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
Celebrate Akshaya Tritiya with Indian Gold Coin
Mumbai: Akshaya Tritiya, one of the most important festivals in the Indian calendar, falls on Monday, 9th May this year. It is considered a particularly auspicious day to buy gold, and following this tradition is believed to bring a family long-term prosperity and success. This Akshaya Tritiya, Indian consumers can usher the festival of good fortune by buying India’s first
ZCDC Sells 270,000 Carats of Diamonds Since Feb
Harare: The Zimbabwe Consolidated Diamond Company (ZCDC) has sold 270,000 carats of diamonds since February, when the government created the entity having merged several diamond companies, according to The Africa Report. Zimbabwe’s mines and mining development minister Walter Chidhakwa said that the ZCDC’s performance had vindicated the government’s decision consolidate the mines into one organization. He estimated that monthly diamond
Gemfields Sells Emeralds at Record Average Price
Lusaka: Gemfields achieved a record average price for “higher-quality” rough emerald at an auction in Lusaka, Zambia. The miner sold 470,000 carats for an average of $70.68 per carat at the sale in Lusaka, which ran from March 30 to April 3. Total revenue generated was $33.1 million. Gemfields said production of emeralds and beryl at the Kagem mine in
Singapore Diamond Investment Exch. Launched
Singapore: Trading has started on the Singapore Diamond Investment Exchange (SDiX), the world’s “first” commodity exchange for physically-settled diamonds. The introduction on May 5 “represents the most significant change in global diamond trading practices in hundreds of years,” according to SDiX, which is backed by investors including the Singapore government’s sovereign wealth fund Temasek Holdings. “The SDiX represents a tectonic
ADB to Participate in Int’l Diamond Week
Ramat Gan: The Israel Diamond Exchange (IDE) announced that a delegation of the Antwerp Diamond Bourse (Beurs voor Diamanthandel) will join colleagues from the Diamond Dealers Club of New York to take part in the International Diamond Week at the Israel Diamond Exchange, from Monday, September 1 to Thursday, September 4. “We’re very pleased that the Antwerp Diamond Bourse will
EGL International Clarifies…
Ramat Gan: EGL International Managing Partner and CEO Guy D. Benhamou has categorically refuted claims made on a regional television station in the United States that EGL’s grading standards were lower than those of its competitors. He added that it was untrue that EGL had been contacted for comment on the case by the TV station as claimed in an
Rio Tinto showcases “Oculus Rift” technology
Las Vegas: Rio Tinto Diamonds is bringing the mine to the marketplace by using innovative Oculus Rift technology to provide an interactive virtual journey into its Diavik Diamond Mine in the remote Northwest Territories of Canada. The Oculus Rift will debut at the Rio Tinto booth at the world’s largest diamond jewellery trade show, the JCK Luxury Show, in Las
WDC & KP Sign an MOU
Antwerp: Edward Asscher, President of the World Diamond Council, and Vice Minister Wei Chuanzhong, Chair of the Kimberley Process, signed a Memorandum of Understanding in Antwerp on Friday, May 23, formalizing the agreement for 2014 between the two organizations, according to which WDC finances and operates the Administrative Support Mechanism (ASM) on behalf of the Kimberley Process. The ASM provides
