We Wish to Build Globally Relevant SKY Gold: Akash Talesara
Israel’s Diamond Industry Under Severe Pressure
Did Natural Diamond Ind. Misjudge LGD Threat?
With December Hike Odds Intact, Can a Midterm Rally Repair Gold, Silver’s Breakdowns?
Macro Snapshot: Gold posted its best week since late August, but it got there on rate relief that had disappeared by Friday. COMEX gold rose 4.5% to $4,074.9 and silver 5.4% to $51.94 while cheaper oil pushed the odds of a December Fed hike down from about 71% on 30 October to 64% ahead of Friday’s payrolls, according to CME FedWatch readings reported by Benzinga and Reuters. The jobs data sent the odds back up to 74.8%, CNBC reported, a
With December Hike Odds Intact, Can a Midterm Rally Repair Gold, Silver’s Breakdowns?
Macro Snapshot: Gold posted its best week since late August, but it got there on rate relief that had disappeared by Friday. COMEX gold rose 4.5% to $4,074.9 and silver 5.4% to $51.94 while cheaper oil pushed the odds of a December Fed hike down from about 71% on 30 October to 64% ahead of Friday’s payrolls, according to CME FedWatch readings reported by Benzinga and Reuters. The jobs data sent the odds back up to 74.8%, CNBC reported, a
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India’s G&J Exports Fell by 83% in April-May 2020
Mumbai: India’s gross exports of gems and jewellery (G&J) during the months of April and May 2020 dipped significantly to US$ 572.18 million, down 83.68% as compared to the same months a year earlier, according to provisional data released by The Gem & Jewellery Export Promotion Council (GJEPC). The slump, as a result of the total closure of all manufacturing
Sodiam Records Net Profit of $27,1 mln in 2019
Luanda: Sodiam, the National Diamond Trading Company of Angola recorded a net profit of US$27,1 million in 2019, despite the worldwide decline registered in the diamond market.Sodiam underlines that last year the company saw its operating costs drop by 17%, maintaining the trend started in 2018, while its tax contribution increased by around 21%. The company’s management considers that the
Doyen of Indian Diamond Ind. Arun Mehta Passes Away
Mumbai: Shri Arun R. Mehta, an industry stalwart and highly respected community leader passed away today. He was a guiding force and mentor to many. He was 80 and is survived by his wife Rajnika, son Russell and daughters Amita Samir Mehta and Alpa Nishit Kothari, his daughter in law Mona, and sons in law Samir Mehta and Nishit Kothari,
Malca-Amit Becomes Associate Member of WFDB
Antwerp: Malca-Amit, a leading international logistics and shipping company serving the diamond, jewelry and watch industries, has joined the World Federation of Diamond Bourses (WFDB) as an Associate Member, it was announced today. This is in keeping with the new WFDB effort to add leading organizations in the global diamond and jewelry industries to its ranks. The WFDB, which was
Russia's Rough Exports Increased by 21.5% in 1Q
Moscow: Russia’s natural rough diamond exports increased 21.5 percent on the year to 12.01 million carats in the period from January to March, the Finance Ministry said on Monday. Diamond imports dropped 2.6 times in carat terms to 8,040 carats. In monetary terms, Russia’s diamond exports rose 20.6 percent to $1.41 billion while imports halved to $16.5 million, PRIME reports.
Raise Import Payment Credit to 180 Days: GJEPC
New Delhi: With expectations running high from the first budget of the Narendra Modi government at the Centre, a delegation of diamond traders and representatives of Gems and Jewellery Export Promotion Council (GJEPC) today met the Union Finance Minister, Arun Jaitley in New Delhi demanding relaxation in various rules relating to gems and jewellery industry. However, gold importers may feel
Suresh Shah New VP of IDMA
Antwerp: With the wrap-up of the 36th World Diamond Congress, the International Diamond Manufacturers’ Association (IDMA) concluded its meetings with the election of its officers. Maxim Shkadov was unanimously re-elected for a second term as IDMA President and Ronnie VanderLinden and Stephane Fischler were re-elected as Secretary General and Treasurer, respectively. IDMA Vice President Edward Asscher, who was recently elected
Gold-Silver Price-Setting Methods May Change
London: The decades-old methods for determining the daily benchmark prices for gold and silver seem set to change—the result of unwelcome attention from regulators and class-action lawsuits. Currently, the price of both metals is set at a daily teleconference by a number of prominent multinational banks—four in the case of gold, and three in the case of silver. However, the
