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
Resource Estimate Drops for Argyle Mine
Perth: Rio Tinto has lowered its estimate of the mineral resources available at its Argyle diamond mine in Australia, as the company reconsiders its plans to extend the project. Estimated mineral resources fell 66 percent to 15 million tonnes in 2016, compared with the previous year, the miner said in a statement last week. Mineral resources are the quantity of
Negative Outlook for India’s CPD Exporters: Ind-Ra
Mumbai: India Ratings and Research (Ind-Ra) has maintained a stable outlook on organised jewellery retailers and a negative outlook on cut and polished diamond (CPD) exporters for FY18. As per World Gold Council (WGC), India’s gold jewellery demand fell sharply 22% yoy to reach a seven-year low in 2016 (522MT). The demand was impacted severely on account of various one-off
WPIC Plans Platinum ETF in China
Mumbai: The World Platinum Investment Council (WPIC) plans to launch an exchange-traded fund (ETF) in China, the world’s biggest consumer of the precious metal, and a coin-based fund in Europe in 2017, an executive of the council said on Wednesday. “We are working on two deals in China for investment products. ETF and retail platinum bars with a big state-run
JNA Awards 2017 Now Accepting Entries
Hong Kong: The JNA Awards, one of the world’s most prestigious awards in the jewellery and gemstone industry, is now calling for entries for its sixth edition. Organised by JNA, the annual JNA Awards is set to further advance and propel Asia’s jewellery and gemstone sector by recognising and honouring companies and individuals that have exhibited innovation, excellence, best business
India Hikes Import Tariff Value on Gold, Silver
New Delhi: The Indian government yesterday hiked import tariff value on gold and silver to USD 411 per 10 grams and USD 632 per kg as global prices have increased in the wake of escalating violence in Iraq. In the first fortnight of this month, tariff value on imported gold stood at USD 408 per 10 grams and silver at
De Beers June Sight Estimated at $640M
Gaborone: The De Beers June sight closed with an estimated value of $640 million as demand for rough diamonds remained firm. Prices and assortments were largely unchanged from the previous sight, although sightholders reported minor price adjustments on select boxes. There was ex-plan supplied – rough in excess of sightholders’ initial application for goods – as demand rose during sight
Zimbabwe's Proposed Marange Restructuring Stalled
Harare: Marange diamond miner Anjin Investments Ltd. has reportedly stalled the Zimbabwe government’s intended consolidation of Marange diamond companies. As of last week, Anjin’s top management, which recently visited Zimbabwe from China, was yet to meet with officials from the mines ministry to finalize evaluations of company’s operations. The ministry had originally projected briefing Anjin chairperson Jiang Qingder on the
Belgian Politician Warns Against Diamond Sanctions
Antwerp: The 36th World Diamond Congress (WDC) has opened in Antwerp, with Minister-President of Flanders, Kris Peeters, warning of the “catastrophic” impact that sanctions relating to the diamond industry could have. The Congress is the bi-annual meeting of the World Federation of Diamond Bourses (WFDB) and the International Diamond Manufacturers Association (IDMA). Talking of the huge role of the diamond
