joint venture between Namibia and De Beers has re-affirmed its plans to mine gems in the southern African country until at least 2050 by deploying new technology. Bloomberg quoted Namdeb spokesperson Pauline Thomas as saying that it takes “continuous innovation” and “investing in new technology to mine mid-water areas”. Namdeb recently opened the Sendelingsdrif mine
Platinum Delivers Steady Q1 Performance in India
Mumbai: The latest industry review from Platinum Jewellery Business Review (PJBR) Q1 2023indicates improved sentiment and positive consumption momentum among affluent jewellery buyers in platinum’s key markets and a continued recovery from the effects of the COVID-19 pandemic. Platinum Guild International (PGI) has implemented strategic marketing initiatives and programmes specially designed for each country to take advantage of improved sentiment to boost
CIBJO and IGDA Sign an Agreement
Birmingham: The World Jewellery Confederation (CIBJO) and the International Grown Diamond Association (IGDA) have agreed to work together in protecting the confidence of consumers in both jewellery products and the jewellery industry, through the transparent development of standards, operating principles and terminology. The agreement was formalised on June 25, 2023, as a Memorandum of Understanding (MOU), signed by Gaetano Cavalieri,
Modi Gifts LGD to Jill Biden
Mumbai: India Prime Minister Mr. Narendra Modi’s gift of a lab-grown 7.5-carat “green” diamond to the US President Joe Biden and First Lady Dr. Jill Biden during his state visit to the US serves as an endorsement of India’s prowess and leadership in the lab-grown diamond sector. By selecting an Indian lab-grown diamond for such a prestigious occasion, PM Modi
India Takes Steps to Revive Jewellery Exports
Mumbbai: The Gem & Jewellery Export Promotion Council (GJEPC) has been actively addressing the concerning decline in India’s gem and jewellery exports, which witnessed a significant drop of 36% in April and 16% in May (in dollar terms). To counter this downward trend, the GJEPC has made multiple representations to the Government of India, urging it to prioritise and support
