We Wish to Build Globally Relevant SKY Gold: Akash Talesara
Israel’s Diamond Industry Under Severe Pressure
Did Natural Diamond Ind. Misjudge LGD Threat?
A Surging Rupee Tripled Gold’s Global Loss in India as Silver Broke Down
Macro Snapshot: The Reserve Bank of India changed the domestic arithmetic before trading opened on 12 October. On 10 October it announced a special window to meet the entire daily dollar requirement of Indian Oil, Bharat Petroleum and Hindustan Petroleum directly from its reserves, taking a large block of import demand out of the spot market. The central bank also tightened rupee derivative rules, imposing a 20% Foreign Exchange Risk Reserve on eligible contracts above $2 million and barring the
A Surging Rupee Tripled Gold’s Global Loss in India as Silver Broke Down
Macro Snapshot: The Reserve Bank of India changed the domestic arithmetic before trading opened on 12 October. On 10 October it announced a special window to meet the entire daily dollar requirement of Indian Oil, Bharat Petroleum and Hindustan Petroleum directly from its reserves, taking a large block of import demand out of the spot market. The central bank also tightened rupee derivative rules, imposing a 20% Foreign Exchange Risk Reserve on eligible contracts above $2 million and barring the
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Gemfields Sells Ruby Worth $30.4 Mln.
London: Gemfields plc reported sales of $30.4 million from an auction of rough ruby extracted by Montepuez Ruby Mining Limitada in Mozambique, which is 75% owned by Gemfields. The auction, held in Singapore from December 12 to 16, was the first ruby sale of this financial year and generated the fourth highest ruby auction result to date and average realized
De Beers Will Flood Snap Lake Mine
Toronto: One year after deciding to place it on care and maintenance, De Beers is putting its Snap Lake Mine in the Canadian subarctic on extended care and maintenance – a euphemism for flooding. Work on flooding the tunnels of the shuttered diamond mine will start in early January and is expected to take between six and eight weeks. The
India’s Polished Diamond Exports Dip 10% in Nov
Mumbai: Exports of cut and polished diamonds from India stood at US$ 1.19 billion in November 2016, a drop of 10% as compared to the US$ 1.32 bn in the same month a year earlier, according to provisional data released by The Gem & Jewellery Export Promotion Council (GJEPC). Exports of gold jewellery (both studded and plain) also slowed, declining
GJEPC Hosts Seminar in Surat on Demonetisation
Surat: The Gem & Jewellery Export Promotion Council (GJEPC), Gujarat Region, organised a seminar on ‘Demonetisation and Opportunities for G&J Sector’ at Surat yesterday. Over 50 members of the trade were present. The seminar was addressed by Shri S.P.Shah, founder & chairman, Venus Jewels; Shri Govindbhai Dholakiya, Founder & Chairman, Shree Ramakrishna Exports and CA Nirav Jogani, Vice Chairman, RSM
Gold Smuggling Arrests Jump 750% YoY in India
Mumbai, 14th April: While cases of gold smuggling in India have jumped 265% from 40 in 2012-13 to 146 in 2013-14, the number of people arrested has shot up by 750%, from 30 in 2012-13 to 255 in 2013-14, data from the Directorate of Revenue Intelligence shows, according to a report published in Mineweb. “Gold imports through the legal channel have
