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
Angola Has Billion Carats Diamond Reserves
Moscow: Alrosa said a geological research carried out by Angolan and Russian geologists in Angola over the last five years has shown that the country’s diamond reserves are estimated at 1 billion carats. Company deputy director of the geological prospecting unit Victor Ustinov was quoted by Macauhub as saying that more than 950 million carats of the diamond reserves were
Global Diamond Production Down in 2016
Johannesburg: Global rough-diamond production fell by value for the second consecutive year as output declined in the two largest producer countries, according to data the Kimberley Process (KP) released Tuesday. The total value of rough diamonds extracted in 2016 dropped 11% to $12.4 billion from $13.88 billion the previous year, the figures showed. And while production volume grew 5% to
ALROSA Appoints Director for Vladivostok
Moscow: Alexey Ivanov is a new head of ALROSA branch in Vladivostok. He will be in charge of the branch business development, search for new clients and the Company’s expansion at the platform of the Eurasian Diamond Center (EDC). Alexey Ivanov has an extensive experience in the diamond business. In previous years, he was the head of Arcos Diamonds Israel
DDE’s Biennial Conference Taking Place in October
Dubai: The Dubai Diamond Exchange (DDE) has announced the third edition of its biennial two-day Dubai Diamond Conference 2017, with the theme ‘Destination Next – Shaping the future of an interconnected marketplace’. Ahmed Bin Sulayem, Executive Chairman, DMCC (Dubai Multi Commodities Centre), said, “Dubai has evolved rapidly as one of the world’s leading trading centers for rough diamonds and we
DDE’s Peter Meeus Hits Back at PAC Claims
Dubai: Dubai Diamond Exchange Chairman Peter Meeus replied to what he called “serious allegations” made by Partnership Africa Canada about Dubai at the Kimberley Process (KP) Intersessional meeting taking place in Shanghai. “First of all we were surprised to see that Mr. Martin quoted an FAFT (Financial Action Task Force) report on ML/TF (Money Laundering/Terrorism Financing) of 150 pages in
Israel Exchange to Create Code of Ethics
Ramat Gan: In what appears to be a ground-breaking move for a diamond bourse, the Israel Diamond Exchange (IDE) has begun moves to create a code of ethics by which its members would be expected to operate. At a meeting at the bourse, IDE President Shmuel Schnitzer and management members discussed the creation of such a code with Israeli experts
China’s Jewellery Sales Accounted for 41%
Beijing: Mainland China is a major jewellery consumer in the world. According to the recently released China Jewellery Industry Report, 2013-2016, last year jewellery sales in Chinese Mainland approximated $75.8 billion, which is equivalent to 41.2 % of the global consumption. In Mainland China, the gold jewelry consumption accounts for about 50% of the total jewellery consumption. In 2013, two
Gold Smuggling in India May Fall to 50 Tonnes
Mumbai: Going by the seizures of gold which has increased four times in 2013-14, intelligence agencies have estimated gold smuggled in the country around 50 tonnes in 2013-14 which is way lower from the estimated by the World Gold Council (WGC), reports The Business Standard. WGC had estimated nearly 200 tonnes of gold entered India unofficially. Trade circles have been
