We Wish to Build Globally Relevant SKY Gold: Akash Talesara
Israel’s Diamond Industry Under Severe Pressure
Did Natural Diamond Ind. Misjudge LGD Threat?
Despite Collapsing Hike Odds, Rising Yields Kept Indian Gold, Silver Below Their Floors
Snap Shot: Most of the damage in the week ending 2 October landed before the good news arrived, and the good news then failed to repair it. August core PCE inflation, released on 30 September, rose 3.0% from a year earlier against expectations of 3.3%, helped partly by methodology changes at the Bureau of Economic Analysis. September payrolls on 2 October then added just 29,000 jobs against forecasts near 90,000, with unemployment at 4.2% and August revised down to 133,000
Despite Collapsing Hike Odds, Rising Yields Kept Indian Gold, Silver Below Their Floors
Snap Shot: Most of the damage in the week ending 2 October landed before the good news arrived, and the good news then failed to repair it. August core PCE inflation, released on 30 September, rose 3.0% from a year earlier against expectations of 3.3%, helped partly by methodology changes at the Bureau of Economic Analysis. September payrolls on 2 October then added just 29,000 jobs against forecasts near 90,000, with unemployment at 4.2% and August revised down to 133,000
Top News
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
Gemfields to Explore Gemstones in Sri Lanka
Colombo: Colored gemstone miner, Gemfields Plc formed a joint venture East West Gem Investments Ltd. (EWGI) to explore sapphire and gemstones in Sri Lanka. Under the agreement, the joint venture will operate through three Sri Lankan subsidiaries. Gemfields will hold a 75 percent stake in the project with EWGI holding the remaining 25 percent stake. Gemfields said it acquired a
First Texas-Israel Diamond Show Sparks Great Interest
Ramat Gan: The first Texas-Israel Diamond Show, taking place later this month in San Antonio, promises to be an exciting event for both sides. The show, sponsored by the Texas Jewelers Association (TJA) and the Israel Diamond Institute (IDI), is an unprecedented opportunity for Israeli diamond exporters and Texas jewelers to meet face to face and to do business. The
Rio Tinto Q2 Production Increases to 4.7 Mln Carats
Perth: Rio Tinto announced that production increased to 4.696 million carats in the second quarter, compared to 3.832 million carats in the same quarter of 2014. Rough diamond production in the first half of the year totaled 8.851 million carats, up from 7.482 million carats in 2014. The company said that production at the Argyle mine in Australia was 37-percent
33% of De Beers’ Goods Rejected
Gaborone: De Beers’ customers declined to buy about a third of the diamonds offered for sale this week by the world’s biggest producer, according to two people familiar with the process, reports Bloomberg. The buyers, or sightholders, exercised the right granted by De Beers this month to defer purchasing about 25 percent of the stones on offer and rejected about
Rockwell Q1 Revenue Drops 39%
Vancouver: Rockwell Diamonds Inc.’s first revenue dropped a substantial 39 percent to C$9.2 million ($7.2 million) for the first quarter, ended May 31. Rough diamond sales dropped 14 percent to C$8.3 million ($6.5 million), down from C$9.7 million ($7.6 million) in the first quarter of the fiscal 2015 year. Beneficiation revenue fell 83 percent to just C$900,000 ($705,000). The company
India Rough Imports Expected to Decline 10-15%
Mumbai: A confluence of negative factors in the Indian diamond industry has led to a massive decline in imports of rough diamonds into the country, which is expected to continue to decline, according to The Times of India. The Gem & Jewellery Export Promotion Council (GJEPC) data show a 24 percent decline in value terms, 13 percent in volume terms,
