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
Top News
Recycling or Sale of Old Gold Jewellery to Attract GST
New Delhi: The sale of old jewellery, whether for the purposes of buying new jewellery or not, will attract GST, the revenue secretary of the central government, Dr. Hasmukh Adhia has clarified. He was speaking at ‘GST ki Master Class’, a series of sessions broadcast live on government TV and radio channels, where a team of experts clarified issues
Tiny Man-Made Stones Uncovered in New York Lab
Hong Kong: Multiple single-cut diamonds, sized from a quarter point to half a point (0.0025-0.005 carats), which were contained in jewellery recently submitted for testing to a Diamond Services laboratory, have been found to be synthetic, greatly expanding the range of goods that can be considered at risk of improper and deceptive disclosure. The jewellery in question was originally submitted
FATF Warns against Business with Iran, North Korea
New York: The Financial Action Task Force (FATF) has issued a list of nine countries that it says are not taking sufficient measures to combat money laundering and terrorist financing. The intergovernmental group, which aims to protect the global financial system from those activities, recently identified Iran and North Korea as high-risk enough to warrant a “call to action.” This
ALROSA Sells Diamonds Worth $365 Million in June
Moscow: ALROSA has announced its rough and polished diamond sales results for June and the first half of 2017. In June 2017, ALROSA Group sold USD 365 million worth of rough and polished diamonds. Rough diamond sales by value amounted to USD 354.4 million, polished diamond sales – USD 10.6 million. In January–June 2017, ALROSA’s rough and polished diamond sales
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
Grown Diamonds Gaining Popularity
New York: According to a recent press release by Frost & Sullivan consultancy, there is positive consumer outlook for grown diamonds, but challenging supply side factors restrain their market potential. Demand for colorless diamonds in value and volume terms is higher than any other color of diamond in the gems and jewellery industry. One of the key factors that prevented
Inaugural Ruby Auction Nets $33.5m – Gemfields
Johannesburg: The inaugural auction of rough ruby and corundum mined at Aim-listed Gemfields’ 75%-owned Montepuez deposit, in Mozambique, has raised $33.5-million, taking the coloured-gemstones mining and marketing company’s overall revenue for rough gemstone sales to in excess of $143-million for the current financial year. The auction, held in Singapore from June 12 to 17, had included both high- and low-quality
GJEPC Demands Relaxations from Govt.
Mumbai: The Gems and Jewellery Export Promotion Council (GJEPC) has urged the government to reduce import duty on gold and silver to 2 per cent from 10 per cent. An official News Release received by this website says that the body has also demanded for scrapping the existing 80:20 scheme, which was imposed by the government in August last year,
