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 Did Gold & Silver Break Down Just as Fed Hike Bets Faded
Macro Snapshot: The rate backdrop eased during the week ending 23 October, which makes the metals’ slide harder to explain. CME FedWatch odds of a hike at the 27 to 28 October FOMC meeting had settled near one in three on 14 October, after the 3.7% September CPI print, and stood at 9.4% by 23 October. December hike odds slipped from about 90% to close to 80%. The 10-year Treasury yield closed at 5.00% against 5.09% a week earlier, and
Why Did Gold & Silver Break Down Just as Fed Hike Bets Faded
Macro Snapshot: The rate backdrop eased during the week ending 23 October, which makes the metals’ slide harder to explain. CME FedWatch odds of a hike at the 27 to 28 October FOMC meeting had settled near one in three on 14 October, after the 3.7% September CPI print, and stood at 9.4% by 23 October. December hike odds slipped from about 90% to close to 80%. The 10-year Treasury yield closed at 5.00% against 5.09% a week earlier, and
Top News
India’s Gold Imports Go up in November
Mumbai: India’s gold import in November was the highest in this calendar year, due to a sharp increase in demand from bullion dealers and stockists. Trade sources estimate import at 100 tonnes, as compared to 98 tonnes in the same month last year and 84 tonnes in October, reports Business Standard. Dealers and stockists were anticipating a sharp rise in
Massive Diamond Boosts Lucara’s 2016 Sales
Toronto: Lucara Diamond Corp. expects revenue to hit $295 million in 2016, implying a 32 percent surge from a year ago, following the sale of the most expensive rough diamond in history. The Canada-based miner sold the 813-carat Constellation diamond for a record $63.1 million, or $77,649 per carat, to Dubai-based Nemesis International in May. Full-year revenue including that stone
BIS Narrows Hallmarking Norms for Gold Jewellery
Mumbai: The Bureau of Indian Standards (BIS) under the Ministry of Consumer Affairs (MCA) has made hallmarking of gold ornaments mandatory for three categories beginning the New Year, reports Business Standard. Effective January 1, jewellers will need to hallmark the 22, 18 and 14 carat jewellery they sell to consumers. At present, gold ornaments with all purity levels between 9
HRD to Implement More Flexible Pricing Structure
Antwerp: To fully accommodate the true needs of our customers in what can be a highly versatile and fluctuating market, HRD Antwerp has decided to optimize our pricing to provide a more flexible and transparent service. The most important change to the new pricing structure is that you will be able to configure most diamond examinations exactly to your liking.
WDC & KP Sign an MOU
Antwerp: Edward Asscher, President of the World Diamond Council, and Vice Minister Wei Chuanzhong, Chair of the Kimberley Process, signed a Memorandum of Understanding in Antwerp on Friday, May 23, formalizing the agreement for 2014 between the two organizations, according to which WDC finances and operates the Administrative Support Mechanism (ASM) on behalf of the Kimberley Process. The ASM provides
ALROSA Expects 5-Percent Growth in Rough Prices
Moscow: ALROSA expects that global rough prices will go up by 5% in 2014 over the last year, according to the ITAR-TASS report from St. Petersburg. This was disclosed to journalists on the sidelines of the St. Petersburg International Economic Forum by Fyodor Andreev, President of ALROSA. “We reckoned on a growth rate of 5%. I think it is achievable,”
Zimbabwe Orders Miners to Sell Gems through RBZ
Harare: The cash-strapped ruling ZANU PF government has issued an order to all diamond miners in the country to sell their gems through the Reserve Bank of Zimbabwe (RBZ). The permanent secretary in the Ministry of Mines, Francis Gudyanga, reportedly wrote a letter to the companies explaining that the central bank will use the diamonds to secure a government loan.
Antwerp Hosts WDC and KP Chair
Antwerp: The Antwerp World Diamond Centre (AWDC) welcomed the Kimberley Process (KP) Chair, His Excellency Wei Chuanzhong, Vice-Chair Bernardo Campos and the Mr. Edward Asscher, President of the World Diamond Council (WDC) for the purpose of renewing the Memorandum of Understanding (MoU) on the KP Administrative Support Mechanism (ASM). In 2012, the KP Plenary designated the World Diamond Council through
