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
De Beers May Abandon London Flagship Store
London: De Beers Diamond Jewelers on Old Bond Street is considering leaving its flagship London store after almost 15 years, citing an increase in rent and business rates as motivating its decision to relocate, writes The Telegraph. A spokesperson for the company told The Telegraph increased costs related to its lease had led it to “explore alternative options on Bond
RBI Expected to Hold Interest Rates
Mumbai: The Reserve Bank of India (RBI) is expected to hold key interest rates at its monetary policy review, its second after November’s note ban, in the wake of banks being flush with funds post-demonetisation and a firming up of global oil prices. As a result of the surge in bank deposits following the recent demonetisation of high-value currency, lending
Karelian Makes Diamond Recovery in Finland
Helsinki: Karelian Diamond Resources, an Irish diamond exploration company focused on Finland, announced they had received results from sampling undertaken by the Geological Survey of Finland (GTK) which had been requested by the company. In one of the seven samples that had been analyzed, a diamond had been discovered from the Kuhmo region of Eastern Finland. Chairman of Karelian Diamond
India’s Gold Demand Fell by 21%: WGC
Mumbai: Global gold demand rose 2% in 2016 to reach 4,309 tonnes (t), the highest level since 2013, according to the World Gold Council’s (WGC) latest Gold Demand Trends report. This was largely driven by inflows into gold-backed Exchange Traded Funds (ETFs) of 532t, the second-highest year on record, as investors responded to concerns over future monetary policy, geopolitical uncertainty
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
India May not fully Withdraw Gold Curbs
New Delhi: Despite a significant reduction in the current account deficit, curbs on gold imports are unlikely to be fully removed this Budget. Instead, the finance ministry may lower the import duty on the precious metal by two per cent, reports The Indian Express. “The current account deficit situation is still being closely monitored. The curb on gold imports was
