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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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
RBI's Credit Limit Troubles Diamond Units
Surat: At least 350 small and medium diamond companies in the world’s biggest diamond cutting and polishing centre in Surat are facing severe financial problems with Indian banks strictly implementing the 90 days credit limit for overseas payment to rough diamond dealers in Antwerp and Dubai for the past four months, reports The Times of India. The Gem and Jewellery
India Eyes Direct Diamond Tie-Ups with Russia
Mumbai: With the threat of US economic sanctions on Russia hanging like a Damocles sword, India’s gem and jewellery industry is gearing to establish direct contacts with Russia, to source rough diamonds, reports Business Line. Supply of roughs from Russia to Dubai and Belgium could be severely impacted if the US imposes economic sanctions on Russia, say exporters. Currently, the
Platinum Prices Slide despite Stalled Strike Deal
Johannesburg: Despite a broad rally in metals prices, PGM futures trading in New York pulled back on Friday despite a fresh impasse in strike negotiations in South Africa. Palladium futures trading on Nymex gave up more than 2% or $17 an ounce on Friday day to trade at $822.50 an ounce, while platinum contracts fell 1.1% or $16 an ounce
Ernest Blom Re-Elected as WFDB President
Antwerp: Ernest Blom, current president of the World Federation of Diamond Bourses (WFDB), was re-elected for another two-year period unopposed during the first working session of this week’s 36th World Diamond Congress in Antwerp. The following people were also elected: Julien Drybooms as WFDB Vice President; Rony Unterman as WFDB Secretary-General and Michel Schonfeld as Deputy Secretary-General; Dieter Hahn as
