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 Collapsing Hike Odds, Rising Yields Kept Indian Gold, Silver Below Their Floors
Snap Shot: Most of the damage in the week ending 2 October landed before the good news arrived, and the good news then failed to repair it. August core PCE inflation, released on 30 September, rose 3.0% from a year earlier against expectations of 3.3%, helped partly by methodology changes at the Bureau of Economic Analysis. September payrolls on 2 October then added just 29,000 jobs against forecasts near 90,000, with unemployment at 4.2% and August revised down to 133,000
Despite Collapsing Hike Odds, Rising Yields Kept Indian Gold, Silver Below Their Floors
Snap Shot: Most of the damage in the week ending 2 October landed before the good news arrived, and the good news then failed to repair it. August core PCE inflation, released on 30 September, rose 3.0% from a year earlier against expectations of 3.3%, helped partly by methodology changes at the Bureau of Economic Analysis. September payrolls on 2 October then added just 29,000 jobs against forecasts near 90,000, with unemployment at 4.2% and August revised down to 133,000
Top News
Antwerp Hosts WDC and KP Chair
Antwerp: The Antwerp World Diamond Centre (AWDC) welcomed the Kimberley Process (KP) Chair, His Excellency Wei Chuanzhong, Vice-Chair Bernardo Campos and the Mr. Edward Asscher, President of the World Diamond Council (WDC) for the purpose of renewing the Memorandum of Understanding (MoU) on the KP Administrative Support Mechanism (ASM). In 2012, the KP Plenary designated the World Diamond Council through
Barclays Fined $44 Million over Gold Fix
London: British authorities have fined Barclays, one of five banks that sets the price of gold each day in the London fix, nearly $44 million after a former trader improperly influenced the price-setting mechanism, reports jckonline.com. The British Financial Conduct Authority said that, in 2012, Daniel James Plunkett, a director on the bank’s precious metals desk, placed certain orders meant
GJF Announces Day-Long Interactive Workshop ‘Labham’
Mumbai: The All India Gems and Jewellery Trade Federation (GJF) and all major G&J Trade Associations, has announced the first-ever educational ‘Labham’ programme on 1st June 2014 in Rajkot onwards for all jewellers, manufacturers, traders and other constituents of the G&J businesses in and around Rajkot. It will be held in Chennai on 10th June and in New Delhi on
Gold Prices May Decline to Rs 24,000 by Diwali
Mumbai: Following the Reserve Bank easing the 20:80 gold import norms, India Bullion & Jewellers Association (IBJA) said gold prices are likely to fall to Rs 23,000-24,000 per 10 grams by Diwali as it also expects the Customs duty reduction in the forthcoming Budget, reports The Freepress Journal. “RBI’s easing of 20:80 gold import norms is positive for the gems
Gemfields Profit Drops Despite Rising Revenue
London: Gemfields, which provides ethically-sourced rare-coloured gemstones, posted a drop in pre-tax profit in the full year as costs rose and the margin was squeezed, even as revenue and production grew, reports Digital Look. For the year ended 30 June 2015, pre-tax profit came in at $12.3m from $16.3 last year, as selling, general and administrative expenses rose to $55.3m
WDC Adds to Criticism of Amnesty CAR Report
The World Diamond Council (WDC) has become the latest body to come out against a recent Amnesty International report that claimed diamond trafficking was being used to fund violence in the Central African Republic (CAR). WDC president Edward Asscher said in an interview with Bloomberg that the Kimberley Process (KP) had taken “more than 99 percent” of conflict diamonds off
CIBJO Releases First Blue Book Devoted to Coral
Milan: CIBJO, the World Jewellery Confederation, has released online its latest Blue Book, delineating acceptable trade practices and nomenclature for the coral industry and trade. The document was compiled by the CIBJO Coral Commission, headed by Commission President Enzo Liverino, under the auspices of CIBJO’s Sector A, which has jurisdiction over gem materials. The Coral Book can be downloaded in
ASSOCHAM Seeks Relief From Indian Govt.
New Delhi: Emphasizing that real estate, power, steel, gems and jewellery sectors are in real crisis, the Assocham has sought special dispensations for these industries by way of cut in excise duty along with other accommodative measures such as teaser loans for the housing sectors for taking these industries out of stress. Besides, the Reserve Bank of India (RBI), banks,
