We Wish to Build Globally Relevant SKY Gold: Akash Talesara
Israel’s Diamond Industry Under Severe Pressure
Did Natural Diamond Ind. Misjudge LGD Threat?
Despite Global Losses & Firmer Rupee, Indian Gold & Silver Held Their Floors
Macro Snapshot: The selling that pushed both metals lower in the week ending 25 September came from the American bond market rather than from any bullion-specific news. S&P Global’s flash survey on 23 September put its composite output index at 58.4, the strongest reading since July 2021, with services at 58.7 and manufacturing at 56.7. On the same morning, Federal Reserve Governor Michael Barr said further policy adjustments were likely to be needed to return inflation to target. A poorly
Despite Global Losses & Firmer Rupee, Indian Gold & Silver Held Their Floors
Macro Snapshot: The selling that pushed both metals lower in the week ending 25 September came from the American bond market rather than from any bullion-specific news. S&P Global’s flash survey on 23 September put its composite output index at 58.4, the strongest reading since July 2021, with services at 58.7 and manufacturing at 56.7. On the same morning, Federal Reserve Governor Michael Barr said further policy adjustments were likely to be needed to return inflation to target. A poorly
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DDE’s Peter Meeus Hits Back at PAC Claims
Dubai: Dubai Diamond Exchange Chairman Peter Meeus replied to what he called “serious allegations” made by Partnership Africa Canada about Dubai at the Kimberley Process (KP) Intersessional meeting taking place in Shanghai. “First of all we were surprised to see that Mr. Martin quoted an FAFT (Financial Action Task Force) report on ML/TF (Money Laundering/Terrorism Financing) of 150 pages in
Israel Exchange to Create Code of Ethics
Ramat Gan: In what appears to be a ground-breaking move for a diamond bourse, the Israel Diamond Exchange (IDE) has begun moves to create a code of ethics by which its members would be expected to operate. At a meeting at the bourse, IDE President Shmuel Schnitzer and management members discussed the creation of such a code with Israeli experts
China’s Jewellery Sales Accounted for 41%
Beijing: Mainland China is a major jewellery consumer in the world. According to the recently released China Jewellery Industry Report, 2013-2016, last year jewellery sales in Chinese Mainland approximated $75.8 billion, which is equivalent to 41.2 % of the global consumption. In Mainland China, the gold jewelry consumption accounts for about 50% of the total jewellery consumption. In 2013, two
Gold Smuggling in India May Fall to 50 Tonnes
Mumbai: Going by the seizures of gold which has increased four times in 2013-14, intelligence agencies have estimated gold smuggled in the country around 50 tonnes in 2013-14 which is way lower from the estimated by the World Gold Council (WGC), reports The Business Standard. WGC had estimated nearly 200 tonnes of gold entered India unofficially. Trade circles have been
Belgium Charges HSBC with Fraud
Antwerp: Belgian prosecutors have charged a subsidiary of British bank HSBC with fraud and money-laundering worth hundreds of millions of euros, mainly for diamond dealers in the industry’s international hub of Antwerp, reports RTE News. Swiss subsidiary HSBC Private Bank (Suisse) is wholly owned by the Asia-focused banking giant. It allegedly helped hundreds of clients cheat the Belgian state, a
Zimbabwe’s Diamond Exchange Gets Backing
Harare: Government’s plans to set up a diamond exchange have received a major boost following commitment by world gem organizations to support the initiative. World Federation of Diamond Bourses president Ernie Blom said the world body is ready to ensure that Zimbabwe’s objective becomes a reality. “I know that the Government of Zimbabwe has been considering setting up a diamond
GJPEC in Jewellery Arabia with 64 Companies
Mumbai: The Gem and Jewellery Export Promotion council (GJEPC) is participating in the forthcoming 23rd Jewellery Arabia exhibition in Bahrain at the Bahrain International Convention & Exhibition Centre from November 18 to 22, 2014 represented by 64 leading names from the Indian Gems & Jewellery industry. The participation has increased over last year and so has the exhibit space by
Glitter of Gold Worries Govt. of India
Mumbai: Alarmed with the substantial surge in imports of gold during last couple of months, the Indian government may be compelled to introduce such measures to regain control over the heavy imports of the yellow metal. India’s October 2014 gold imports have jumped to 148 tons which indicate six-fold rise from less than 25 tons in the same month of
