We Wish to Build Globally Relevant SKY Gold: Akash Talesara
Israel’s Diamond Industry Under Severe Pressure
Did Natural Diamond Ind. Misjudge LGD Threat?
Why Is a Widening Gulf War Lifting Oil but Sinking Gold and Silver?
Macro Snapshot: The week ending 30 October brought the kind of news that once sent buyers into gold. Reuters reported the first known successful limpet-mine strike on a tanker in the Strait of Hormuz since the war began in February, and Houthi forces claimed strikes on Saudi refineries. Washington ordered non-emergency government staff out of Saudi Arabia amid reports that US strikes on Iran could resume after the 3 November midterm elections. Brent rose 13.6% over October, with the expiring
Why Is a Widening Gulf War Lifting Oil but Sinking Gold and Silver?
Macro Snapshot: The week ending 30 October brought the kind of news that once sent buyers into gold. Reuters reported the first known successful limpet-mine strike on a tanker in the Strait of Hormuz since the war began in February, and Houthi forces claimed strikes on Saudi refineries. Washington ordered non-emergency government staff out of Saudi Arabia amid reports that US strikes on Iran could resume after the 3 November midterm elections. Brent rose 13.6% over October, with the expiring
Top News
Big FDI Increase in India’s G&J Sector
Mumbai: Foreign Direct Investment (FDI) in India’s gems & jewellery sector witnessed an impressive year-on-year growth of 673% in the first quarter of FY2024, rising to $40 million (INR 330 crore) from $5 million (INR 42 crore) during the same period in 2023. This sharp increase highlights renewed investor confidence in the sector. According to a review by the GJEPC,
Diavik Begins Underground Production
Perth: Rio Tinto’s Diavik diamond mine has officially entered commercial production at its A21 underground mine, marking a significant milestone in the mine’s operations. The successful completion of Phase 1 of the A21 underground project comes after extensive development and construction efforts. The company has also received approval for Phase 2 of the project, with an additional investment of $17
Govt. Offers Duty Waiver for India Jewellery Park
Mumbai: The Maharashtra state government has announced a complete waiver of stamp duty on the first lease of land and subsequent sub-leases within the India Jewellery Park, a project of GJEPC, at Mahape, Navi Mumbai. The decision, outlined in the Maharashtra Government Gazette dated 25th September 2024, aims to encourage investment in the jewellery sector and promote the development of the
Israel-Iran War: Impact on India’s G&J Industry
Mumbai (By Suresh Chotai): The escalating tensions between Iran and Israel could have several direct and indirect impacts on India’s Gem & Jewellery (G&J) industry, which is one of the largest in the world, particularly focused in Surat. Here’s a look at potential effects: The ongoing conflict is likely to benefit India’s exports of cut and polished diamonds due to
Indian Govt. Eyeing On the Gold in Temples
New Delhi: Around 3000 tonnes of gold is said to be amassed by the temples of India in the form of offerings from devotees and, the worth of other jewellery can be price less. Now, the government of Narendra Modi is planning to introduce a new deposit scheme for Temples from May and thus combat the Trade Imbalance faced by
Huge Haul of Gems Stolen in London
London: On April 7, thieves using heavy cutting equipment broke into 60–70 safe deposit boxes in London’s Hatton Garden district, home to numerous diamond and jewelry wholesalers, according to a statement by the local Metropolitan Police. Reports say that the thieves may have gotten as much as $300 million in gold and diamonds, which John Kennedy, president of the Jewelers’
India Cuts Diamond Production By 30%
Mumbai: India’s diamond manufacturers have decided to cut production by up to 30% to avoid inventory buildup in a slowing market, reports The Economic Times. After a dismal last quarter, the country’s diamond industry, which accounts for about 80% of the world’s production of polished stones, is facing a gloomy start to the new fiscal, primarily due to a fall
CIBJO Gemmological Commission to Focus in Brazil
Milan: With fewer than four weeks to go to the opening of the 2015 CIBJO Congress in Salvador, Brazil, on May 4, 2015, the fifth of the CIBJO commissions’ Special Reports has been released. Prepared by the CIBJO Gemmological Commission, headed by Hanco Zwaan, the report looks at issues related to nomenclature and identification, and in particular how these have
