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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Stéphane Fischler Re-Elected President of AWDC
Antwerp: On Wednesday June 25, during the first meeting of the new Board of Directors of the Antwerp World Diamond Centre (AWDC) the Board members reelected Stéphane Fischler as President of the AWDC. The Board of Directors also appointed Kaushik Mehta as Vice-President, representing the trade, and Freddy Inzlicht as Vice-President representing the Bourses. In 2012, the by-laws of the
No Assurance from India on Easing Gold Curbs
Mumbai: A delegation of diamond traders and representatives of Gems and Jewellery Export Promotion Council (GJEPC) met the Union Finance Minister, Arun Jaitley recently, demanding relaxation in various rules relating to gems and jewellery industry. The Finance Minister, however, remained reluctant to give any assurance on the existing gold import’s 80-20 rule, which allows only nominated agencies to import gold
Zimbabwe Running Diamond Sector like ‘Mafia’
Harare: Zimbabwean opposition politician Innocent Gonese has said that Zimbabwe’s ruling Zanu PF party needs to stop running the country’s diamond sector “like a mafia where everyone involved in the management of the gems is a thief.” The comments were made at a public forum organized by the Southern African Political and Economic Series (SAPES Trust) in Mutare, reported the
DGCX to Launch Spot Gold Contract
Dubai: Dubai Gold and Commodities Exchange (DGCX), a financial and commodity derivatives exchange is getting ready to launch a spot gold contract and a number of commodities, equity and currency derivative contracts between now and the end of the year, said Gary Anderson, CEO of DGCX in an interview with Gulf News. The exchange primarily focused on derivatives is all
Drivers of Indian Gold Demand: Report by WGC
The World Gold Council (WGC) yesterday launched a report titled ‘The Drivers of Indian Gold Demand’, the first in a series of in-depth analysis on the Indian gold market. Using an econometric model, it draws on three decades of annual data, dating from 1990 to 2020, to gauge some of the principal influences driving gold demand in India. The report
India's H1 Gem & Jewellery Exports Rise 11%
Mumbai: India’s Gem & Jewellery exports have been picking up since the start of the year and have maintained the momentum through the first half of the fiscal year. During April to September 2021, the overall gross exports of gems & jewellery recorded a growth of 11% to Rs. 140412.94 crore (+5.13% in dollar terms to US$18984.49 million) as compared to April-September 2019 of Rs. 126461.93 crore (US$ 18058.52 million). Mr.
Angola Int'l Diamond Conference from 25th Nov
Luanda: The Ministry of Mineral Resources, Petroleum and Gas (MIREMPET) informed that the first International Diamond Conference in Angola would be held from November 25 to 27, 2021, in Saurimo, the capital of the Lunda Sul province. The conference will include the participation of Mining Ministers from the main African diamond-producing nations, leaders of diamond companies and national and international
GJSCI-GJNRF Fund Training of 50 Microsetters
Mumbai: The pandemic has witnessed major migration of individuals who have been, some of the worst hit. There are innumerable stories that one would have come across during the last year and half. Most of the skilled artisans that are employed in the jewellery industry hail from states like West Bengal, Tamilnadu, Odisha, Rajasthan, etc. Due to uncertainty, these migrant
