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
ALROSA again Chaired by Ilya Yuzhanov
Moscow: The Supervisory Board of ALROSA is once again chaired by Ilya Yuzhanov, according to the information received from the company on Friday. Yury Trutnev, Deputy Prime Minister of the Russian Government and Presidential Plenipotentiary Envoy to the Far Eastern Federal District, signed the directive prescribing the state representatives sitting on the Board to vote for Ilya Yuzhanov. The representatives
De Beers August Sight Estimated at $715M
Gaborone: The De Beers August sight closed last week with an estimated value of $715 million as the company maintained steady prices despite liquidity concerns in the diamond manufacturing sector. Rough trading slowed on the secondary market and premiums on De Beers boxes declined, with boxes selling at average low single-digit percentages during and after the sight. “The market is
Debswana Prolongs Lifespan of Mines To 2050
Gaborone: Debswana, a joint venture between De Beers and the Botswana government, has extended the lifespan of its mines in the southern African country to 2050. Company managing director Balisi Bonyongo was quoted by APA as saying that the extension would solidify Botswana’s position as the world’s leading diamond producer by value. He also said that Debswana would continue to
Artisan Awards Receives 800 Artworks
Mumbai: An afternoon filled with awe and excitement, the Gem and Jewellery Export Promotion Council of India (GJEPC), hosted the first round of screening for the Artisan Awards 2014. The eminent jury panel selected a total of 40 sketches from 800 entries, narrowing down the best in design, ingeniously bringing alive the movie eras through jewellery. Sanjiv Banerjee, Mamta Rajaram,
65% Goods Unsold in De Beers July sight
Gaborone: De Beers July sight is said to have raked in about $200 million amid the rejection of some goods by sightholders. Rapaport reports that the amount of goods left on the table had exceeded about 65 percent of the initial sight value. The size of the sight was also said to be the “lowest” for De Beers since the
ALROSA's 1H Rough Diamond Sales Drop 22%
Moscow: ALROSA sold 18 million carats of rough diamonds for $2.1 billion in the first half of 2015, representing a significant decline from a year earlier. The mining company sold 21.1 million carats for $2.7 billion in the first six months of 2014. ALROSA noted a continued slowdown in the diamond market during the second quarter of this year. The
De Beers & Namibia Reach Sales Agreement
Gaborone: The Government of the Republic of Namibia and De Beers announced agreement yesterday, in principle, on the terms of a new 10-year sales agreement for the sorting, valuing and sales of all of Namdeb Holdings’ diamonds (production from Namdeb and Debmarine Namibia). The agreement will be the longest sales contract ever agreed between the two partners. Namibia Diamond Trading
Sharp Fall in Precious Metal Prices
Shanghai: Gold, silver, and platinum were all trading at multiyear lows on July 20, with platinum going below the $1,000 benchmark and the price of gold trading at around $1,100. On the Shanghai Exchange yesterday, gold temporarily crossed the $1,100 benchmark to hit $1,088 an ounce, its lowest level since February 2010. At press time, the yellow metal’s spot price
