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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Surat to Have India's First Diamond SEZ Soon
Surat: The State of Gujarat in India is now proposing to set up a SEZ (Special Economic Zone) exclusively for diamonds in Surat, possibly the first of its kind in India. According to Gujarat’s Finance Minister Saurabh Patel, the SEZ will be set up in a month or two, as reported in Economic Times. The state government is keen that
India, China Sign MoU on Gem Trade
Jaipur: The gemstone councils of China and India recently signed a memorandum of understanding (MoU) to help facilitate seamless jewellery trade between the two countries, the Times of India reported. The MoU was inked between India’s Gems and Jewellery Export Promotion Council (GJEPC) and China Gems Centre (CGC) on the sidelines of the Jewellers Association Show in Jaipur. Panyu City Vice
International Diamond Week Postponed
Ramat Gan: The Israel Diamond Exchange announced today it is postponing the summer edition of the Israel Diamond Week, originally scheduled for September 1-4. The exchange quoted the continuing tensions in the region as the chief reason for the postponement. In a statement IDE President Shmuel Schnitzer said that “in view of the recent events in our region, the board
Limited-Edition Gold and Diamond Ingots for Sale
Toronto: Ouroboro Diamonds of Rare Color has announced the release of the “Oro,” a limited-edition gold and diamond ingot. The “Oro” is made from one troy ounce of 24-karat (99.99% or .9999) pure yellow gold. Each ingot has a round, brilliant-cut, D-color, Internally Flawless diamond of at least 0.25 carats – certified by the GIA – embedded at its center.
Israel's Leaders Call for Reduced Rough Supply
Tel Aviv: Major rough diamond producers should reduce rough sales to help bring stability to the diamond pipeline, according to industry leaders in Israel, cited by Rapaport News portal. Shmuel Schnitzer, the president of the Israel Diamond Exchange (IDE), and Jacob Korn, the president of the Israel Diamond Manufacturers Association (IsDMA) expressed their support for restoring profitability to the diamond
Alrosa’s Diamond Prices Down 6% So Far This Year
Moscow: Russia’s Alrosa, the world’s top diamond producer by output in carats, said Tuesday prices for the precious rocks its mines have fallen by 6% since the start of 2015, but expects market conditions to improve by the end of the year. According to Reuters, the company saw its rough diamond prices decrease by 3% in February and a further
De Beers June Sight of $550 Million
Gaborone: The De Beers June sight closed with an estimated value of $550 million. Diamond prices were reportedly stable at the sight, while sightholders noted a slight increase in the box price of larger goods. Some added that De Beers also improved the assortment quality on those same boxes. Sightholder sentiment remained negative at the sight as manufacturers stated that
India’s Polished Exports Down 9% in May
Mumbai: Overall exports of gems and jewellery from India during May 2015 declined by 6.9% as compared to a year ago, reflecting the myriad challenges being faced in global markets, as well as the currency fluctuations during this period. Total exports of gems and jewellery during the month of May 2015 stood at US$ 2,504.51 million as compared to US$
