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
Top News
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
PDE President to Present Project in India
Panama: With more than 40 of the 59 available offices in the Phase 1 building of the Panama Gem & Jewelry Center already accounted for, Erez Akerman, President of the Panama Diamond Exchange (PDE), is visiting the Indian cities of Mumbai and Surat, and then New York, where he is meeting with companies interested in obtaining space in Latin America’s
Bunder’s Education Initiatives Deliver Strong Results
Bhopal: Rio Tinto’s Bunder project in the central Indian state of Madhya Pradesh announced the results of a number of educational initiatives aimed at improving opportunities for families in the 15 communities surrounding the diamond project. Through a range of coaching initiatives and adult education programs the Bunder project is working towards its goal of enhancing opportunities in the local
The 31st Edition of IIJS Ended with Success
Mumbai: The 31st Edition of India International Jewellery Show (IIJS) ended today with a success note. The show was organized from 17th to 21st July 2014 by the Gem & Jewellery Export Promotion Council (GJEPC) with over 850 plus exhibitors occupying about 1800 booths from India and Overseas. Over 35,000 genuine buyers from all over India and abroad visited the
New Emeralds from Musakashi Appear in Market
Basel: Advanced testing using Laser Ablation Inductively Coupled Plasma Mass Spectrometry (LAICPMS) on an anomalous stone from a batch of 10 emeralds submitted to the Swiss Gemmological Institute SSEF has indicated that it is likely to have been sourced at Musakashi, in the Solwezi district of central Zambia. This suggests that production at that site has been increased. The other
US Drops Proposed Duty on Indian Jewellery
Mumbai: The US has dropped plans to impose duties on certain jewelry items from India after the two countries reached an agreement over a controversial e-commerce tax. Earlier this year, the Department of the Treasury proposed tariffs of up to 25% on a range of Indian products, including selected gems and jewelry. This was in response to India’s digital services
Alrosa to Debut New Long-Term Agreements
Moscow: Alrosa has presented its customers with a new concept of creating a list of partners eligible for signing long-term agreements and new rough diamonds allocation principles, which will be relevant for the 2022–2024 contract period. Based on the lessons learned during the 2019 and 2020 crises, this approach takes into account the business specifics of different types of rough
De Beers' 9th Cycle Generates $430 Million
Gaborone: De Beers has reported another decline in sales revenue for the ninth sales cycle this year, as cutting factory closures in India weighed on demand. For November 8 through 23, rough diamond sales totalled $430 million, which was lower than the $492 million in sales it reported for the previous cycle. Revenues were also lower year-on-year, with ninth cycle
