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
Indo-Russian Diamond-Ties Take a Giant Leap
Mumbai: In a historical development marking an important milestone in the relations between the Indian and Russian diamond industries, The Gem & Jewellery Export Promotion Council (GJEPC), India’s apex body representing the gems and jewellery export trade and PJSC ALROSA, Russia’s largest Diamond Mining company yesterday signed a Memorandum of Co-operation (MoC) in the presence of India’s Prime Minister,
WDM & Museum of Named Diamonds to Cooperate
Hong Kong: The World Diamond Mark Foundation (WDM) and the Museum of Named Diamonds (MoND) announced they will be joining forces to collect retailers’ stories about diamonds at the upcoming JCK Las Vegas show. The announcement comes on the heels of the WDM’s call on diamond and diamond jewellery retailers to meet the WDM team and share their special diamond
Indians Bought More Gold Than Americans in Q1
Mumbai: India may be far behind the US in terms of economy and per capita income, but when it comes to buying gold, Indians are far ahead of their American counterparts. During the first quarter (January-March, or Q1) this year, demand for gold jewellery was 92.3 tonnes in comparison to 22.9 tonnes in the world’s largest economy, according to World
Gahcho Kue Found Two Big Diamonds in April
Toronto: Mountain Province Diamonds Inc. reports an 84.65 carat diamond and a 53.90 carat stone were recovered from the Gahcho Kue diamond mine during April. The mining firm and its joint venture partner, De Beers Canada, bid for the production of fancy colored and special (+10.8 carat) diamonds on almost a monthly basis. The bid for April 2017 production of
ALROSA Expects 5-Percent Growth in Rough Prices
Moscow: ALROSA expects that global rough prices will go up by 5% in 2014 over the last year, according to the ITAR-TASS report from St. Petersburg. This was disclosed to journalists on the sidelines of the St. Petersburg International Economic Forum by Fyodor Andreev, President of ALROSA. “We reckoned on a growth rate of 5%. I think it is achievable,”
Zimbabwe Orders Miners to Sell Gems through RBZ
Harare: The cash-strapped ruling ZANU PF government has issued an order to all diamond miners in the country to sell their gems through the Reserve Bank of Zimbabwe (RBZ). The permanent secretary in the Ministry of Mines, Francis Gudyanga, reportedly wrote a letter to the companies explaining that the central bank will use the diamonds to secure a government loan.
Antwerp Hosts WDC and KP Chair
Antwerp: The Antwerp World Diamond Centre (AWDC) welcomed the Kimberley Process (KP) Chair, His Excellency Wei Chuanzhong, Vice-Chair Bernardo Campos and the Mr. Edward Asscher, President of the World Diamond Council (WDC) for the purpose of renewing the Memorandum of Understanding (MoU) on the KP Administrative Support Mechanism (ASM). In 2012, the KP Plenary designated the World Diamond Council through
Barclays Fined $44 Million over Gold Fix
London: British authorities have fined Barclays, one of five banks that sets the price of gold each day in the London fix, nearly $44 million after a former trader improperly influenced the price-setting mechanism, reports jckonline.com. The British Financial Conduct Authority said that, in 2012, Daniel James Plunkett, a director on the bank’s precious metals desk, placed certain orders meant
