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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Israeli Diamond Trade Sees Rapid Recovery in 2021
Ramat Gan: The Israeli diamond industry (IDI) showed an impressive recovery during 2021, and even surpassed the figures for 2019, according to import and export data published by the Israel Diamond Controller of the Ministry of Economy and Industry. During 2021, net polished diamond exports totalled $3.65 billion, an increase of 54% compared to 2020, and 7.5% compared to 2019.
CIBJO General Assembly in Vicenza Postponed
Milan: CIBJO, the World Jewellery Confederation, has announced that the gathering of its General Assembly, which had been scheduled to take place in Vicenza, Italy, on January 24 and 25, has been postponed to Thursday, March 17, and Friday, March 18. It will be held at the same venue. The announcement comes after the Italian Exhibition Group (IEG), which will
New Method of Setting Diamonds Invented
Saskatoon (Canada): A diamond cutter based in Prince Albert believes he has developed a new method of setting diamonds that will revolutionize the jewellery industry, according to a report published in ckom.com. Ten years ago, Mike Botha and New Zealand jeweller Ian Douglas set out to develop a new design to hold solitaire diamonds without the use of prongs and
IIJS Signature 2022 is Postponed
Mumbai: Owing to the prevailing pandemic scenario in India, the IIJS Signature show scheduled from January 6- 9, 2022 at the Jio World Convention Centre, Mumbai has been postponed. A communique issued by India’s Gem & Jewellery Export Promotion Council (GJEPC) says that the Council has in place all requisite permissions to organise the show following Covid appropriate guidelines, Based
Israel Exchange to Create Code of Ethics
Ramat Gan: In what appears to be a ground-breaking move for a diamond bourse, the Israel Diamond Exchange (IDE) has begun moves to create a code of ethics by which its members would be expected to operate. At a meeting at the bourse, IDE President Shmuel Schnitzer and management members discussed the creation of such a code with Israeli experts
China’s Jewellery Sales Accounted for 41%
Beijing: Mainland China is a major jewellery consumer in the world. According to the recently released China Jewellery Industry Report, 2013-2016, last year jewellery sales in Chinese Mainland approximated $75.8 billion, which is equivalent to 41.2 % of the global consumption. In Mainland China, the gold jewelry consumption accounts for about 50% of the total jewellery consumption. In 2013, two
Gold Smuggling in India May Fall to 50 Tonnes
Mumbai: Going by the seizures of gold which has increased four times in 2013-14, intelligence agencies have estimated gold smuggled in the country around 50 tonnes in 2013-14 which is way lower from the estimated by the World Gold Council (WGC), reports The Business Standard. WGC had estimated nearly 200 tonnes of gold entered India unofficially. Trade circles have been
India May not fully Withdraw Gold Curbs
New Delhi: Despite a significant reduction in the current account deficit, curbs on gold imports are unlikely to be fully removed this Budget. Instead, the finance ministry may lower the import duty on the precious metal by two per cent, reports The Indian Express. “The current account deficit situation is still being closely monitored. The curb on gold imports was
