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
De Beers’ Rough Sales Down by 20% in H1
Mumbai: Diamond mining giant De Beers announced its financial results for the first half of 2024, revealing a challenging operating environment marked by softening demand and increased competition from lab-grown diamonds (LGDs). The company reported a 21% decline in total revenue to $2.2 billion compared to $2.8 billion in the same period last year. Rough diamond sales also fell 20%
Delegation from Botswana Visits BDB
Mumbai: Bharat Diamond Bourse (BDB) recently hosted His Excellency, Mr. Gilbert S. Mangole, the esteemed High Commissioner of Botswana, along with Mr. Dipopego Julius Tsheko, Trade Attaché, on a visit aimed at fostering bilateral ties and exploring opportunities in the diamond industry. The visit took place on July 24, 2024 and included a comprehensive tour of the facilities and interactions
G&J Sector Welcomes the Union Budget
New Delhi: The Gem & Jewellery Export Promotion Council (GJEPC), India’s apex trade body for Gems & Jewellery) hailed the first Union Budget of Prime Minister Mr. Narendra Modi 3.0 government presented by Finance Minister Smt. Nirmala Sitharaman for the seventh historic time as a game changer for the indigenous gem & jewellery industry. Hon. Finance Minister acknowledged that India
PGI Welcomes Reduction on Platinum Duty
New Delhi: India’s Finance Minister Ms. Nirmala Sitharaman, on July 23, announced a cut in custom duty on gold and silver to 6%. Additionally, the finance minister further informed the customs duty slash on platinum to 6.4%. “To enhance domestic value addition in gold and precious metal jewellery in the country, I propose to reduce customs duties on gold and silver to
Euro MPs Vote to Ban Conflict Minerals
Brussels: In a surprise decision, the European Parliament recently voted to ensure that as with diamonds and other precious stones, European Union (EU) importers of tin, tantalum, tungsten and gold for manufacturing consumer goods, be certified by the EU to ensure they do not fuel conflicts OR human rights abuses in conflict areas. The decision to ban was unexpected because
India Condemns Discriminatory Practices
Mumbai: A news report appeared in some newspapers has alleged that Harikrishna Exports declined job to a person on basis of religion. Chairman of The Gem & Jewellery Export Promotion Council (GJEPC) Mr. Vipul Shah has issued a statement in this reference which says, “The Gem & Jewelry industry of India condemns discriminatory practices in employment and trading, be it
Charges Dropped Against Rafael Marques
Luanda: The defamation case against Rafael Marques de Morais over his scathing depictions of Angola’s diamond industry has been dropped, reports JCKonline. “I confirm the withdrawal of the charges,” he said via email. Marques was being charged by leading generals in the Angolan military over his book, Blood Diamonds: Corruption and Torture in Angola, which includes tales of corruption sometime-graphic
'Make in India' shines in 'India Pavilion' at JCK
Mumbai: Gem & Jewelry Export Promotion Council (GJEPC), the apex body of gem and jewelry industry in India has strived to establish India as a global diamond and Jewellery trading destination. This endeavor has seen participation of the Indian gem and jewelry industry in some of the largest, glamorous and most prestigious trade events including the soon to be held
