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 Is a Widening Gulf War Lifting Oil but Sinking Gold and Silver?
Macro Snapshot: The week ending 30 October brought the kind of news that once sent buyers into gold. Reuters reported the first known successful limpet-mine strike on a tanker in the Strait of Hormuz since the war began in February, and Houthi forces claimed strikes on Saudi refineries. Washington ordered non-emergency government staff out of Saudi Arabia amid reports that US strikes on Iran could resume after the 3 November midterm elections. Brent rose 13.6% over October, with the expiring
Why Is a Widening Gulf War Lifting Oil but Sinking Gold and Silver?
Macro Snapshot: The week ending 30 October brought the kind of news that once sent buyers into gold. Reuters reported the first known successful limpet-mine strike on a tanker in the Strait of Hormuz since the war began in February, and Houthi forces claimed strikes on Saudi refineries. Washington ordered non-emergency government staff out of Saudi Arabia amid reports that US strikes on Iran could resume after the 3 November midterm elections. Brent rose 13.6% over October, with the expiring
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YD Kicks-Off 1st Virtual World Diamond Congress
Antwerp: A lively meeting of the World Federation of Diamond Bourses (WFDB) Young Diamantaires (YD) group yesterday led the first day of meetings of the 39th World Diamond Congress. This was the first meeting of the YD held in the framework of a World Diamond Congress. The video meeting was attended by over one hundred YD members from around the
India's G&J Exports on Recovery Path
Mumbai: India’s gems and jewellery exports have shown signs of recovery and has registered at USD 1764.06 Million in August 2020, as compared to USD 36 Million in April 2020. The recovery is due to growth in demand for diamonds and jewellery in international markets like US, China, Europe etc. which have opened for trade. However, as compared with a
Surat Bounces back to Normalcy
Mumbai: Surat, the world’s leading cutting and polishing diamond manufacturing hub, is humming again. Despite the imposed restrictions due to the pandemic till sometime back, many leading manufacturers aren’t reporting any new Covid cases. Mr. Colin Shah, Chairman of India’s Gem and Jewellery Export Promotion Council (GJEPC) said, “Cut and polished diamonds are a major contributor to the overall India’s
New Natural Diamond Price Guide Launched
Tel Aviv: UNI Diamonds, a fintech company focused on building a global marketplace for diamonds, has announced a strategic relationship with a leading diamond price organisation and IDEX (International Diamond Exchange) to create the first fully-transparent and unbiased price guide for the natural polished diamond industry. The Diamond Price Guide provides up-to-date wholesale market prices guidance. It is based on
India May Restore Tax Benefits to Mfg SEZs
New Delhi: The Indian Government is examining the possibility of restoring tax benefits for a handful of manufacturing special economic zones, while continuing to tax the rest to minimize revenue losses, reports BusinessLine. “As exports from manufacturing SEZs, excluding gems & jewellery and petroleum, account for just 10 per cent of total SEZ exports, exempting them from taxes would not
PDE and IBGM Sign MOU
Panama: Brazil’s leading jewelry industry association, Instituto Brasileiro de Gemas e Metais Preciosos (IBGM), will be taking up residence in the Phase 1 building of the Panama Gem & Jewelry Center when it opens later this year. The announcement follows the signing of a Memorandum of Understanding between the Panama Diamond Exchange and IBGM in Sao Paulo during the Feninjer
New Gold Discovered in China
Beijing: Geologists have discovered a massive gold mine in China’s restive Xinjiang province, according to state news agency Xinhua. The new find, close to the border with Kyrgyzstan, has proven gold reserves of 127 tonnes, Xinhua said. If the estimates are correct, the reserves could be worth around 40 billion yuan ($6.5bn). The Xinjiang Geology and Mineral Exploration Bureau spent
Zimbabwe Can’t Wait For Annual Dividends
Harare: Zimbabwe will now collect its share of diamond revenue at the point of sale rather than wait for its Marange partners to remit dividends annually. Harare could have been prejudiced of millions of dollars from previous sales, The Herald newspaper reports. The government’s mining arm, Zimbabwe Mining Development Corporation (ZMDC) holds a 50 percent stake in firms mining gems
