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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One More PIL to Get Back Kohinoor Diamond
New Delhi: The Supreme Court of India on Thursday agreed to hear another PIL seeking a directive to the Centre to try and bring back the Kohinoor diamond from the United Kingdom, reports tribuneindia. A Bench headed by Chief Justice TS Thakur said it would hear the fresh plea by Heritage Bengal and another organization along with a pending petition
‘Lesedi la Rona’ Fails to Attract Buyers
London: The 1,109-carat ‘Lesedi la Rona’ is the second-largest gem-quality rough diamond ever found, but bidding didn’t reach the Sotheby’s reserve price, reports theguardian. Turns out the largest diamond discovered in over a century may not be worth that much after all. The tennis ball-sized “Lesedi la Rona” failed to find a buyer on Tuesday, a disappointing result for a
KP Chair Visits Angola and South Africa
Luanda: Kimberley Process (KP) chairman Ahmed Bin Sulayem has continued his tour of Africa, having recently visited two founding KP countries – Angola and South Africa. Bin Sulayem met with Angolan President José Eduardo dos Santos as well as South African mineral resources minister Mosebenzi Joseph Zwane, in which they discussed the progress that diamond producing nations are making with
De Beers Opens First Store in Kuwait
Gaborone: De Beers recently opened a 145-square meter store in the Prestige area of the Avenues Mall in Kuwait – its first in the Emirate. It is the third location to be opened in the Middle East, following similar stores in Dubai and Bahrain. The company hosted an event in honor of talented Kuwaiti women to showcase the launch of
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
