We Wish to Build Globally Relevant SKY Gold: Akash Talesara
Israel’s Diamond Industry Under Severe Pressure
Did Natural Diamond Ind. Misjudge LGD Threat?
Why Did Gold & Silver Break Down Just as Fed Hike Bets Faded
Macro Snapshot: The rate backdrop eased during the week ending 23 October, which makes the metals’ slide harder to explain. CME FedWatch odds of a hike at the 27 to 28 October FOMC meeting had settled near one in three on 14 October, after the 3.7% September CPI print, and stood at 9.4% by 23 October. December hike odds slipped from about 90% to close to 80%. The 10-year Treasury yield closed at 5.00% against 5.09% a week earlier, and
Why Did Gold & Silver Break Down Just as Fed Hike Bets Faded
Macro Snapshot: The rate backdrop eased during the week ending 23 October, which makes the metals’ slide harder to explain. CME FedWatch odds of a hike at the 27 to 28 October FOMC meeting had settled near one in three on 14 October, after the 3.7% September CPI print, and stood at 9.4% by 23 October. December hike odds slipped from about 90% to close to 80%. The 10-year Treasury yield closed at 5.00% against 5.09% a week earlier, and
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Rare Pink Diamond Ring Snatched
Perth: On Sept. 27, a rare pink diamond ring worth $577,000 was stolen during a viewing day at an auction house, according to a statement from police in New South Wales, Australia. Local news reports say the pink and white diamond ring, which held a rare pink gem excavated from Australia’s Argyle mine, was snatched from a counter during a
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
UK Court Orders Nirav Modi's Extradition to India
London: The High Court in London on Wednesday rejected the appeal of fugitive diamond merchant Nirav Modi and ordered his extradition to India to face charges of fraud and money laundering, amounting to an estimated USD 2 billion in the Punjab National Bank (PNB) loan scam case. The verdict was delivered by Lord Justice Jeremy Stuart-Smith and Justice Robert Jay,
GJSCI Launches First Digital Course
Mumbai: The Gem and Jewellery Skill Council of India (GJSCI) has launched its first ever digital course based on the highly sought-after job role of “Jewellery Retail Sales Associate”. Digitalisation of courses has become the need of the hour as every sector is pivoting to digital solutions, GJSCI said. The course will be conducted in Hindi language. It is designed
WDC Proposal Helps Break Impasse in KP
Gaborone: The 2022 Kimberley Process Meeting ended successfully in the early hours of November 5, after a compromise proposal offered by the World Diamond Council managed to break an impasse that could have prevented the gathering dispersing without issuing a Final Communiqué. For several hours during the final session, when the Communiqué had to be ratified by consensus, the delegates
UAE to Chair Kimberley Process in 2024
Dubai: DMCC has announced that the UAE will be appointed Chair of the Kimberley Process in 2024, assuming the role as Vice-Chair in 2023. The decision follows the deliberations at the Kimberley Process Plenary meeting in Gaborone, Botswana that concluded on 5 November, 2022, says a press release from DMCC. The Kimberley Process (KP) is an international group tasked with
