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
Top News
GJSCI’s Initiative on Tribal Youth Empowerment
Mumbai: The Shrimad Rajchandra Skill Development Centre, set up in partnership with the Gem & Jewellery Skill Council of India (GJSCI) in September 2022, is helping tribal youth in Dharampur, Valsad, in southern Gujarat build sustainable careers in the gem and jewellery sector. The centre offers training in jewellery CAD design, a key skill in modern jewellery manufacturing. Supported by
Zen Diamond Opens Store in Chandigarh
Chandigarh: Zen Diamond continues to expand its presence in India with the opening of its latest boutique at Nexus Elante Mall, Chandigarh. After establishing a strong foothold in Mumbai with stores in Bandra and Borivali, and further strengthening its presence in Bengaluru with two stores, Zen Diamond now brings its hallmark of exquisite craftsmanship and modern design to North India.
Rio Tinto Concludes Its Final Beyond Rare Tender
Perth: Rio Tinto has brought its celebrated Beyond Rare Tender series to a close, presenting 52 lots of exceptional fancy colour diamonds sourced from its Australian and Canadian mines. Titled “Into The Light,” the event was the third and final edition in Rio Tinto’s annual Art Series. With the Argyle Diamond Mine having ceased operations in 2020 and the Diavik
GJEPC Submits Pre-Budget Proposals to Govt.
New Delhi: India’s Gem & Jewellery Export Promotion Council (GJEPC) submitted a set of pre-budget proposals to the Government of India in New Delhi on 7th November, aimed at improving ease of doing business and boosting exports. The Council proposals were put forth by Mr. Kirit Bhansali, Chairman, GJEPC; Mr. Anoop Mehta, Convener – Diamond Panel; Mr. K. Srinivasan, Convener
KGK Diamonds Wins Court Battle in New York
New York: A New York Supreme Court judge ruled in favor of KGK Diamonds, awarding the Indian sightholder a judgment of $2.4 million plus interest against Madison Avenue Diamonds, the company behind the Ivanka Trump Fine Jewelry brand, for breach of contract, in a court battle that dragged on for nearly three years, reports JCKonline. Both parties had agreed to
Registration for IDW in New York is Open
Ramat Gan: Registration for the fourth edition of the Israel Diamond Week in New York is now open. Diamond buyers interested in attending are requested to register HERE. The event will be held on the trading floor of the Diamond Dealers Club of New York, at 580 Fifth Avenue in midtown Manhattan, October 19-22, 2015. “The diamond trading centers of
CAR Still Suspended by Kimberley Process
Antwerp: The Kimberley Process (KP) suspended the Central African Republic (CAR) in May 2013, meaning that all countries are forbidden from importing rough diamonds from CAR. Because the situation in certain parts of the country has seen considerable progress, it was decided in June 2015 during the KP Intersessional to grant CAR the opportunity to eventually start exporting rough diamonds
Zimbabwe’s Aurex Diamonds to be Capacitated
Harare: Aurex Diamonds, a subsidiary of the Reserve Bank of Zimbabwe, is set to be capacitated to “enhance” the country’s capacity to export “high value” polished diamonds. The Herald newspaper reports that the central bank had pumped in $1 million towards resumption of Aurex operations. This saw capacity utilization in the jewellery line leaping from less than two percent in
