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
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Zimbabwe’s VP Lashes out at India’s Surat
Harare: Zimbabwe’s often reserved vice president Joyce Mujuru has sparked a potential diplomatic spat following her weekend tongue-in-cheek comment over India’s Surat. Surat, a city in the Indian state of Gujarat, was considered the world’s biggest diamond cutting and polishing centre. She was quoted in the local press as having said that India had “built a whole town” from smuggled
Winners Take Home Trophies at 2014 JNA Awards
Hong Kong: Anoop Mehta of the Bharat Diamond Bourse (BDB) and Ahmed Bin Sulayem of the Dubai Multi Commodities Centre (DMCC) – exceptional and inspiring leaders who are making an incredible impact in the gemstone and jewellery industry – led this year’s crop of 20 JNA Awards recipients. The awardees were feted in a spectacular ceremony and gala dinner that
Now Polygon Bans EGL Reports From Network
New York: The Polygon trading network will no longer list diamonds with European Gemological Laboratory (EGL) International reports on its service—although another platform, IDEX, says EGL reports remain welcome. The announcements come in the wake of trading network RapNet’s decision to ban all EGL reports. “We have been closely following the current discussions regarding EGL International, both on and off
De Beers Held Talks with Dubai Diamond Exchange
Dubai: A delegation of senior executives from De Beers visited the Dubai Diamond Exchange (DDE) on September 14, with the sides discussing future collaboration, the increasing role that the producing nations play along the New Silk Route and the opportunities this shift is bringing. DDE Chairman Peter Meeus hosted the delegation along DMCC Chief Executive Officer Gautam Sashittal. The De
Big Layoffs in Botswana Cutting Industry
Gaborone: The massive retrenchments in the domestic diamond cutting and polishing industry continues unabated as companies reel from the effects of high rough prices and lack of liquidity, reports BusinessWeek. Local cutting and polishing company Diacore has retrenched 50 employees taking the total number of affected workers in the industry to around 1,000 in the past year. At its peak,
Platinum Presents Our Everlasting Love
Mumbai: Platinum Guild International gives couples a unique opportunity to capture their journey of everlasting love through a personalized video. Love is at the heart of every platinum jewellery; as it symbolizes everlasting love. PGI along with Maxus India has created an exclusive microsite – www.oureverlastinglove.in – wherein couples can create montage of special moments they share which makes their
Indian Hallmarking Centres Question WGC’s Data
New Delhi: Gold jewellery hallmarking centres in India have questioned the authenticity of World Gold Council (WGC)’s data on hallmarked jewellery in India, according to various media reports. Releasing a study, “Developing Indian Hallmarking – A roadmap for future growth”, on July 30, the WGC had said, “Since the introduction of hallmarking standard in 2000 by the Bureau of Indian
Zimbabwe Sets Up Diamond Cleaning Facility
Harare: According to Mines and Mining Development Minister Walter Chidhakwa, prices of local diamonds could increase 10-20% per carat as a result of a new system that requires them to be cleaned before auction, and the government has set up the Zimbabwe Boiling Facility to do just that. Not only will the new system improve the value of local diamonds,
