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
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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
Honouring the GEMS of the G&J Industry
Mumbai: The India International Jewellery Show (IIJS) Premiere will felicitate the luminaries of the Gems & Jewellery industry recognizing their outstanding contributions with their dedication and passion that not only elevated the industry but also inspired generations of craftsmen and entrepreneurs. Some celebrated names among them include Mr. Joy Alukka, Mr. Varghese Alukka, Mr. John Alukka, Mr. Paul Alukka, etc.
KP Figures Say Diamond Industry is Shrinking
Johannesburg: The value of rough diamonds mined globally during 2023 fell by just over 20 per cent, down from $16bn in 2022 to $12.7bn according to the latest Kimberley Process (KP) figures. The volume of diamonds mined fell by 7.6 per cent to 111.5m carats, and average per carat prices slipped almost 14 per cent from $132.27 to $114.10. Production
Q2 Output of De Beers’ Declined by 15%
London: De Beers’ rough diamond production decreased by 15% to 6.4 million carats in Q2 of the year, according to a statement issued by the Anglo American. It said production decreased in Botswana by 19% to 4.7 million carats, driven by intentional lower production from short-term changes in plant feed mix at Jwaneng to process existing surface stockpiles. Production at
World Bank Sanctions US$ 45 Mn for Tanzania
Dar-Es-Salaam: The World Bank Group’s Board of Executive Directors recently approved of a credit of US $ 45 million “to improve the socioeconomic impacts of large and small-scale mining for the country and people”, said the Bank in a press note. The Bank also expressed its intention to “help increase private, local, and foreign investments” in the country. “This project
SA Diamond Valuator Fired For Probing De Beers
Johannesburg: A senior South African government diamond valuator in Johannesburg was allegedly blocked and consequently fired for investigating diamond giant De Beers. Independent Online reports Conrad Benn, the country’s first black diamond valuator, approached the high court to challenge the South African Diamond and Precious Metals Regulator’s decision to suspend him in April last year and fire him last month.
‘Blood Diamonds’ Posted Online
Luanda: The explosive and often shocking book about the Angolan diamond industry that led to criminal charges against its author has been posted online by Reporters Without Borders. Rafael Marques de Morais, a frequent critic of the Angolan government and its diamond business, was charged with criminal defamation in his home country for his 2011 book Blood Diamonds: Corruption and
Japan's Diamond Exports Surge to Record Levels
Tokyo: Japan’s diamond and gold exports have recently enjoyed a surge on the back of a weaker yen, which has pushed up prices, with exports through April rising to record levels, according to a report in the Nikkei Asian Review. Japan exported 350 million yen ($2.79 million) worth of diamonds in April, a 60-percent increase from a year ago. Exports
