We Wish to Build Globally Relevant SKY Gold: Akash Talesara
Israel’s Diamond Industry Under Severe Pressure
Did Natural Diamond Ind. Misjudge LGD Threat?
Why Did Gold & Silver Break Down Just as Fed Hike Bets Faded
Macro Snapshot: The rate backdrop eased during the week ending 23 October, which makes the metals’ slide harder to explain. CME FedWatch odds of a hike at the 27 to 28 October FOMC meeting had settled near one in three on 14 October, after the 3.7% September CPI print, and stood at 9.4% by 23 October. December hike odds slipped from about 90% to close to 80%. The 10-year Treasury yield closed at 5.00% against 5.09% a week earlier, and
Why Did Gold & Silver Break Down Just as Fed Hike Bets Faded
Macro Snapshot: The rate backdrop eased during the week ending 23 October, which makes the metals’ slide harder to explain. CME FedWatch odds of a hike at the 27 to 28 October FOMC meeting had settled near one in three on 14 October, after the 3.7% September CPI print, and stood at 9.4% by 23 October. December hike odds slipped from about 90% to close to 80%. The 10-year Treasury yield closed at 5.00% against 5.09% a week earlier, and
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Platinum Season of Hope Aims to Boost Demand
Mumbai: Following the success of its first edition in 2020, Platinum Guild International (PGI) brings back its month-long retail initiative, Platinum Season of Hope, from 8th October 2021 – 7th November 2021. As consumers transition into the new normal, once again, there is renewed vigor for marking those special moments in life. The festive and wedding season are expected to
IIJS 2021 Generates Business of $ 6.75 Billion
Mumbai: In more ways than one, the 37th edition of IIJS Premiere 2021, the flagship trade show held in Bengaluru by India’s Gem & Jewellery Export Promotion Council (GJEPC), revived the moribund economy, not just that of the gems and jewellery sector, but all the peripheral sectors associated with the organising of the show, including transport, hotels, retail, and restaurants.
Reena Ahluwalia Donates Painting for Charity
Royal Oak: Roger Dery of Roger Dery Gem Design is celebrating his 40th year in business and 40th visit to the African continent with a charity raffle donating 100% of the proceeds to Gem Legacy, a 501c3 nonprofit dedicated to kids, education, and entrepreneurship initiatives in East African colored gemstone mining communities. Roger reached out to Reena to create a
GJSCI Shifts to New Office
Mumbai: The new office of Gem & Jewellery Skill Council of India’s (GJSCI) was inaugurated by Hon’ble Mr. Piyush Goyal, Minister of Commerce & Industry, Consumer Affairs & Food & Public Distribution and Textiles, Government of India, on 23rd September 2021. GJSCI moved into a bigger office space in the same building, Business Facilitation Centre, SEZ, SEEPZ, from the 3rd
Antwerp Extremely Satisfied with India-EU FTA
Antwerp: The recently concluded trade agreement between the European Union and India provides for a reduction of India’s import duty on naturally polished diamonds of European origin, from 5.5% to 2.5%. This tariff reduction is the result of intensive lobbying efforts by the Antwerp World Diamond Centre (AWDC), in close cooperation with the European Commission. The measure represents a new boost for the Antwerp diamond industry and strengthens Antwerp’s attractiveness as a polishing centre. The reduced tariff is expected to have a positive impact on exports from Antwerp to India. “We are extremely pleased with the outcome of the long-awaited trade agreement between Europe and India,” says Karen Rentmeesters, CEO of AWDC. “Thanks to AWDC’s intensive and sustained lobbying, in close cooperation with the European Commission, India’s import duty on polished diamonds has been reduced from 5.5% to 2.5%. This is an important boost for the Belgian diamond sector and is expected to have a positive impact on exports of Antwerp-polished diamonds to India. Moreover, this measure strengthens our competitiveness as a polishing center: diamonds polished in Europe will now be able to enter India at a more favourable tariff than before, and also compared to other major trading hubs. India is one of the fastest-growing consumer markets for jewelry and therefore also offers
BDB Pays Tribute on International Holocaust Remembrance Day
Mumbai: the Bharat Diamond Bourse (BDB) solemnly paid homage yesterday to the millions of Jewish lives brutally taken during World War II, marking International Holocaust Remembrance Day at the historic Keneseth Eliyahoo Synagogue in Mumbai. This global day of remembrance commemorates the liberation of Auschwitz- Birkenau and honors the memory of the six million Jews and countless others who were
India Should Focus on Incremental Changes in KP
Mumbai (By Suresh Chotai): More than two decades after the Kimberley Process (KP) was born, the diamond industry still faces an uncomfortable truth: the global system designed to keep “Conflict diamonds” out of the market is stuck in the past. The Kimberley Process defines conflict diamonds narrowly—stones used by rebel movements to finance wars against legitimate governments. That definition made
EU Eliminates Duty on Indian G&J Imports
Mumbai: India’s Gem & Jewellery Export Promotion Council (GJEPC) has welcomed the elimination of import duties on Indian gem and jewellery products under the India-EU Free Trade Agreement (FTA). This removes 2-4% duties on precious jewellery, unleashing huge export potential with the 27-member EU bloc—home to the world’s elite buyers. India’s gem and jewellery (G&J) exports accounted for USD 30
