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
PGI Hosted Business Forum
Hong Kong: In October, Platinum Guild International (PGI) hosted the two-day 2019 Platinum Jewellery Business Forum in China’s jewellery manufacturing hub of Shenzhen, which received widespread attention within the platinum and jewellery industry. The Business Forum was attended by leaders and distinguished guests from along with top figures and experts both from China and overseas. The theme for the forum
Surge in ETF Inflows Supports Q3 Gold Demand Growth
Mumbai: Global gold demand grew modestly to 1,107.9t in the third quarter of 2019, a rise of 3% on the same period last year, according to the World Gold Council’s latest Gold Demand Trends report. A surge in exchange-traded fund (ETF) inflows outweighed softer demand elsewhere in the market. Although central bank demand remained healthy, it was significantly lower than the record
ASDI Device by SSEF Achieves 100% Accuracy
Basel: The Automated Spectral Diamond Inspection (ASDI) device, an automated small synthetic diamond screener that was first released in 2014 by the Swiss Gemmological Institute SSEF, has been evaluated by the ASSURE Program of the Diamond Producers Association (DPA) and proved to be one the few instruments to have successfully passed 100% of the tests administered. This means that all stones categorised by the instrument as
Gemfields Partners with Gubelin Gem Lab
Mumbai: Gemfields is advancing the industry as the first company to offer coloured gemstones for sale complete with Gübelin’s Provenance Proof technologies, not only citing the gemstone’s place of origin, but also setting up an encrypted record of a gemstone’s journey as it changes hands from mine to consumer. At the end-of-year emerald and ruby auctions, several schedules of Gemfields’ high-value
Antwerp Extremely Satisfied with India-EU FTA
Antwerp: The recently concluded trade agreement between the European Union and India provides for a reduction of India’s import duty on naturally polished diamonds of European origin, from 5.5% to 2.5%. This tariff reduction is the result of intensive lobbying efforts by the Antwerp World Diamond Centre (AWDC), in close cooperation with the European Commission. The measure represents a new boost for the Antwerp diamond industry and strengthens Antwerp’s attractiveness as a polishing centre. The reduced tariff is expected to have a positive impact on exports from Antwerp to India. “We are extremely pleased with the outcome of the long-awaited trade agreement between Europe and India,” says Karen Rentmeesters, CEO of AWDC. “Thanks to AWDC’s intensive and sustained lobbying, in close cooperation with the European Commission, India’s import duty on polished diamonds has been reduced from 5.5% to 2.5%. This is an important boost for the Belgian diamond sector and is expected to have a positive impact on exports of Antwerp-polished diamonds to India. Moreover, this measure strengthens our competitiveness as a polishing center: diamonds polished in Europe will now be able to enter India at a more favourable tariff than before, and also compared to other major trading hubs. India is one of the fastest-growing consumer markets for jewelry and therefore also offers
BDB Pays Tribute on International Holocaust Remembrance Day
Mumbai: the Bharat Diamond Bourse (BDB) solemnly paid homage yesterday to the millions of Jewish lives brutally taken during World War II, marking International Holocaust Remembrance Day at the historic Keneseth Eliyahoo Synagogue in Mumbai. This global day of remembrance commemorates the liberation of Auschwitz- Birkenau and honors the memory of the six million Jews and countless others who were
India Should Focus on Incremental Changes in KP
Mumbai (By Suresh Chotai): More than two decades after the Kimberley Process (KP) was born, the diamond industry still faces an uncomfortable truth: the global system designed to keep “Conflict diamonds” out of the market is stuck in the past. The Kimberley Process defines conflict diamonds narrowly—stones used by rebel movements to finance wars against legitimate governments. That definition made
EU Eliminates Duty on Indian G&J Imports
Mumbai: India’s Gem & Jewellery Export Promotion Council (GJEPC) has welcomed the elimination of import duties on Indian gem and jewellery products under the India-EU Free Trade Agreement (FTA). This removes 2-4% duties on precious jewellery, unleashing huge export potential with the 27-member EU bloc—home to the world’s elite buyers. India’s gem and jewellery (G&J) exports accounted for USD 30
