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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'Get Diamonds' Takes the Industry by Storm
Antwerp: Just a month and a half after the World Federation of Diamond Bourses (WFDB) acquired the digital trading platform Get Diamonds from the Israel Diamond Institute, the platform has grown to become the world’s largest B2B diamond digital marketplace. Today the number of diamonds listed is over 1,200,000, with total value of over $5.5 billion, and the WFDB is
Israel Diamond Industry Gets back to Business
Ramat Gan: The Israel Diamond Exchange opened its Trading Floor once again on Sunday May 24, 2020 and declared a return to “normal” activity after being closed for two months due to a lockdown being declared by the Government. However, the Exchange said that from now on, the trading floor “will operate under a new format, in compliance with government
The 9th Forevermark Forum in Miami Goes Virtual
Mumbai: The Forevermark has announced that its 9th Forevermark Forum, scheduled to be held in Miami in March, will now be held virtual because of the COVID-19 outbreak. As a result of the ongoing crisis, and various restrictions imposed, the Forevermark went ahead to hold the event virtually. “In various interactive sessions throughout the day, the Virtual Forum addressed the
ALROSA Expects Reduced Rough Production
Moscow: The Strategic Planning Committee of ALROSA’s Supervisory Board reviewed options to cut spending and optimise production as proposed by the management and recommended that the management be guided by proposals envisaging lower output, the company said. According to preliminary estimates, when implementing measures to reduce production, ALROSA’s production in 2020 may reach 28-31 million carats compared to the initial
ALROSA Expects 5-Percent Growth in Rough Prices
Moscow: ALROSA expects that global rough prices will go up by 5% in 2014 over the last year, according to the ITAR-TASS report from St. Petersburg. This was disclosed to journalists on the sidelines of the St. Petersburg International Economic Forum by Fyodor Andreev, President of ALROSA. “We reckoned on a growth rate of 5%. I think it is achievable,”
Zimbabwe Orders Miners to Sell Gems through RBZ
Harare: The cash-strapped ruling ZANU PF government has issued an order to all diamond miners in the country to sell their gems through the Reserve Bank of Zimbabwe (RBZ). The permanent secretary in the Ministry of Mines, Francis Gudyanga, reportedly wrote a letter to the companies explaining that the central bank will use the diamonds to secure a government loan.
Antwerp Hosts WDC and KP Chair
Antwerp: The Antwerp World Diamond Centre (AWDC) welcomed the Kimberley Process (KP) Chair, His Excellency Wei Chuanzhong, Vice-Chair Bernardo Campos and the Mr. Edward Asscher, President of the World Diamond Council (WDC) for the purpose of renewing the Memorandum of Understanding (MoU) on the KP Administrative Support Mechanism (ASM). In 2012, the KP Plenary designated the World Diamond Council through
Barclays Fined $44 Million over Gold Fix
London: British authorities have fined Barclays, one of five banks that sets the price of gold each day in the London fix, nearly $44 million after a former trader improperly influenced the price-setting mechanism, reports jckonline.com. The British Financial Conduct Authority said that, in 2012, Daniel James Plunkett, a director on the bank’s precious metals desk, placed certain orders meant
