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
Top News
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
No De Beers Office in India
Mumbai: De Beers, the global diamond mining company, says it has no plan to open a trading office in India. “The auction sales customers in India are serviced out of either Dubai or Antwerp,” said a spokesperson, to a Business Standard query. The Gems and Jewellery Export Promotion Council (GJEPC) had been pressing the central government to declare a large
Weak Ruble to Benefit Indian diamond Trade
Mumbai: The Indian diamond processing industry, the largest in the world, will benefit from the sliding Russian ruble which in the recent past has declined to even below 60 rubles per US dollar. It is estimated to have depreciated 40 per cent in 2014. By a happy coincidence, in early December, leading Indian diamond processors officially tied up with Russia’s
LUKOIL Plans to Produce 2 Mln Cts of Rough in '15
Moscow: It is expected that LUKOIL will produce up to 1.4 million carats of diamonds this year, and the next year’s production will increase by 40% to 2 million carats. The diamond business is not a strategic asset for LUKOIL, but the company is not currently seeking a buyer for its non-core diamond assets. However, Vagit Alekperov, the head of
2nd India-US Diamond Week from 12th Jan
Mumbai: Over 60 exhibitors, including Indian diamond companies and US-based Indian manufacturers, will be showcasing their products at the second India-US Diamond Week. The show, which is being held in association with the Diamond Dealers Club (DDC) New York, will take place between 12th & 15th January, 2015. A large number of visitors mainly from New York, with some from
