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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De Beers Group Invests $2 Mln in Kelp Blue
Gaborone: De Beers Group has announced it is investing US$2 million in Kelp Blue, an innovative start-up focused on growing and managing large-scale giant kelp forests, initially off the Namibian coast. These underwater forests have the potential to safely and permanently lock away vast amounts of CO2 in the ocean. Research has shown that kelp forests have carbon sequestration properties
India’s Silver Jewellery Demand Up by 45% in 2021
Mumbai: The global silver market realised growth in every demand category in 2021, marking the first time all key sectors rose in tandem since 1997, according to the World Silver Survey 2022, released by the Silver Institute. Surpassing pre-pandemic volumes, total global silver demand achieved its highest level since 2015, surging 19% to 1.05 billion ounces (Boz) last year. Leading
India’s Gold Imports Grew by 33.34%
Mumbai: India’s gold imports, which have a bearing on the country’s current account deficit (CAD), rose by 33.34 per cent to $46.14 bn during 2021-22 fiscal on account of higher demand, as indicated by official data. Gold imports were worth $34.62 bn in the fiscal year 2020-21. The surge in gold imports during the last monetary year added to the
PNG Jewellers Launches De Beers Code of Origin
Mumbai: The consumers of the future are changing and a new generation of socially and environmentally active consumers are emerging who want to increasingly associate with products and brands that have strong values focused around people and bettering the planet. To cater to such consumers, De Beers launched their trusted diamond program – Code of Origin at PNG Jewellers, a
Stéphane Fischler Re-Elected President of AWDC
Antwerp: On Wednesday June 25, during the first meeting of the new Board of Directors of the Antwerp World Diamond Centre (AWDC) the Board members reelected Stéphane Fischler as President of the AWDC. The Board of Directors also appointed Kaushik Mehta as Vice-President, representing the trade, and Freddy Inzlicht as Vice-President representing the Bourses. In 2012, the by-laws of the
No Assurance from India on Easing Gold Curbs
Mumbai: A delegation of diamond traders and representatives of Gems and Jewellery Export Promotion Council (GJEPC) met the Union Finance Minister, Arun Jaitley recently, demanding relaxation in various rules relating to gems and jewellery industry. The Finance Minister, however, remained reluctant to give any assurance on the existing gold import’s 80-20 rule, which allows only nominated agencies to import gold
Zimbabwe Running Diamond Sector like ‘Mafia’
Harare: Zimbabwean opposition politician Innocent Gonese has said that Zimbabwe’s ruling Zanu PF party needs to stop running the country’s diamond sector “like a mafia where everyone involved in the management of the gems is a thief.” The comments were made at a public forum organized by the Southern African Political and Economic Series (SAPES Trust) in Mutare, reported the
DGCX to Launch Spot Gold Contract
Dubai: Dubai Gold and Commodities Exchange (DGCX), a financial and commodity derivatives exchange is getting ready to launch a spot gold contract and a number of commodities, equity and currency derivative contracts between now and the end of the year, said Gary Anderson, CEO of DGCX in an interview with Gulf News. The exchange primarily focused on derivatives is all
