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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
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GIA Drops Fees on Synthetics Screening
New York: Gemological Institute of America (GIA) has dropped fees on its screening services for smaller diamonds to check if they are treated or synthetic. The service screens parcels of D-to-Z diamonds and colored diamonds up to 0.2 ct. The new fee structure reduces the existing per-stone fee from $12 to $10 for diamonds between 0.06 and 0.2 ct. and
About 200 Tonne Gold may Enter India Illegally
New Delhi: The World Gold Council (WGC) speculates that out of India’s total gold import demand in 2014, almost 20 per cent would be served through the grey market. “The total demand in 2014 is estimated to be between 850-950 tonnes, out of which upwards of 200 tonnes is likely to be served by the grey market,” said Somasundaram PR,
ALROSA Mulls Partnering with Jewelers
Moscow: ALROSA is considering the option of attracting renowned jewelry producers as strategic partners for its cutting and polishing facilities, the company reported. The announcement followed an executive committee meeting which looked at prospects for the development of its cutting and polishing business. The company did not specify which strategic partners in the diamond sector it was considering. However, ALROSA’s
Antwerp to Mark 30 Years of Ties with Shanghai
Antwerp: Antwerp’s two major export industries, diamonds and designer wear, are joining forces to celebrate the 30th anniversary of the ties between the city and Shanghai. The Antwerp World Diamond Centre (AWDC) and BVBA 32, the financial force behind fashion designers Ann Demeulemeester, Haider Ackermann and Jean-Paul Lespagnard, will be organizing an exclusive diamond evening with a fashion show in
India May not fully Withdraw Gold Curbs
New Delhi: Despite a significant reduction in the current account deficit, curbs on gold imports are unlikely to be fully removed this Budget. Instead, the finance ministry may lower the import duty on the precious metal by two per cent, reports The Indian Express. “The current account deficit situation is still being closely monitored. The curb on gold imports was
Gujarat Govt. Assures Help for Diamond Bourse
Surat: As the prices of realty in Vesu and Dumas areas have skyrocketed following the announcement of proposed diamond bourse, diamantaires spearheading the movement for a world-class diamond bourse in the city have started lobbying with the state government for land, reports The Times of India. Members of Surat Diamond Bourse (SDB) committee, which includes chairman of leading diamond companies
Antwerp Seizes Parcel of Banned CAR Diamonds
Antwerp: The Antwerp diamond industry, represented by the Antwerp World Diamond Centre (AWDC), is stepping up its efforts in combatting conflict diamonds. The city, largely owing its reputation as the most transparent and strictly controlled diamond trade centre to the rigorous controls of all diamond imports and exports at the Antwerp Diamond Office, is determined to continue its strong commitment
GJF to Get Council Status Soon
Mumbai: The All India Gems and Jewellery Trade Federation (GJF) expects to receive the status of council within the next two to three months, reports Business Standard. The federation said it would be easy to represent issues faced by gems and jewellery industry before government after receiving the status of the council. “We have already asked the concerned ministry in
