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
Top News
Rio Tinto Introduces COVID-19 Testing at Diavik Mine
Perth: As an extra precautionary measure to protect employees and community members, Rio Tinto is introducing COVID-19 testing at its Diavik diamond mine in Northwest Territories, Canada. Not for profit public health experts GuardRX have installed an on-site laboratory at Diavik to conduct a testing program for employees and contractors using nasopharyngeal swabs. The program is being implemented in collaboration
Banks Reluctant to Finance Belgian Diamond Sector
Antwerp: Banks in Belgium are reluctant to extend vital loans to help diamond firms survive coronavirus. The Antwerp World Diamond Centre (AWDC), representing 1,600 companies, claims banks are turning down applicants who clearly qualify for a financial lifeline. The banks agreed a $55bn emergency loans policy with the Belgian government early on in the COVID-19 crisis. But
Members of ZCDC Board Resign en masse
Harare: Zimbabwe Consolidated Diamond Company (ZCDC) board members have resigned en masse in protest against parent ministry decision and modus operandi. Amongst other issues was government’s decision to grant mining licenses to foreign companies without consultation. According to 263chat, the board, led by Engineer Ukama is allegedly livid that while Zimbabwe has lost billions in revenue from diamonds, government intends
Baselworld Cancels Jan 2021 Show
Basel: The MCH Group, organiser of Baselworld has decided to cancel the show scheduled from Jan 28 to Feb 2, 2021 after reaching an agreement with representatives of the exhibitors at the show regarding the settlement for the cancelled 2020 edition. The amicable solution has been drawn up in collaboration with the Swiss Exhibitors’ Committee and is unanimously approved by
AWDC Participates in the Mine Entra Fair
Antwerp: The Antwerp World Diamond Centre (AWDC), the world leader in diamond trade, participates in the Mine Entra exhibition in Zimbabwe for the first time. “Now that the European sanctions are lifted, the way is open for intensive collaboration between Zimbabwe and the main commercial center for diamonds,” said Ari Epstein, CEO of the Antwerp World Diamond Centre. 84% of
Pangolin Recovers White Macro-Diamond
Gaborone: Pangolin Diamonds has recovered a white macro-diamond weighing 0.005484 carats from a soil sample on its recently acquired Malatswae project prospecting licence PL247/2014, in Botswana. It said in a statement that a field team was now on site collecting follow-up samples on a close-spaced grid to help determine the significance of this discovery. The Malatswae kimberlite project was located
De Beers July Sight Estimated at $775M
Gaborone: The De Beers July sight closed with an estimated value of $775 million. De Beers reportedly raised prices slightly on most goods by 1 percent to 2 percent with sharper hikes in the prices of smaller and lower-quality diamonds. Sightholders noted that De Beers also changed the assortment in its presentation, which partially offset the higher prices of its
RBI Relaxes Ceiling on Loans against Gold
Mumbai: The Reserve Bank of India has relaxed the Rs 1-lakh ceiling on loans for nonagricultural purposes against pledged gold and has left it to individual banks to decide on a lending cap. “Banks, as per their board-approved policy, may decide upon the ceiling with regard to the quantum of loans that may be granted against the pledge of gold
