We Wish to Build Globally Relevant SKY Gold: Akash Talesara
Israel’s Diamond Industry Under Severe Pressure
Did Natural Diamond Ind. Misjudge LGD Threat?
With December Hike Odds Intact, Can a Midterm Rally Repair Gold, Silver’s Breakdowns?
Macro Snapshot: Gold posted its best week since late August, but it got there on rate relief that had disappeared by Friday. COMEX gold rose 4.5% to $4,074.9 and silver 5.4% to $51.94 while cheaper oil pushed the odds of a December Fed hike down from about 71% on 30 October to 64% ahead of Friday’s payrolls, according to CME FedWatch readings reported by Benzinga and Reuters. The jobs data sent the odds back up to 74.8%, CNBC reported, a
With December Hike Odds Intact, Can a Midterm Rally Repair Gold, Silver’s Breakdowns?
Macro Snapshot: Gold posted its best week since late August, but it got there on rate relief that had disappeared by Friday. COMEX gold rose 4.5% to $4,074.9 and silver 5.4% to $51.94 while cheaper oil pushed the odds of a December Fed hike down from about 71% on 30 October to 64% ahead of Friday’s payrolls, according to CME FedWatch readings reported by Benzinga and Reuters. The jobs data sent the odds back up to 74.8%, CNBC reported, a
Top News
GJEPC Signs Historic ‘Luanda Accord’
Luanda: India’s Gem & Jewellery Export Promotion Council (GJEPC) has signed yesterday ‘The Luanda Accord’ in Luanda, Angola alongside the Mining Ministers of Angola, Botswana, South Africa, and Namibia, in collaboration with prominent industry bodies such as AWDC, Belgium, DMCC, Dubai, and De Beers. As the leading global organization driving the international growth of the jewellery industry, GJEPC’s efforts are
Emmanuelle Nodale Appointed as Brand CEO, De Beers
London: De Beers Group today announced the appointment of Emmanuelle Nodale as Brand CEO, De Beers London, as the brand enters a new phase of global expansion and strategic evolution as part of the Group’s Origins strategy. With over 20 years of expertise in shaping and developing global brands, Nodale is recognised for her strategic leadership and ability to translate
New Collaborations, Partner Alignments Expected from PGI’s Upcoming BSM
Mumbai: Platinum Guild International (PGI) is organizing its annual Buyer Seller Meet (BSM) in Kochi on 26-27 June. The 8th edition of India Buyer-Seller Meet is an exclusive, invitation-only event focused on fostering collaboration and business opportunities between platinum jewellery retailers and manufacturers. It serves as a platform for showcasing innovative designs, finalizing orders, and building partnerships ahead of key
Gemfields Generates $31.7m from Auction of Mixed Ruby
London: Gemfields has reported good demand for fine-quality rubies on yesterday in spite of market turbulence, with its latest mixed-quality ruby auction generating $31.7m in revenue. “Demand and pricing for fine-quality rubies remain strong,” said Adrian Banks, Gemfields’ MD of product and sales. “Today’s auction result demonstrated the resilience of rubies in turbulent times,” he said. The auction, held between
Botswana’s Deficit May be Wider than Projected
Gaborone: Botswana’s budget deficit for fiscal 2016 may be much wider than the projected 2.6 percent due to the slowdown in the diamond market, credit rating agency Moody’s said on August 27. Earlier, Botswana’s Finance Ministry forecast a deficit of $393 million (4.03 billion pula), or 2.6 percent of its gross domestic product for the fiscal year. Diamonds account for
Alrosa Diamonds worth Millions Disappear
Moscow: Four uncut diamonds have disappeared while being held at the State Precious Metals and Gems Repository (Gokhran) for sorting, Kommersant daily newspaper reported on Thursday, citing unidentified sources in the industry. The precious stones were part of a bigger batch of diamonds submitted to Gokhran by Severalmaz mining company that extracts diamonds at a large mine in the northern
Dubai Banks Facing Major Jewelry Loan Default
Dubai: Officials of 15 banks met in Dubai on Wednesday to discuss growing concerns over the financial health of a (as yet unidentified) major jewelry chain which owes an estimated Dh550 million (US$ 150 million) to them and has allegedly defaulted on payments, banking and industry sources told Gulf News. Some banks are planning to lodge a formal complaint of
Antwerp Remains Important Rough Trading Hub
Antwerp: Antwerp is still the most important rough diamond trade hub in the world. This is according to the 2014 annual figures from the Kimberley Process Certification Scheme, which monitors and maps out diamond production and distribution worldwide. The figures also reveal that the Antwerp rough diamond traders’ profit margins are under duress, with an average profit margin of 1%.
