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Despite Global Losses & Firmer Rupee, Indian Gold & Silver Held Their Floors
Macro Snapshot: The selling that pushed both metals lower in the week ending 25 September came from the American bond market rather than from any bullion-specific news. S&P Global’s flash survey on 23 September put its composite output index at 58.4, the strongest reading since July 2021, with services at 58.7 and manufacturing at 56.7. On the same morning, Federal Reserve Governor Michael Barr said further policy adjustments were likely to be needed to return inflation to target. A poorly
Despite Global Losses & Firmer Rupee, Indian Gold & Silver Held Their Floors
Macro Snapshot: The selling that pushed both metals lower in the week ending 25 September came from the American bond market rather than from any bullion-specific news. S&P Global’s flash survey on 23 September put its composite output index at 58.4, the strongest reading since July 2021, with services at 58.7 and manufacturing at 56.7. On the same morning, Federal Reserve Governor Michael Barr said further policy adjustments were likely to be needed to return inflation to target. A poorly
Top News
Qatar Diamond Exchange Signs Strategic MoUs
The Qatar Diamond Exchange (QDE) has signed Memoranda of Understanding (MoUs) with the Diamond Exchange of Singapore, the Shanghai Diamond Exchange and the Tokyo Diamond Exchange during the 41st World Diamond Congress in Singapore. The agreements reflect QDE’s strategic focus on developing closer relationships with established diamond markets across Asia and creating new opportunities for trade and cooperation between Qatar
IDMA Mourns Passing of Vasant Mehta
Antwerp: The board and members of the International Diamond Manufacturers Association (IDMA) deeply mourn the passing of one of the global diamond industry’s and trade’s leaders and mentors, Mr. Vasant Mehta, who passed away earlier this week at the age of 81. Vasant served as IDMA’s Vice President from 1998-2000 and then from 2002-2008, on behalf of the Gem &
Shaping the Roadmap for India’s $100 Bln. G&J Future
Mumbai: Department of Commerce, in association with the Gem & Jewellery Export Promotion Council (GJEPC), yesterday convened the ‘Chintan Shivir – 2040 Roadmap for Gems & Jewellery’, a high-level dialogue aimed at developing a comprehensive strategy to help India achieve its ambition of USD 100 billion in gems and jewellery (G&J) exports by 2040. The roadmap envisages an increase in
India’s Largest Platinum Experience Zone at Kalamandir Jewellers, Vadodara
Vadodara: Kalamandir Jewellers has unveiled India’s largest Platinum Experience Zone at its new flagship store in Vadodara, creating a dedicated destination for consumers to explore platinum jewellery across designs, occasions andprice points. The launch strengthens the visibility of platinum jewellery in Gujarat and complements Platinum Guild International’s (PGI) ongoing efforts to build awareness and appreciation for the metal through consumer education, design innovation
TanzaniteOne Q3 Output Dips
Dar Es Salaam: Richland’s partly-owned TanzaniteOne Mining Limited (TML) said it produced 622,551 carats of tanzanite during the third quarter of 2014 down from 810,347 carats recorded a year earlier. The company said in a statement that it achieved an average grade of 110 carats per tonne up from 108 carats realised during the second quarter of 2013. It said
Gemfields Uncovers 40.23-Ct Ruby
Maputo: Gemstone miner Gemfields has discovered a 40.23-carat ruby Mozambique that the firm says it believes to be one of the most important rubies unearthed in recent times. “The gemstone will set a new benchmark for the quality of African rubies and endorses the Montepuez deposit in Mozambique as the world’s most significant deposit presently in development,” the company said
EGL USA Launching Diamond Trading Service
New York: Stung by RapNet’s decision to ban all EGL labs from its network, EGL USA is launching a rival online trading platform. The network, still in the testing phase, will list “stones from EGL USA as well as other top-tier well-respected labs,” says a spokeswoman. A statement said that the free-of-charge platform is meant for lab clients “displaced by
Now Diamonds from Peanut Butter!
London: While man-made diamonds are becoming increasingly popular, it’s hard to believe a German geologist has found the way to create the coveted gems out of peanut butter. However Dan Frost — a geologist from the Bayerisches Geoinstitut— was able to replicate extreme conditions found in the Earth’s surface, becoming one of the first cases reported where the tasty spread
