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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
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India's Jewellery Exports to UAE Decline 56% in Jan
Mumbai: India’s gold jewellery exports to the United Arab Emirates (UAE) declined by a massive 56 per cent in January 2017 due to a 5 per cent import duty levied by the local government there. Data compiled by the apex representative body, the Gems and Jewellery Export Promotion Council (GJEPC), showed India’s gold jewellery exports to the UAE at $148.1
Demonetization Brought Good Results for India
New Delhi: Buoyed by encouraging GDP growth figures released by the Central Statistics Office (CSO) which showed demonetisation did not cause the kind of damage predicted by his rivals and critics, India’s Prime Minister Mr. Narendra Modi on Wednesday defended his decision, and said that “hard work has won over Harvard-educated economists, who had predicted otherwise”. “Well-known intellectuals from Harvard
China to Close 150 Gold Mines by 2020
Beijing: China’s official news agency Xinhua is reporting that the country is set increase annual gold output to 500 tonnes by the end of the decade from around 450 tonnes currently. China overtook South Africa as the number one miner of the metal in 2007. China’s Ministry of Industry and Information Technology (MIIT) expects gold output to grow by an
ORRA Launches Customized Jewellery Shoppe
Mumbai: This Women’s Day, ORRA presents custom crafted jewellery for women, an ode to their beautiful and unique choices, making them who they are! To make this women’s day special and like no other, ORRA presents a specially curated range of rings, earrings and pendants, where customers can choose from a host of designs exactly how they would like their
GJEPC Urges RBI to Ease Banking Norms to Boost G&J Exports
Mumbai: India’s Gem & Jewellery Export Promotion Council (GJEPC) has urged the Reserve Bank of India (RBI) to introduce a series of banking and regulatory reforms to strengthen the competitiveness of India’s gem and jewellery (G&J) exports. The Council’s recommendations focus on improving exporters’ access to working capital, reducing compliance bottlenecks, streamlining banking procedures and creating a more facilitative regulatory
GJEPC Highlights Key Policy Priorities at Meeting with CIM
New Delhi: India’s Gem & Jewellery Export Promotion Council (GJEPC) highlighted the industry’s key policy priorities during a meeting chaired by Mr. Piyush Goyal, the Union Minister of Commerce & Industry, with Export Promotion Councils (EPCs) and industry associations in New Delhi on 24 June to review the Export Promotion Mission (EPM). Ashish Borda, Convenor – PMBD, GJEPC, and Sabyasachi
Thangamayil Jewellery, Receives IAGES Accreditation
Madurai: Gold buyers in Tamil Nadu can now purchase their favourite precious metal with complete trust and transparency from Thangamayil Jewellery Limited (TMJL), one of the most recognized chain of jewellery stores in the state. TMJL has officially received its IAGES accreditation, further cementing its commitment to serve its consumers in the most ethical, responsible and sustainable manner. The Indian
Russia to Levy 8% Duty on Rough from Sep.
Moscow: The Russian government has announced that it will impose an 8% export duty on rough diamonds weighing between 0.45 carats and 10.8 carats, as well as on special-size diamonds exceeding 10.8 carats, effective September 1, 2026. The new duty will apply to rough diamonds in weight categories that are considered economically viable for domestic cutting and polishing. Russia had
