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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India Jewellery Park Mumbai: Invest For a Bright Future
Mumbai: India Jewellery Park Mumbai (IJPM) is a Special Purpose Vehicle (SPV) and wholly-owned subsidiary of the Gem & Jewellery Export Promotion Council (GJEPC). The objective of IJPM is to develop, promote and operate a Jewellery Park in Mumbai – to continue driving India’s export led-growth and improve the quantity and quality of gems and jewellery produced in India. IJPM
Antwerp Diamonds Shine Again
Antwerp: The Antwerp World Diamond Centre (AWDC), the official representative of the Antwerp diamond industry, can close 2021 as the year of the comeback. With $37.23 billion in imports and exports of traded diamonds, the Belgian diamond sector is doing slightly better than in 2019, the year before the pandemic. But the Antwerp diamond sector wants above all to prepare
Fancy Colour Diamonds See Steady Price Growth in '21
New York: The Fancy Color Research Foundation (FCRF) said the year 2021 showed a rise in the price of 89% of all fancy colour categories. Price changes among all 128 categories tracked by the Fancy Color Diamonds Price Index ranged from -1.3% to +7.9%, with the average change in 2021 being a price increase of 1.7%. The average price of
De Beers Cycle 1 Fetches USD 660 mln.
Gaborone: De Beers’ first sales cycle of 2022 saw robust demand totalling $660 million, which was almost at the same level as $663 million recorded a year ago. Bruce Cleaver, CEO, De Beers Group, said, “As anticipated, there was strong growth in consumer demand for diamond jewellery over the end of year holiday season. As a result, we saw the
De Beers July Sight Estimated at $775M
Gaborone: The De Beers July sight closed with an estimated value of $775 million. De Beers reportedly raised prices slightly on most goods by 1 percent to 2 percent with sharper hikes in the prices of smaller and lower-quality diamonds. Sightholders noted that De Beers also changed the assortment in its presentation, which partially offset the higher prices of its
RBI Relaxes Ceiling on Loans against Gold
Mumbai: The Reserve Bank of India has relaxed the Rs 1-lakh ceiling on loans for nonagricultural purposes against pledged gold and has left it to individual banks to decide on a lending cap. “Banks, as per their board-approved policy, may decide upon the ceiling with regard to the quantum of loans that may be granted against the pledge of gold
De Beers Announces Model for Rough Allocations
Gaborone: The De Beers Group of Companies yesterday announced its updated model for the allocation of rough diamonds by Global Sightholder Sales (GSS) in respect of the March 2015–March 2018 contractual period. Around 90% of De Beers’ total rough diamond availability by value is sold through GSS. The updated allocations model will involve a new method for determining GSS’s rough
Global Diamond Production +11% to $14B in 2013
Gaborone: Global diamond production by value rose 11 percent year on year to $14.09 billion in 2013, due mainly to an increase in the average price of rough diamonds, according to annual data published by the Kimberley Process Certification Scheme. By volume, global production increased 2 percent to 130.48 million carats, while the average price of production grew 9 percent
