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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RBI Allows Private Agencies to Import Gold
Mumbai: The Reserve Bank of India (RBI) yesterday eased tough gold import rules by permitting seven more private agencies to import the yellow metal. It is a measure that industry officials say could increase supplies and reduce premiums in the peak wedding season. Gold imports by India, the world’s No. 2 bullion consumer after China, could quickly rise from current
GJEPC Flays Surat Diamantaires on Bourse Plan
Mumbai, 22nd May: The Gems and Jewellery Export Promotion Council (GJEPC), of India has criticized the move by some diamantaires in Surat to shift their Mumbai operations to the proposed Surat Diamond Bourse (SDB) in Surat, reports The Times of India. GJEPC chairman Vipul Shah said, “It is not the prerogative of 50 diamantaires to decide and win over others
India Raises Import Tariff Value of Gold, Silver
Mumbai: India has raised its import tariff value of gold and silver on Wednesday. Indian government has trimmed its import tariff value of gold from $421 per ten grams to $431 per 10 grams and silver from $644 per kilo gram to $ 646 per kilo gram, said the ministry of finance. Import tariff value is the base price on which
Zimbabwe Diamond Output, Sales Dipped in 2013
Harare: Zimbabwe’s diamond output declined 26.1 percent to 8.9 million carats last year, according to Equity Communications, reports Rough&Polished. The Harare-based research company said in a statement emailed told Rough&Polished that Zimbabwe was the only “major” diamond producer, which experienced a “sharp” decline in production and sales last year. It said diamond production in the Southern African country took a knock
Diacam360 to be Launched During IDW
Ramat Gan: One of the highlights of the upcoming International Diamond Week (IDW) in Israel, which will commence on February 8, is the launch of a table-top, affordable and easy to use scanning device that produces high quality photos and 360-degree, interactive videos of polished diamonds in seconds. The device, which will be unveiled at the event’s DiamTech exhibit, was
Diamond Trading: India Team Visits Belgium, Dubai
New Delhi: To expedite the process of setting up a special notified zone for rough diamond trading, the government has sent a team of senior officials to study the trading models in Belgium and Dubai before firming up a policy for India, reports Financial Express. The sending of the team, comprising officials from the ministries of commerce and finance as
ALROSA to Cut on Diamond Stockpiles in 2015
Moscow: This year ALROSA will sell out some of its diamond stock, the amount of unsold diamonds will reduce to 11 million carats from 18 million carats three years ago, while its loan burden will drop by $1.3 billion from the 2014 level of $3.6 billion, ALROSA’s acting president Ilya Ryaschin was quoted by the company’s corporate journal as saying.
Anglo American Facing Downgrade to Junk Rating
Gaborone: Mining giant Anglo American risks a downgrade to “junk” status as it faces billions of dollars of writedowns and plunging profits as commodity prices tumble. The ratings agency Standard & Poor’s is finalizing a review of leading miners following the slide in commodities, including copper, coal, iron ore and platinum, The Australian reports citing The Sunday Times. Anglo American,
