We Wish to Build Globally Relevant SKY Gold: Akash Talesara
Israel’s Diamond Industry Under Severe Pressure
Did Natural Diamond Ind. Misjudge LGD Threat?
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
Top News
New ALROSA Head Will Be Appointed Soon
Moscow: President of ALROSA will be appointed within a month, said Yury Trutnev, Deputy Prime Minister of Russia. “The decision concerning new head of ALROSA will be taken within a month,” RIA Novosti quotes him as saying. Earlier in October Trutnev said that the list of candidates for ALROSA’s presidentship was prepared and should be brought in the Government. In
Groups including GJEPC Boycott WDC Meeting
Antwerp: Eight prominent industry groups are boycotting the upcoming World Diamond Council in Antwerp, out of concern that the group is widening its mandate beyond conflict diamonds. The groups, led by the World Federation of Diamond Bourses (WFDB), expressed particular concern about a survey done by the group, conducted by Belgian consulting firm Gemdax. They characterized the survey, which will
Exceptional Results for Argyle Pink Diamonds Tender
Perth: Rio Tinto’s 30th anniversary collection of 54 rare pink and red diamonds from its Argyle diamond mine has delivered exceptional results, achieving the highest average price per carat since the Tender began in 1984. With a record number of more than 600 bids, the collection was internationally popular with successful bids for the rare diamonds submitted from ten countries.
Patricia Syvrud is ED of World Diamond Council
New York: The World Diamond Council (WDC) has named Patricia Syvrud, founder and president of Joia Consulting, LLC, as its first Executive Director, effective October 31, 2014. Syvrud will report to the Executive Committee of the WDC Board of Directors and will assist the President of the WDC. She will be responsible for representing the WDC in the Kimberley Process,
DDE’s Peter Meeus Hits Back at PAC Claims
Dubai: Dubai Diamond Exchange Chairman Peter Meeus replied to what he called “serious allegations” made by Partnership Africa Canada about Dubai at the Kimberley Process (KP) Intersessional meeting taking place in Shanghai. “First of all we were surprised to see that Mr. Martin quoted an FAFT (Financial Action Task Force) report on ML/TF (Money Laundering/Terrorism Financing) of 150 pages in
Israel Exchange to Create Code of Ethics
Ramat Gan: In what appears to be a ground-breaking move for a diamond bourse, the Israel Diamond Exchange (IDE) has begun moves to create a code of ethics by which its members would be expected to operate. At a meeting at the bourse, IDE President Shmuel Schnitzer and management members discussed the creation of such a code with Israeli experts
China’s Jewellery Sales Accounted for 41%
Beijing: Mainland China is a major jewellery consumer in the world. According to the recently released China Jewellery Industry Report, 2013-2016, last year jewellery sales in Chinese Mainland approximated $75.8 billion, which is equivalent to 41.2 % of the global consumption. In Mainland China, the gold jewelry consumption accounts for about 50% of the total jewellery consumption. In 2013, two
Gold Smuggling in India May Fall to 50 Tonnes
Mumbai: Going by the seizures of gold which has increased four times in 2013-14, intelligence agencies have estimated gold smuggled in the country around 50 tonnes in 2013-14 which is way lower from the estimated by the World Gold Council (WGC), reports The Business Standard. WGC had estimated nearly 200 tonnes of gold entered India unofficially. Trade circles have been
