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
De Beers July Sight Estimated at $775M
Gaborone: The De Beers July sight closed with an estimated value of $775 million. De Beers reportedly raised prices slightly on most goods by 1 percent to 2 percent with sharper hikes in the prices of smaller and lower-quality diamonds. Sightholders noted that De Beers also changed the assortment in its presentation, which partially offset the higher prices of its
RBI Relaxes Ceiling on Loans against Gold
Mumbai: The Reserve Bank of India has relaxed the Rs 1-lakh ceiling on loans for nonagricultural purposes against pledged gold and has left it to individual banks to decide on a lending cap. “Banks, as per their board-approved policy, may decide upon the ceiling with regard to the quantum of loans that may be granted against the pledge of gold
De Beers Announces Model for Rough Allocations
Gaborone: The De Beers Group of Companies yesterday announced its updated model for the allocation of rough diamonds by Global Sightholder Sales (GSS) in respect of the March 2015–March 2018 contractual period. Around 90% of De Beers’ total rough diamond availability by value is sold through GSS. The updated allocations model will involve a new method for determining GSS’s rough
Global Diamond Production +11% to $14B in 2013
Gaborone: Global diamond production by value rose 11 percent year on year to $14.09 billion in 2013, due mainly to an increase in the average price of rough diamonds, according to annual data published by the Kimberley Process Certification Scheme. By volume, global production increased 2 percent to 130.48 million carats, while the average price of production grew 9 percent
Indian Companies Shine at 2014 JNA Awards
Hong Kong, 12th Sep: The 2014 JNA Awards has recognized a number of India-based companies for their contribution to the global jewellery and gemstone industry. JNA has named Anoop Mehta, president of the Bharat Diamond Bourse (BDB), as recipient of the Lifetime Achievement Award – the most prestigious honour conferred by JNA – while five of India’s major diamond manufacturers
Multibank is First Fin. Inst. to Secure Office in PGJC
Panama: Panama’s Multibank has become the first financial institution to secure office space in the Phase I building of the Panama Gem & Jewelry Center (PGJC). Providing a range of banking products and services, the Panama City-headquartered bank also has operations in Costa Rica and Colombia, a representative office in Peru, and is the main company in the Multi Financial
NCDIA Elects New President, Board
New York: The Natural Color Diamond Association (NCDIA) has elected new officers and a new board. Jordan Fine, JFine, will serve as group president; Alan Bronstein, Aurora Gems, will serve as vice president; Breanne Wittrock, Gunderson’s, will also serve as vice president; and Jeffrey Post, Gem Platinum, will serve as secretary/treasurer. Also on the board are David Shara, Optimum Diamonds;
Angola to Focus on CAR Challenges as KP Chair
Luanda: Angola, which is set to lead the Kimberly Process Certification Scheme (KPCS) next year, says that it will focus on following up on the situation in Central Africa Republic (CAR) and Venezuela. CAR was temporarily suspended from the KP in May 2013 after a coalition of rebels threw President Francois Bozize out of office. The World Diamond Council (WDC)
