We Wish to Build Globally Relevant SKY Gold: Akash Talesara
Israel’s Diamond Industry Under Severe Pressure
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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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US, EU to Consult Industry Leaders on Sanctions
New York: US and EU officials are to consult diamond industry leaders on further measures against Russia for its “unprovoked war in Ukraine”.James O’Brien, head of the Office of Sanctions Coordination in Joe Biden’s administration, will seek the views of diamond retailers, manufacturers, laboratories, and industry trade associations. The US currently sanctions rough diamonds from Russia, but not those polished
De Beers Generates $495m from 2nd Cycle
Gaborone: De Beers has announced a provisional rough diamond sales value of $495 million for the second sales cycle of 2023, according to Anglo American. The revenue raked in rose 9% compared to $454 million registered during the first rough diamond sales of the year or $652 million, a year earlier. Group chief executive Al Cook said they witnessed continued
IIGJ’s Convocation Ceremony for Post Graduate Diploma
Mumbai: The Indian Institute of Gems & Jewellery, Mumbai held its convocation ceremony for graduates of the 1-year Post Graduate Diploma in Jewellery Management programme at the Institute’ auditorium recently, in which graduates of three batches were conferred with diplomas. Dr. Saumya Badgayan, Vice President-HR & IR graced the occasion as Chief Guest and presented trophies and certificates to the
No Sale of Gold Jewellery Without HUID from April 1
New Delhi: Sale of gold jewellery and gold artefacts without a Hallmark Unique Identification (HUID) number shall not be permitted in the country from April 1, Union Ministry of Consumer Affairs, Food and Public Distribution said on Friday. Briefing reporters, Nidhi Khare, Additional Secretary, Department of Consumer Affairs, said, “In consumer interest it has been decided that after 31st March,
India’s Rough Imports Inceased by 16.19%
Mumbai: India’s cut & polished diamond exports for month of June 2014 has registered $1,469 million (2,695,000 carats), showing a decrease of 0.66 percent against $1,478.81 million (2,806,000 carats) during June 2013, according to the provisional figures announced by the Gem & Jewellery Export Promotion Council (GJEPC) of India. For the period of April 2014 to June 2014 too, cut
3 Carat Synthetic Largest-Ever Grown Gem
New York: Pure Grown, the man-made diamond company formerly known as Gemesis, is selling a 3 ct. K SI stone—which it calls the largest colorless diamond ever produced by nonnatural means, reports jckonline. Lisa Bissell, the Fabrikant veteran recently appointed president and CEO of the company, says that she has every intention of selling the gem, which has a report
Zimbabwe Imposes Embargo on Rough Export
Harare: The Zimbabwean government has reportedly banned the export of rough diamonds to ensure the country realises maximum value for its gems. NewsDay quoted Mines and Mining Development minister Walter Chidhakwa as saying that the issue was extensively discussed and Cabinet agreed and directed that “we implement the new institutional programme”. He said Harare had recognized that it was “not
GJF Launches Monthly ‘G&J Times’
Mumbai: The All India Gems and Jewellery Trade Federation (GJF), the national trade federation for the promotion and growth of trade in Gems and Jewellery (G&J) Industry across India, hosted an exciting 6th edition of its signature GJF NITE 2014 in Mumbai. The fun filled, entertaining and musical fashion extravaganza event, presented by R. M. Jewellery and powered by CVM,
