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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Surat to Set Diamond Bourse in 2 Lakh Sq. Yards
Surat: Surat, known as a hub for processing of rough diamond is readying itself to set up a world class diamond bourse having trading facilities which will integrate processing and house all those interested in diamond business at one place, reports The Times of India. The proposed bourse may be of the size of the one existing in Mumbai. Mumbai’s
EGL Uncovers 4 Synthetics in Parcel of 20 Stones
Ramat Gan: In an unusual case, EGL International in Israel said it has discovered four synthetic diamonds in a parcel of 20 stones submitted by a long-time client, reports idexonline.com. The lab-grown diamonds were uncovered in the first phase of testing using FTIR infrared spectroscopy, said EGL International Managing Partner and CEO, Guy D. Benhamou, who added that the diamonds
Bitcoin Growing in Adoption
New York: The cyber currency bitcoin is seeing increasing adoption, said a May 31 panel on “Bitcoin and the Jewelry Industry: What You Need to Know.” “In terms of the world’s economic system, bitcoin is doing small numbers,” said the panel’s moderator Verichannel CEO Jacques Voorhees, whose son works for a bitcoin company. “But the adoption rate is soaring.” Some
Fresh Diamond Looting Spree in Marange
Harare: Observers have reported a fresh diamond looting spree, with security and army chiefs said to be working hand in glove with senior mining companies’ staff in the scam. Reports said the swindle is being spurred on by panic among mining staff members who are not sure of their fate following a government announcement that it will streamline diamond mining
AWDC to Focus on Financial Innovation
Antwerp: The diamond trade around the world is under duress. Antwerp, the most important international trade center, did not escape the year unscathed, but was the best performer. This past year, 48.3 billion USD worth of diamonds were imported to and exported from Antwerp. The world’s diamond trade is currently under duress, with a global decline in sales across the
JNA Awards Reveals 2016 Judging Criteria
Hong Kong: The judging criteria for the fifth edition of the annual JNA Awards have been finalized. Online registration has also been opened to give interested companies and individuals from the jewellery and gemstone industry more time to review the entry rules and criteria before the submission period begins in early March. The JNA Awards, organized by JNA, has been
WPIC Approved as SBM Association Member
Singapore: The World Platinum Investment Council (WPIC) has been approved by the Singapore Bullion Market Association (SBMA) for foreign associate corporate membership, reports yourminingnews.com. This marks the first in a series of strategic initiatives the WPIC is developing in 2016 to stimulate investor demand for physical platinum and increase the number and type of platinum investment opportunities available in Asia.
De Beers Q4 Diamond Output Down by 16%
Gaborone: De Beers said its diamond output for the fourth quarter of 2015 fell 16 percent to 7.1 million carats compared with 8.4 million carats produced a year earlier. It said in a statement that the drop reflected the decision by the group to reduce production in response to trading conditions. The diamond market struggled last year due to liquidity
