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
Raise Import Payment Credit to 180 Days: GJEPC
New Delhi: With expectations running high from the first budget of the Narendra Modi government at the Centre, a delegation of diamond traders and representatives of Gems and Jewellery Export Promotion Council (GJEPC) today met the Union Finance Minister, Arun Jaitley in New Delhi demanding relaxation in various rules relating to gems and jewellery industry. However, gold importers may feel
Suresh Shah New VP of IDMA
Antwerp: With the wrap-up of the 36th World Diamond Congress, the International Diamond Manufacturers’ Association (IDMA) concluded its meetings with the election of its officers. Maxim Shkadov was unanimously re-elected for a second term as IDMA President and Ronnie VanderLinden and Stephane Fischler were re-elected as Secretary General and Treasurer, respectively. IDMA Vice President Edward Asscher, who was recently elected
Gold-Silver Price-Setting Methods May Change
London: The decades-old methods for determining the daily benchmark prices for gold and silver seem set to change—the result of unwelcome attention from regulators and class-action lawsuits. Currently, the price of both metals is set at a daily teleconference by a number of prominent multinational banks—four in the case of gold, and three in the case of silver. However, the
CIBJO Gives Sustainability Frame for Pearl Sector
Milan: CIBJO President Gaetano Cavalieri has presented an outline for sustainability in the cultured pearl sector, emphasizing that a comprehensive approach must be taken that addresses economic, environmental and social responsibility. He was speaking at the Sustainable Pearls Forum, which took place in Hong Kong on June 21. The cultured pearl industry provides an opportunity to introduce concepts that often
ALROSA Mulls Production Cut in 2016
Moscow: ALROSA may reduce production in 2016 as its rough diamond inventory is at a critical level in a weak market. “Currently, our inventory stands in excess of 20 million carats and increasing inventory further would not be feasible for the company, or it would be difficult economically,” Ilya Ryashchin, ALROSA’s first vice president in charge of finance and economy,
Rio Tinto Completes First Rough Viewing at IDTC
Mumbai: Rio Tinto recently completed the inaugural rough diamond viewing at the India Diamond Trading Centre (IDTC) – India’s first SNZ – in Mumbai’s Bharat Diamond Bourse (BDB). The viewing was held from November 23 to November 25, 2015. The selection on view included rough diamonds from Rio’s Argyle and Diavik mines. After completion of the viewing, the diamonds were
India Gets Rs. 246 cr. from Gold Bonds
New Delhi: Government today said Gold Bond scheme got overwhelming response from retail investors with 63,000 applications amounting to Rs 246 crore, while the gold monetization scheme, which has so far witnessed a “slow response”, has been tweaked. On gold bond scheme, a Finance Ministry statement said: “This scheme saw an overwhelming response from the investors throughout the country and
Diamond Detection Expo & Sympoon 15-16 Dec
Mumbai: The Gem & Jewellery Export Promotion Council (GJEPC), the apex body of gems and jewellery industry in India in association with Bharat Diamond Bourse (BDB) will organize a Diamond Detection Expo and Symposium (DDES) at BDB, Mumbai on 15th& 16th of December. DDES, an educative initiative is organized with an objective to impart knowledge on synthetic diamonds, its detection
