We Wish to Build Globally Relevant SKY Gold: Akash Talesara
Israel’s Diamond Industry Under Severe Pressure
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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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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
Myanmar's Gems Emporium Heavily Attended
Naypyidaw: Hundreds of merchants from China to Malaysia flocked to Naypyidaw, Myanmar on Friday to inspect an annual auction of jade and other precious stones, according to AFP. The 13-day emporium is expected to draw around 5,000 local and foreign visitors who will bid for the raw jade, gems, jewelry and sculptures up for sale. “We invited (merchants from) Hong
E.G.L. Platinum Emphasizes New Grading Standards
Ramat Gan: At a meeting inside the Ramat Gan bourse recently, members of the Israeli industry met to hear about plans for the E.G.L. Platinum chain of grading labs. E.G.L Platinum president Menahem Sevdermish FGA, highlighted the work that the lab is doing to ensure that the chain offers accurate and uniform grading standards across its branches worldwide. One of
India Not to Put Embargo on Rough Import
Mumbai: Prominent diamond Industry associations of India, viz. Gem & Jewellery Export Promotion Council (GJEPC), Bharat Diamond Bourse (BDB) and Mumbai Diamond Merchants’ Association (MDMA) organized a meeting with top 250 diamond exporters on 7th July 2015 to discuss the current market scenario and issues faced by the diamond industry and derive a way forward. The meeting was held at
Anonymous Sightholder Calls for Mass Rejections
Gaborone: In a mass email, an anonymous sightholder called on fellow De Beers clients to reject any unprofitable assortments, reports JCKonline. Do “not to take any box which doesn’t have the value of at least 10% gross profit after polishing,” beseeches the missive, which came from a “simple sightholder” and has been reprinted online. “Please, if your future, the future
