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
Gold Prices May Decline to Rs 24,500 by Dec
Mumbai: Gold prices are likely to decline further to around Rs 24,500 per 10 grams by December if the rupee continues to rule at the current level, according to analysts, reports zeenews. “We expect the gold prices to remain bearish and if the rupee continues to rule at current level the yellow metal may touch Rs 24,500 level by December.
First Ruby and Pink Sapphire Mine Coming Soon
Vancouver: Canadian junior True North Gems (TSX-V:TGX) is fine tuning details to start building an open-pit mine that will produce ruby and pink sapphire gemstones starting next year and running until at least 2024. The Vancouver-based miner, which began exploration about a decade ago, closed Thursday an $11 million finance package with joint-venture partner LSNG that will finally allow it
More Than 1,000 Attendees Expected For 2nd ZDC
Harare: With just days to go before the start of the Second Zimbabwe Diamond Conference, organizers of the event say 1,000 people are due to take part in the opening session, making it the largest diamond industry conference ever held in the country and one of the biggest in Africa. The focus of the November 6-7 conference, organized by Zimbabwe’s
India May Re-impose Gold Curbs
New Delhi: The government would look at reimposing curbs on gold imports after Diwali as there has been a five-fold jump in inward shipments of the precious metal, which has pushed the trade deficit to an 18-month high, reports Business Today. “Let the festival season be over. I will have a look at it. I don’t want to spoil the
CIBJO Publishes Diamond Commission Report
Milan: With fewer than seven weeks to go to the opening of the 2023 CIBJO Congress in Jaipur, India, on October 3, 2023, the fourth of the pre-congress Special Reports has been released. Prepared by the CIBJO Diamond Commission, headed by Udi Sheintal, the report looks at how changes in industry standards and nomenclature are affected by developing geopolitical situations,
Zimbabwe Stockpiles 300,000 Cts. of Diamonds
Harare: The Reserve Bank of Zimbabwe (RBZ) has stockpiled 300,000 carats of diamonds under new regulations which compel miners to pay half of their royalties using commodities, the state-run Sunday Mail reported. Central bank governor John Mangudya also told the Harare-based newspaper that gold reserves stood at around 350 kilograms, or around $20 million in US dollars. The value of
Lucara Finds 4th +1,000-ct Diamond at Karowe
Toronto: Lucara recently announced the recovery of a 1,080.1 carat diamond. It’s the fourth +1,000-ct stone from Karowe, in Botswana, since the mine opened in 2012. The Type IIa top white gem quality diamond measures 82.2m x 42.8m x 34.2mm and was recovered from direct milling of ore sourced from the mine’s South Lobe. In November 2015, a 1,109-carat stone
Rio to Build Largest Solar Plant in Canada’s North
Perth: Rio Tinto’s Diavik Diamond Mine is set to construct the largest solar power facility within Canada’s territories, featuring a vast array of over 6,600 solar panels. This innovative project will generate around 4,200 megawatt-hours of carbon-free electricity each year, catering to the mine’s energy needs. During the mine’s closure work, extending until 2029, the solar power plant will contribute
