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 Global Losses & Firmer Rupee, Indian Gold & Silver Held Their Floors
Macro Snapshot: The selling that pushed both metals lower in the week ending 25 September came from the American bond market rather than from any bullion-specific news. S&P Global’s flash survey on 23 September put its composite output index at 58.4, the strongest reading since July 2021, with services at 58.7 and manufacturing at 56.7. On the same morning, Federal Reserve Governor Michael Barr said further policy adjustments were likely to be needed to return inflation to target. A poorly
Despite Global Losses & Firmer Rupee, Indian Gold & Silver Held Their Floors
Macro Snapshot: The selling that pushed both metals lower in the week ending 25 September came from the American bond market rather than from any bullion-specific news. S&P Global’s flash survey on 23 September put its composite output index at 58.4, the strongest reading since July 2021, with services at 58.7 and manufacturing at 56.7. On the same morning, Federal Reserve Governor Michael Barr said further policy adjustments were likely to be needed to return inflation to target. A poorly
Top News
PDE and IBGM Sign MOU
Panama: Brazil’s leading jewelry industry association, Instituto Brasileiro de Gemas e Metais Preciosos (IBGM), will be taking up residence in the Phase 1 building of the Panama Gem & Jewelry Center when it opens later this year. The announcement follows the signing of a Memorandum of Understanding between the Panama Diamond Exchange and IBGM in Sao Paulo during the Feninjer
New Gold Discovered in China
Beijing: Geologists have discovered a massive gold mine in China’s restive Xinjiang province, according to state news agency Xinhua. The new find, close to the border with Kyrgyzstan, has proven gold reserves of 127 tonnes, Xinhua said. If the estimates are correct, the reserves could be worth around 40 billion yuan ($6.5bn). The Xinjiang Geology and Mineral Exploration Bureau spent
Zimbabwe Can’t Wait For Annual Dividends
Harare: Zimbabwe will now collect its share of diamond revenue at the point of sale rather than wait for its Marange partners to remit dividends annually. Harare could have been prejudiced of millions of dollars from previous sales, The Herald newspaper reports. The government’s mining arm, Zimbabwe Mining Development Corporation (ZMDC) holds a 50 percent stake in firms mining gems
Delhi HC Seeks Govt. Reply in Gold Import Case
New Delhi: In a major setback for the government, the Delhi High Court on Thursday ordered all major departments and ministries of trade and commerce to present files pertaining to the process of decision making which allowed a handful of private star trading houses to import gold, reports Business Standard. Hearing the case filed by Delhi Bullion and Jewellers Welfare
Next Israel Diamond Week in February 8-12, 2015
New York: The Israel Diamond Exchange (IDE) announced that it would host the winter edition of the International Diamond Week February 8-12, 2015. “We have looked hard at the very busy calendar of the international diamond and jewelry trade and decided that these were the best dates for all parties involved for the Winter 2015 edition,” IDE President Shmuel Schnitzer
Israel Diamond Week in New York Successful
New York: At the outset of the fourth day of the Israel Diamond Week in New York, both the Israeli and the American diamantaires participating in the event at the Diamond Dealers Club (DDC) in New York City were in complete agreement: the third edition of the Israel Diamond Week in New York is a great success. David Lasher, the
Pigeon Blood Ruby Sold for Record $8.6M
London: The 8.62-carat cushion-shaped ‘Graff Ruby’ ring from the Collection of Dimitri Mavrommatis soared beyond pre-sale estimates and set a world auction record for a ruby at $8,600,410, as well as a record price per carat for a ruby at $997,727. The ring was bought by London Laurence Graff at Sotheby’s Geneva sale of Magnificent & Noble Jewels. The gemstone,
Zimbabwe’s Local Auction Oversubscribed
Harare: First Element, which conducted Zimbabwe’s first local diamond tender in Harare last week, said although the stones that were placed under the hammer were few, there was a strong appetite from foreign buyers. Company managing director Johan Erikson told a diamond conference that was convened last week in Harare that about 400 buyers and 133 companies attended the auction.
