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
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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
India's CBDT Bars 'Angadias' From Delivering Cash
New Delhi: The ‘angadias’ or diamond couriers in India will not deliver cash from one destination to other destination starting from February 15, 2017 following the order of the country’s Central Board of Direct Taxes (CBDT) to the angadias to stop accepting the delivery of cash, says a report in The Times Of India. The angadias will only deliver valuable
1269 Retailers Closed Down in US During 2016
New York: The number of jewellery businesses operating in the U.S. fell 6 percent last year as more than 1,000 retailers closed down or merged with competitors. The drop took the total number of U.S. firms listed by the Jewellers Board of Trade (JBT) to 26,725 at the end of 2016, the industry association said. The number of businesses that
Gold-Silver Price-Setting Methods May Change
London: The decades-old methods for determining the daily benchmark prices for gold and silver seem set to change—the result of unwelcome attention from regulators and class-action lawsuits. Currently, the price of both metals is set at a daily teleconference by a number of prominent multinational banks—four in the case of gold, and three in the case of silver. However, the
CIBJO Gives Sustainability Frame for Pearl Sector
Milan: CIBJO President Gaetano Cavalieri has presented an outline for sustainability in the cultured pearl sector, emphasizing that a comprehensive approach must be taken that addresses economic, environmental and social responsibility. He was speaking at the Sustainable Pearls Forum, which took place in Hong Kong on June 21. The cultured pearl industry provides an opportunity to introduce concepts that often
Gold Curb Relaxations on the Way…
New Delhi: The government of India has indicated that there is a need to ease norms for bullion imports to boost supplies and jewellery exports. “There is a need of rationalisation in (gold import) duty and (gold import) procedure….We have already made it clear that there is a need to look at the current gold import regime,” commerce secretary Rajeev
RBI's Credit Limit Troubles Diamond Units
Surat: At least 350 small and medium diamond companies in the world’s biggest diamond cutting and polishing centre in Surat are facing severe financial problems with Indian banks strictly implementing the 90 days credit limit for overseas payment to rough diamond dealers in Antwerp and Dubai for the past four months, reports The Times of India. The Gem and Jewellery
