We Wish to Build Globally Relevant SKY Gold: Akash Talesara
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Why Did Gold & Silver Break Down Just as Fed Hike Bets Faded
Macro Snapshot: The rate backdrop eased during the week ending 23 October, which makes the metals’ slide harder to explain. CME FedWatch odds of a hike at the 27 to 28 October FOMC meeting had settled near one in three on 14 October, after the 3.7% September CPI print, and stood at 9.4% by 23 October. December hike odds slipped from about 90% to close to 80%. The 10-year Treasury yield closed at 5.00% against 5.09% a week earlier, and
Why Did Gold & Silver Break Down Just as Fed Hike Bets Faded
Macro Snapshot: The rate backdrop eased during the week ending 23 October, which makes the metals’ slide harder to explain. CME FedWatch odds of a hike at the 27 to 28 October FOMC meeting had settled near one in three on 14 October, after the 3.7% September CPI print, and stood at 9.4% by 23 October. December hike odds slipped from about 90% to close to 80%. The 10-year Treasury yield closed at 5.00% against 5.09% a week earlier, and
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TDC to Prevent Bankrupt Co. from Doing Business
Mumbai: The Trade Disciplinary Committee (TDC) set up jointly by The Gem & Jewellery Export Promotion Council (GJEPC), the Bharat Diamond Bourse (BDB) and the Mumbai Diamond Merchants’ Association (MDMA), has issued a circular for members of the respective organisations intimating them that action will be taken against entities which have declared bankruptcy/insolvency, and continue to conduct business through another
Domestic Council for G&J Sector on 31st Jan
New Delhi: A meeting was held with the Director General of DGFT in New Delhi, where several representatives from the gems and jewellery sector joined to meet and discuss on the structure of the domestic council for the gems and jewellery sector. It was decided in the meeting to form the council and make an announcement about the same on
New Synthetic Diamond Venture to be Launched
Toronto: The former chief executive of the world’s third-largest diamond miner is launching a company making lab-grown diamonds, in the latest challenge to the mining industry from man-made stones. Patrick Evans, who left Canada’s Dominion Diamond in December, will pick a location in the US with access to cheap solar power to produce lab-grown diamonds targeting the bridal market. The
GJEPC to Issue Parichay Cards for Artisans
Kolkata: India’s Gem & Jewellery Export Promotion Council (GJEPC) has introduced Parichay Cards (Identity cards) for artisans in West Bengal which will be rolled out soon nationally. The GJEPC is holding advanced talks with the ministry of skill development and entrepreneurship (MoSDE) for national classification of gem & jewellery sector workers/ craftsmen under LMIS (Labour Management Information Systems). This segment-wise
Construction of India Jewellery Park, Mumbai Begins
Navi Mumbai: The Gem & Jewellery Export Promotion Council (GJEPC) yesterday marked a historic milestone in the development of India Jewellery Park Mumbai (IJPM) with the commencement of construction at Mahape, Navi Mumbai. The ceremony marks the transition of this long-cherished industry vision into the construction phase, bringing India’s ambition to establish a world-class, integrated jewellery manufacturing hub a significant
Qatar Diamond Exchange Broadens Asian Presence
Doha: The Qatar Diamond Exchange (QDE) has signed a Memorandum of Understanding (MoU) with the Diamond Federation of Hong Kong, China (DFHK), establishing a strategic partnership between the two organizations. The agreement was formalized in Hong Kong by Ghanim Al-Saadi, Director of the Qatar Diamond Exchange, and Lawrence Ma, President of DFHK. Founded in 2000, DFHK represents Hong Kong’s diamond
Diamonds for Development Fund Receives Initial Funding
Gaborone: The Government of the Republic of Botswana and De Beers Group yesterday announced that De Beers Group has transferred its initial contribution of BWP1 billion to the Diamond for Development Fund, marking a major milestone in the progress of the Fund and its mandate to support Botswana’s long-term economic diversification. The disbursement follows the establishment of the Fund’s governance
De Beers Reports Lower Q3 Output
London: De Beers reported an 11% year-on-year decrease in rough diamond production to 6.8-million carats for the quarter ended September 30, primarily driven by planned plant maintenance at Orapa, in Botswana, and a slowdown at Venetia, in South Africa, ahead of a planned two-year production pause. Operational Performance: De Beers notes that rough diamond production was 11% lower at 6.8
