We Wish to Build Globally Relevant SKY Gold: Akash Talesara
Israel’s Diamond Industry Under Severe Pressure
Did Natural Diamond Ind. Misjudge LGD Threat?
Why Is a Widening Gulf War Lifting Oil but Sinking Gold and Silver?
Macro Snapshot: The week ending 30 October brought the kind of news that once sent buyers into gold. Reuters reported the first known successful limpet-mine strike on a tanker in the Strait of Hormuz since the war began in February, and Houthi forces claimed strikes on Saudi refineries. Washington ordered non-emergency government staff out of Saudi Arabia amid reports that US strikes on Iran could resume after the 3 November midterm elections. Brent rose 13.6% over October, with the expiring
Why Is a Widening Gulf War Lifting Oil but Sinking Gold and Silver?
Macro Snapshot: The week ending 30 October brought the kind of news that once sent buyers into gold. Reuters reported the first known successful limpet-mine strike on a tanker in the Strait of Hormuz since the war began in February, and Houthi forces claimed strikes on Saudi refineries. Washington ordered non-emergency government staff out of Saudi Arabia amid reports that US strikes on Iran could resume after the 3 November midterm elections. Brent rose 13.6% over October, with the expiring
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Mbada Diamonds Cuts Salaries, 4 Executives Resign
Harare: Workers at Zimbabwe’s leading diamond producer, Mbada Diamonds, staged a sit-in last week after its management slashed their salaries by 50 percent, claiming there had been a massive decline in production. The decision to reduce salaries also resulted in four senior managers tendering their resignations in protest. Workers told New Zimbabwe that they were also not happy with management’s
Tanzanite Foundation Shutting Down
New York: The New York City–based Tanzanite Foundation will cease operations on Aug. 31. Tanzanite Foundation executive director Hayley Henning confirmed to JCK this week that the 11-year-old promotional agency for tanzanite will close at the end of August. Formed by miner TanzaniteOne, the nonprofit foundation has served all ethical and socially responsible operators and partners in the tanzanite industry,
New York Orders Comprehensive Ivory Ban
New York: New York’s Governor Andrew Cuomo signed legislation yesterday that amends the state’s environmental law to ban elephant ivory, mammoth ivory and rhino horn sales in New York. This state legislation enhances federal efforts to tighten the ivory trade ban on a federal level. Under the law, this permanent ban on the sales of these products has only a
Gemfields Reports Auction Revenues of $15.5 Million
Lusaka: Gemfields plc reported auction revenues of $15.5 million, the second highest achieved at any lower quality auction, of its auction of mostly lower quality rough emerald and beryl held in Lusaka, Zambia, from August 5 to 8. Excluding the sale of 1.5 tonnes of low grade beryl, the average realized price was $3.61 per carat, a new record for
Indian Jewellers Call off Strike
Mumbai: After keeping shutters down for 43 days against the proposed one per cent excise duty on non-silver jewellery, bullion traders and jewellers opened their shops on Tuesday. In the past six weeks, the striking jewellers not only lost on new business but also faced a tough time retaining artisans and paying rent for their establishments. To their disappointment, the
De Beers Provisional April Sales $660m
Gaborone: The De Beers Group has officially announced the value of rough diamond sales (Global Sightholder Sales and Auction Sales) for the third sales cycle (sight) of 2016 at a provisional $660 million, while the second sight figure was $617 million. The third sales cycle took place last week. In the first three months of this year De Beers has
LATAM Diamond & Jewellery Week from 20th June
Panama: Buyers and suppliers of jewelry, diamonds and colored gemstones from more than 20 countries in Latin America and around the world will gather at the World Jewelry Hub in Panama City from June 20 to June 23 for the Second Latin American Diamond and Jewelry Week. A commercial and networking event that is specifically designed to bring together players
RBS to Close Down India Operations
Mumbai: The Royal Bank of Scotland (RBS) is set to close its banking operations in India, having been frustrated in its efforts to find a buyer, according to a report in The Financial Times. The UK-based bank has for a number of years been selling non-core units of its India business, which it had to undertake after overextending itself during
