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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India’s Significant Achievement at KP
Dubai: The delegation, led by Mr. Siddharth Mahajan, Joint Secretary, Ministry of Commerce, Government of India, and consisted Mr. R. Arulanandan, Director and Mr. Sabyasachi Ray Executive Director and team from GJEPC, participated in discussions in order to promote conflict-free rough diamond trade. India’s proactive engagement with the KP process highlights our dedication to upholding ethical sourcing practices, combating conflict
Civil Society Slams KP in Plenary Meeting
Dubai: The Kimberley Process Civil Society Coalition (KPCSC) has criticized the diamond industry’s regulatory body for its lack of meaningful reforms, accusing it of going in circles without real progress. Speaking at the Kimberley Process plenary in Dubai, KPCSC coordinator Jaff Bamenjo expressed frustration over the UN-backed organization entering its second year of another reform cycle while persistent challenges remain
Oct. 2024 Marks Revival in CPD Exports
Mumbai: India’s gem and jewellery exports has made strides in October 2024, marking a turning point with positive growth in multiple product categories, notably cut and polished diamonds, gold Jewellery (plain & studded), and polished lab-grown diamonds. In October 2024, the overall gross exports of gems and jewellery reached USD 2,998.04 million (Rs. 25,194.41 crores), marking a growth of 9.18% in
WDC Urges KP to Unite to Overcome Obstacles
Dubai: The World Diamond Council President, Feriel Zerouki (WDC), delivered her opening address to the 2024 Kimberley Process (KP) Plenary with a compelling call for unity and action, addressing industry challenges and the need for essential reforms. In her keynote speech, she emphasized the WDC’s commitment to strengthening the KP and promoting an equitable and sustainable diamond industry. In her
Swarovski to Stage Landmark Exhibition
Shanghai: Swarovski is to unveil a major brand exhibition in Shanghai this September celebrating almost 130 years of its storied heritage as Masters of Light across the worlds of fashion, jewelry, and pop culture. Entitled Swarovski – Masters of Light from Vienna to Shanghai, the exhibition will explore the crystal Maison’s artistry and savoir-faire as well as its unique impact on
CIBJO Publishes Diamond Commission Report
Milan: With fewer than seven weeks to go to the opening of the 2023 CIBJO Congress in Jaipur, India, on October 3, 2023, the fourth of the pre-congress Special Reports has been released. Prepared by the CIBJO Diamond Commission, headed by Udi Sheintal, the report looks at how changes in industry standards and nomenclature are affected by developing geopolitical situations,
Zimbabwe Stockpiles 300,000 Cts. of Diamonds
Harare: The Reserve Bank of Zimbabwe (RBZ) has stockpiled 300,000 carats of diamonds under new regulations which compel miners to pay half of their royalties using commodities, the state-run Sunday Mail reported. Central bank governor John Mangudya also told the Harare-based newspaper that gold reserves stood at around 350 kilograms, or around $20 million in US dollars. The value of
Lucara Finds 4th +1,000-ct Diamond at Karowe
Toronto: Lucara recently announced the recovery of a 1,080.1 carat diamond. It’s the fourth +1,000-ct stone from Karowe, in Botswana, since the mine opened in 2012. The Type IIa top white gem quality diamond measures 82.2m x 42.8m x 34.2mm and was recovered from direct milling of ore sourced from the mine’s South Lobe. In November 2015, a 1,109-carat stone
