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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Gold Curb Relaxations on the Way…
New Delhi: The government of India has indicated that there is a need to ease norms for bullion imports to boost supplies and jewellery exports. “There is a need of rationalisation in (gold import) duty and (gold import) procedure….We have already made it clear that there is a need to look at the current gold import regime,” commerce secretary Rajeev
RBI's Credit Limit Troubles Diamond Units
Surat: At least 350 small and medium diamond companies in the world’s biggest diamond cutting and polishing centre in Surat are facing severe financial problems with Indian banks strictly implementing the 90 days credit limit for overseas payment to rough diamond dealers in Antwerp and Dubai for the past four months, reports The Times of India. The Gem and Jewellery
India Eyes Direct Diamond Tie-Ups with Russia
Mumbai: With the threat of US economic sanctions on Russia hanging like a Damocles sword, India’s gem and jewellery industry is gearing to establish direct contacts with Russia, to source rough diamonds, reports Business Line. Supply of roughs from Russia to Dubai and Belgium could be severely impacted if the US imposes economic sanctions on Russia, say exporters. Currently, the
Platinum Prices Slide despite Stalled Strike Deal
Johannesburg: Despite a broad rally in metals prices, PGM futures trading in New York pulled back on Friday despite a fresh impasse in strike negotiations in South Africa. Palladium futures trading on Nymex gave up more than 2% or $17 an ounce on Friday day to trade at $822.50 an ounce, while platinum contracts fell 1.1% or $16 an ounce
Alrosa Production up by 6% in 2015
Moscow: Russian mining company Alrosa has issued a production and preliminary trading performance report for the fourth quarter and full year of 2015. The results show diamond production for the year totaled 38.3 million carats, up 6 percent compared with 2014, and in line with the 2015 guidance. The increase in production is attributed to commissioning of the Botuobinskaya pipe
7th ADTF Opens from 31st January
Antwerp: The 7th Antwerp Diamond Trade Fair (ADTF) will open its doors to jewelers, jewelry manufacturers and jewelry designers from all across the globe, from January 31 till 2 February 2016. Over the course of three days, they can meet with Antwerp’s top diamond companies within the halls of the Antwerp Diamond Bourses. One of the highlights of the three-day
Kalyan Jewellers to Invest Rs. 600 Crore to Expand
Thrissur: Kalyan Jewellers announced that it will hit the 100 showroom mark by the end of this financial year by adding 14 new showrooms, with 7 in India and 7 in West Asia. The company is investing Rs. 350 crore to expand its distribution capabilities, especially in the Northern and Eastern regions of the country and will spend another Rs.
Six More Arrested in GIA Hacking Case
Mumbai: Six more people have been arrested in relation to the hacking of Gemological Institute of America (GIA) diamond-grading reports by outside parties as the investigation into the case continues. A total of eight arrests have now been made as a result of cooperation between the GIA, the Indian authorities and Tata Consultancy Services (TCS), the contractor that supports GIA
