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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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Registration Open for International Diamond Week
Ramat Gan: It’s now official: registration has opened for the sixth International Diamond Week in Israel (IDWI), to be held from February 13 to 16, 2017, on the trading floor of the Israel Diamond Exchange (IDE). Over the past five years the event has become an essential feature on the calendar of professional diamond dealers worldwide. Today’s announcement is the
Indian Institute of Gems & Jewellery in Varanasi
Hon. Union Minister of State for Commerce & Industry Smt. Nirmala Sitharaman graces foundation stone laying ceremony of IIGJ Mumbai, Varanasi Extension Campus Varanasi: The Gem & Jewellery Export Promotion Council (GJEPC) is taking a big step towards realizing Prime Minister, Narendra Modi’s one of the dream project, ‘Skill India’ by setting up the first-of-its-kind Indian Institute of Gem &
India Relaxes Gold & Jewellery Purchases
New Delhi: Amendments to the I-T laws do not seek to tax inherited gold and jewellery as also those items that are purchased through disclosed or agriculture income, the government said yesterday. The Lok Sabha earlier this week passed the Taxation Laws (Second Amendment) Bill, which proposes a steep up to 85 percent tax and penalty on undisclosed wealth that
Excise on Branded Gold Coins Abolished
New Delhi: The government of India has scrapped the excise duty on branded gold coins, a move that one would assume benefit the industry and consumers alike. However, World Gold Council (WGC) and Titan are not too enthused about the step, and do not expect to see a major rise in demand for branded gold coins. Commenting on the move,
JNA Awards 2014: Deadline for Entries Extended to 8th May
Hong Kong: JNA Awards, the annual industry-wide event that honors the innovators and leaders of the international jewellery industry, with a focus on their achievements and contribution in Asia, has now extended the deadline for accepting entries up to 8th May, 2014, an official press release issued by the organizer says. Individuals or companies may submit their entries or on behalf
CIBJO Releases Colored Stone Special Report
Milan: With fewer than five weeks to go to the opening of the 2014 CIBJO Congress in Moscow on May 19, 2014, the fourth of the CIBJO commissions Special Reports has been released, as stated in a press brief. Prepared by the CIBJO Colored Stone Commission, headed by Nilam Alawdeen, the report focusses on the proper disclosure of gemstone treatments and
Indias Silver Jewellery Exports Double
Mumbai: A shortage of gold as a raw material and the consequent decline in gold jewellery exports appears to have opened up new avenues of growth for silver jewellery in India, reports Mineweb. Indias silver jewellery exports rose 45.33% to $84.1 million in February 2014, and jumped 89% in the 11-month period to $1.35 billion, according to data from the Gem
AGL Celebrates Five Years under New Management
New York, 15th April: American Gemological Laboratories (AGL), a provider of high-quality gemstone analysis and reporting is celebrating its five-year anniversary under the stewardship of Christopher P. Smith. “Five years ago, AGL was re-privatized during one of the most difficult periods the US and world financial markets have experienced in recent decades. AGL, however, had a good reputation and we did
