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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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.
India May Increase Duty on Synthetics to 10%
New Delhi: The government may increase the import duty on man-made diamonds to 10 per cent in order to remove the price differential with natural diamonds which encourages some jewellers to “cheat the customers”, reports The Indian Express. Simultaneously, it could abolish the customs duty on cut and polished gem stones as these can be re-exported at higher value. The
Pre-Budget Recommendations by GJF
Mumbai: The All India Gems and Jewellery Trade Federation (GJF), the national trade federation for the promotion and growth of trade in Gems and Jewellery (G&J) sector across India, has urged Union Finance Minister Shri Arun Jaitley to abolish 80:20 rule for gold import, which allows only the nominated agencies to import gold on the condition that 20 per cent
AWDC and ALROSA Renew Cooperation Agreement
Antwerp: The Antwerp World Diamond Centre (AWDC), the official representative of the Antwerp diamond industry, and ALROSA, world’s largest diamond mining company by volume, renewed their cooperation agreement today. The renewed cooperation agreement will further expand and strengthen the close relationship between and leadership roles of the two organizations over the course of the next years. The objective of this
Anglo American Plans to Fire un Vaccinated Workers
London: Anglo American, parent company of De Beers, plans to sack workers who refuse the Covid vaccine, according to a report in Daily Telegraph newspaper. The requirement will apply to “all employees, contractors and any visitors to Anglo sites as well as all new joiners,” the paper says, citing documents it has seen. London-based Anglo will reportedly introduce the policy early
IIG Students Visit SRK Exports
Mumbai: The International Institute of Gemology (IIG) organized the industrial visit for the students of Gemstones and Diamond to SRK Exports on 27th November 2021 followed on the next day to GJSM-2021 on 28th November 2021 guided with the director IIG, Mr. Rahul Desai and faculty coordinator, Ms. Pooja Ray. The industrial visit was organized to one of the largest diamond
IDI Launches Rock en’Roll Campaign to Spur Sales
Ramat Gan: The Israel Diamond Institute (IDI) launched a campaign on 1st December that offers discounts of up to $200 to buyers of Israeli diamonds from qualified sellers. Titled Rock en’Roll, the campaign is intended to boost the already robust Israeli diamond sales during the holiday period, as per a press release from IDI. The program offers buyers a discount
