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 Did Gold & Silver Break Down Just as Fed Hike Bets Faded
Macro Snapshot: The rate backdrop eased during the week ending 23 October, which makes the metals’ slide harder to explain. CME FedWatch odds of a hike at the 27 to 28 October FOMC meeting had settled near one in three on 14 October, after the 3.7% September CPI print, and stood at 9.4% by 23 October. December hike odds slipped from about 90% to close to 80%. The 10-year Treasury yield closed at 5.00% against 5.09% a week earlier, and
Why Did Gold & Silver Break Down Just as Fed Hike Bets Faded
Macro Snapshot: The rate backdrop eased during the week ending 23 October, which makes the metals’ slide harder to explain. CME FedWatch odds of a hike at the 27 to 28 October FOMC meeting had settled near one in three on 14 October, after the 3.7% September CPI print, and stood at 9.4% by 23 October. December hike odds slipped from about 90% to close to 80%. The 10-year Treasury yield closed at 5.00% against 5.09% a week earlier, and
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De Beers Revenue +15% to $4B
Gaborone: Anglo American’s group underlying earnings rose 3 percent to $1.284 billion for the first half that ended on June 30 and De Beers contribution of $469 million reflected an increase of 59 percent. The second greatest contribution to Anglo’s profit, of $443 million, came from the iron ore and manganese unit. Anglo’s profit attributable to shareholders jumped 263 percent
India’s Rough Imports Inceased by 16.19%
Mumbai: India’s cut & polished diamond exports for month of June 2014 has registered $1,469 million (2,695,000 carats), showing a decrease of 0.66 percent against $1,478.81 million (2,806,000 carats) during June 2013, according to the provisional figures announced by the Gem & Jewellery Export Promotion Council (GJEPC) of India. For the period of April 2014 to June 2014 too, cut
3 Carat Synthetic Largest-Ever Grown Gem
New York: Pure Grown, the man-made diamond company formerly known as Gemesis, is selling a 3 ct. K SI stone—which it calls the largest colorless diamond ever produced by nonnatural means, reports jckonline. Lisa Bissell, the Fabrikant veteran recently appointed president and CEO of the company, says that she has every intention of selling the gem, which has a report
Zimbabwe Imposes Embargo on Rough Export
Harare: The Zimbabwean government has reportedly banned the export of rough diamonds to ensure the country realises maximum value for its gems. NewsDay quoted Mines and Mining Development minister Walter Chidhakwa as saying that the issue was extensively discussed and Cabinet agreed and directed that “we implement the new institutional programme”. He said Harare had recognized that it was “not
DiamondCorp Sells Lace Mine Kimberlite Diamonds
Johannesburg: South African diamond mining, development and exploration company Diamond Corp has announced the sale of 8.648 carats of Lace Mine diamonds through direct sales and competitive tender. This marks the first sale of Lace Mine diamonds since 1931. The company said that 6,247 carats of the diamonds were greater than 1.25mm in diameter and were recovered as a result
India Close to 8% GDP Growth
New Delhi: Banking reforms and job creation are the two biggest current challenges, said Arvind Panagariya, vice-chairman of the NITI Aayog. The country is close to achieving eight per cent annual growth in gross domestic product (GDP), on the back of good infrastructure development, he added. “The advance estimate for 2015-16 pegs GDP growth at 7.6 per cent and the
IDE Calls for Additional Financing for Industry
Ramat Gan: Israel Diamond Exchange (IDE) President Yoram Dvash has called for an increase in credit lines to finance the diamond industry worldwide. Referring to a Bloomberg Business report that London-based Standard Chartered Bank was demanding additional loan protection from diamond clients, Dvash said that the world diamond industry needs to work together to secure additional financing. Standard Chartered has
Gemfields Emerald Auction Realizes $33 Million
Lusaka: Emerald and ruby miner Gemfields has announced that its recent emerald auction held in Lusaka, Zambia, realized $33.1 million. Of the 558,000 carats of Kagem Mining Ltd emeralds up for sale, 496,000 or 84 percent were sold. This most recent auction now holds the record for the highest average price, $70.68 per carat, for higher quality auctions. Gemfields’ 21
