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
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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
RBI to Swap Gold to Improve Reserves Quality
Mumbai: The Reserve Bank of India (RBI) said yesterday that it had sought quotes from banks to swap gold in its own vaults for international-standard gold, aiming to improve the management of its reserves. The RBI sources said that the measure would “standardize the gold available with RBI in India with respect to international standards” and the gold acquired would
6,000-Gram Gold “Devil’s Ear” Unearthed in Russia
Moscow: Russian miners have unearthed a scary-looking 6,664-gram piece of gold they labeled the “Devil’s Ear” on Friday the 13th. According to the official publication of the local government, workers at the Ukhagan mine in the Bodaybinsky district of Siberia found the piece, the largest nugget ever found in the area, on June 13, the eve of the full moon.
GIA Plans Melee Screening Service
Ramat Gan: The Gemological Institute of America (GIA) lab will soon have the ability to mass-screen smaller stones to check for synthetics, chief laboratory and research officer Thomas M. Moses said in a speech delivered Aug. 31 at the Israel Diamond Exchange. “Later this year, we will be taking delivery of our first high-speed screening [device] for small diamonds,” Moses
‘Antwerp’s Most Brilliant’ Continues to Grow
Antwerp: In 2013, the City of Antwerp – in collaboration with AWDC, certification body KIWA, Ars Nobilis and FPS Economy – launched the Antwerp’s Most Brilliant (AMB) quality label. This label honors jewelers that continually go the extra yard to provide their customers a reliable and high quality product. Today we can confirm that the label is fully established. The
AGTA Awards Adds New Category for Silver Jewelry
New York: The 2016 AGTA (American Gem Trade Association) Spectrum Awards will feature a new category highlighting silver jewelry. The new category, sponsored by the Silver Promotion Service (SPS), will be called Savor Silver and will honor “exceptionally designed silver jewelry incorporating natural colored gemstones or cultured pearls.” “The SPS is proud to become one of the sponsors of this
Zimbabwe Govt. Urged to Cease Rough Exports
Harare: With preparations being finalized for the Zimbabwe Diamond Technology Centre (ZDTC) to open a cutting and polishing center serving the southern African region, the chairman of ZDTC, Mr. Lovemore Kurotwi, has called for the government to cease exporting rough diamonds in order to maximise profits through beneficiation. He claimed that Zimbabwe was losing millions of dollars and missing out
