We Wish to Build Globally Relevant SKY Gold: Akash Talesara
Israel’s Diamond Industry Under Severe Pressure
Did Natural Diamond Ind. Misjudge LGD Threat?
With December Hike Odds Intact, Can a Midterm Rally Repair Gold, Silver’s Breakdowns?
Macro Snapshot: Gold posted its best week since late August, but it got there on rate relief that had disappeared by Friday. COMEX gold rose 4.5% to $4,074.9 and silver 5.4% to $51.94 while cheaper oil pushed the odds of a December Fed hike down from about 71% on 30 October to 64% ahead of Friday’s payrolls, according to CME FedWatch readings reported by Benzinga and Reuters. The jobs data sent the odds back up to 74.8%, CNBC reported, a
With December Hike Odds Intact, Can a Midterm Rally Repair Gold, Silver’s Breakdowns?
Macro Snapshot: Gold posted its best week since late August, but it got there on rate relief that had disappeared by Friday. COMEX gold rose 4.5% to $4,074.9 and silver 5.4% to $51.94 while cheaper oil pushed the odds of a December Fed hike down from about 71% on 30 October to 64% ahead of Friday’s payrolls, according to CME FedWatch readings reported by Benzinga and Reuters. The jobs data sent the odds back up to 74.8%, CNBC reported, a
Top News
Russian Manufacturers Request State Support
Moscow: On the eve of the abolition of the 6.5% export duty on diamonds coming on September 1, 2016, Russian diamond cutters said they would need large-scale state support. As the Kommersant Daily came to know, the largest local diamond industry enterprise, which is Smolensk-based Kristall, proposed to introduce new protective market mechanisms, stating that without them, Russian diamond manufacturers
ALROSA Started to Sell 10.9%
Moscow: On Wednesday, Sberbank CIB and VTB Capital (coordinators of the transaction to float the diamond miner’s state-owned shares) opened an order book for purchasing 802,780,000 shares in ALROSA (10.9% of the state-held stock) after yesterday’s trading on the Moscow Stock Exchange closed, according to the company’s report released on the Exchange. Thus, ALROSA became the first company with state
Chow Tai Fook Among Top 10 Luxury Goods Cos.
Hong Kong: Hong Kong-based Chow Tai Fook Jewellery Group Ltd is still among the world’s top 10 luxury goods companies, earning US$8.29 billion in revenues in financial year 2014, data from the 2016 Global Powers of Luxury Goods report showed. The report, released by global business consultancy firm Deloitte, examined the 100 largest luxury goods companies globally based on the
Russia Overtakes Botswana as Rough Producer
Moscow: Russia extended its lead over Botswana as the world’s largest rough diamond producer, according to data released by the Kimberley Process (KP). Russia’s output leaped 9.4 percent to 41.9 million carats worth $4.24 billion last year while that of Botswana eased 16 percent to 20.8 million carats valued at to $2.99 billion. Diamonds from the southern African nation recorded
De Beers August Sight Estimated at $715M
Gaborone: The De Beers August sight closed last week with an estimated value of $715 million as the company maintained steady prices despite liquidity concerns in the diamond manufacturing sector. Rough trading slowed on the secondary market and premiums on De Beers boxes declined, with boxes selling at average low single-digit percentages during and after the sight. “The market is
Debswana Prolongs Lifespan of Mines To 2050
Gaborone: Debswana, a joint venture between De Beers and the Botswana government, has extended the lifespan of its mines in the southern African country to 2050. Company managing director Balisi Bonyongo was quoted by APA as saying that the extension would solidify Botswana’s position as the world’s leading diamond producer by value. He also said that Debswana would continue to
Artisan Awards Receives 800 Artworks
Mumbai: An afternoon filled with awe and excitement, the Gem and Jewellery Export Promotion Council of India (GJEPC), hosted the first round of screening for the Artisan Awards 2014. The eminent jury panel selected a total of 40 sketches from 800 entries, narrowing down the best in design, ingeniously bringing alive the movie eras through jewellery. Sanjiv Banerjee, Mamta Rajaram,
Surat to Have India's First Diamond SEZ Soon
Surat: The State of Gujarat in India is now proposing to set up a SEZ (Special Economic Zone) exclusively for diamonds in Surat, possibly the first of its kind in India. According to Gujarat’s Finance Minister Saurabh Patel, the SEZ will be set up in a month or two, as reported in Economic Times. The state government is keen that
