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 Collapsing Hike Odds, Rising Yields Kept Indian Gold, Silver Below Their Floors
Snap Shot: Most of the damage in the week ending 2 October landed before the good news arrived, and the good news then failed to repair it. August core PCE inflation, released on 30 September, rose 3.0% from a year earlier against expectations of 3.3%, helped partly by methodology changes at the Bureau of Economic Analysis. September payrolls on 2 October then added just 29,000 jobs against forecasts near 90,000, with unemployment at 4.2% and August revised down to 133,000
Despite Collapsing Hike Odds, Rising Yields Kept Indian Gold, Silver Below Their Floors
Snap Shot: Most of the damage in the week ending 2 October landed before the good news arrived, and the good news then failed to repair it. August core PCE inflation, released on 30 September, rose 3.0% from a year earlier against expectations of 3.3%, helped partly by methodology changes at the Bureau of Economic Analysis. September payrolls on 2 October then added just 29,000 jobs against forecasts near 90,000, with unemployment at 4.2% and August revised down to 133,000
Top News
World’s Largest Faceted Sapphire Up For Sale
Atlanta: Ophir Collection, LLC has announced that the Ophir Collection of rare gemstones is available for sale. The collection has been awarded nine GUINNESS WORLD RECORDS titles. Included within the collection is the world’s largest faceted Sapphire, the Ophir Sapphire. Weighing 31,308 carats, roughly the size of a dinner plate, the extraordinary blue gemstone is recognized by Guinness World Records
Two Miners Leave World Gold Council
London: Two longtime members of the World Gold Council have resigned from the organization, reportedly for financial reasons. The decisions of AngloGold Ashanti and Gold Fields to leave were cost based, according to a report in Bloomberg. In a statement, the organization said it “regrets the departures.” “As long-standing members, AngloGold Ashanti and Gold Fields have played a leading role
China’s Gold Demand to Continue For 20 Years
Beijing: China’s strong appetite for gold is expected to continue for the next 20 years, driven by the country’s increasing per capita income and the global shift of gold consumption from the West to the East, the China Gold Association said. In 2013, China’s gold consumption reached 1,176.4 tonnes, making it the world’s biggest gold consumer. Its consumption in 2014
British MPs Urge to Probe Gold Price-Rigging
London: British Members of Parliament (MPs) have called on the UK’s financial watchdog to investigate allegations of price-rigging in the London gold market after a senior regulatory executive said that there may have been co-ordinated attempts to manipulate a crucial benchmark, Financial Times reports. Members of the influential parliamentary Treasury select committee pressed the Financial Conduct Authority to act after
De Beers Announces Auction Sales Programme
Gaborone: The De Beers Group of Companies yesterday announced the 2015 Forward Contract Sales (FCS) programme for its Auction Sales business. As a result of customer feedback, the new programme includes a number of changes from the programme first launched in 2014. In response to customer demand for greater availability of Forward Contracts in the first half of the year
Huw Daniel Appointed CEO of PGI
Mumbai: Huw Daniel has been appointed Global CEO of PGI, after 12 years as President of PGI USA. The announcement was made by the Platinum Jewellery Development Association (PJDA), which represents the major platinum producers (Anglo Platinum, Impala Platinum and Lonmin) and sponsor the PGI. Daniel succeeds long serving CEO James Courage who will retire at the end of April.
India’s Exports Steady in December 2014
Mumbai: Exports of cut and polished diamonds as well as gold jewellery remained steady during the month of December 2014, registering a decline of 0.03% and a rise of 0.55% as compared to the same month a year earlier, according to figures compiled by GJEPC. Overall, the gross exports of all gem and jewellery items too showed a negligible 1.65%
Investment Will Be Key to Success: Philippe Mellier
Gaborone: Addressing a Sightholder reception yesterday, during the first De Beers Sight of 2015, Philippe Mellier, Chief Executive, De Beers Group, said that maintaining success in the diamond industry is dependent upon investment to sustain supply, finance and demand. Mr Mellier pointed to De Beers’ investment in mining projects in Botswana, South Africa and Canada to deliver sustainability of supply,
