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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Reduction in Duty on Precious Metals Welcomed
Mumbai: India’s Finance Minister Mrs. Nirmala Sitharaman yesterday reduce the long awaited import duty on gold and silver from 12.5 to 7.5%. For platinum, the duty was reduced to 10%. The booster step to the already fumbling industry was whole heartedly welcomed by leaders. Ms. Vaishali Banerjee, Managing Director, Platinum Guild International (PGI) – India: “The Budget presented by the
Import Duty on Gold, Silver Reduced to 7.5%
New Delhi: The government of India on February 1 recommended reducing import duty on gold and silver to 7.5 percent, a move which would make the bullion metal and jewellery cheaper in the domestic market for the buyer. Finance Minister Mrs. Nirmala Sitharaman in her Budget speech said, “It is proposed to decrease custom duty on gold and other precious metals from
De Beers Reviews Promotion Guidance for 2021
Gaborone: De Beers has reset its production guidance for 2021 by 3%, blaming operational issues and lower output at its Venetia mine, in South Africa, rather than a Covid-related lack of demand. Its forecast is now down by a million carats at 32m to 34m carats, rather than the original 33m to 35m carats. Parent company Anglo American says in
GJEPC Holds Business Meeting with Oman
Mumbai: The Gem & Jewellery Export Promotion Council (GJEPC) organised a virtual business meeting with Oman on 28th January 2021 in order to connect jewellery manufacturers from India and leading retailers/wholesalers of Oman. Gracing the occasion were Ravi Shanker Goel, Second Secretary (Commerce) Indian Embassy in Muscat; Suresh Kumar, Joint Secretary Ministry of Commerce & Industry, Government of India; Nasser Ashraf
ALROSA and DDC Sign MoU
Las Vegas: ALROSA and Diamond Dealers Club of New York signed a Memorandum of Understanding (MoU) aimed to develop the diamond industries of Russia and the USA.The document was signed at an official ceremony in Las Vegas on 30 May by Reuven Kaufman, President of the DDC, and Alexander Malinin, Director of “Brillianty ALROSA” (ALROSA’s cutting and polishing division). The
Surat to Set Diamond Bourse in 2 Lakh Sq. Yards
Surat: Surat, known as a hub for processing of rough diamond is readying itself to set up a world class diamond bourse having trading facilities which will integrate processing and house all those interested in diamond business at one place, reports The Times of India. The proposed bourse may be of the size of the one existing in Mumbai. Mumbai’s
EGL Uncovers 4 Synthetics in Parcel of 20 Stones
Ramat Gan: In an unusual case, EGL International in Israel said it has discovered four synthetic diamonds in a parcel of 20 stones submitted by a long-time client, reports idexonline.com. The lab-grown diamonds were uncovered in the first phase of testing using FTIR infrared spectroscopy, said EGL International Managing Partner and CEO, Guy D. Benhamou, who added that the diamonds
Bitcoin Growing in Adoption
New York: The cyber currency bitcoin is seeing increasing adoption, said a May 31 panel on “Bitcoin and the Jewelry Industry: What You Need to Know.” “In terms of the world’s economic system, bitcoin is doing small numbers,” said the panel’s moderator Verichannel CEO Jacques Voorhees, whose son works for a bitcoin company. “But the adoption rate is soaring.” Some
