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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Shanghai Gold Exchange Launched
Shanghai: The Shanghai Gold Exchange (SGE), the world’s largest physical gold exchange, launched a yuan-denominated benchmark price on Tuesday in Shanghai, a measure that will benefit both China’s domestic gold market and the global precious metals market. SGE said in a circular that the launch of the Shanghai Gold Benchmark Price will be useful as it adequately reflects the gold
Naturally White Platinum for this Akshaya Tritiya
Mumbai: Akshaya Tritiya also known as Akha Teej, is one of the most auspicious days of the Vedic calendar. Akshaya means “Eternal” or which never diminishes hence buying or giving gifts on this day is considered inexhaustible. Precious platinum is an eternal metal which stands the test of time and considered auspicious for this festival. It is believed that on
Israel’s Polished Diamond Exports -17% in 1Q
Ramat Gan: Israel’s polished-diamond exports dived 17 percent to $1.44 billion in the first quarter as shipments to key trade partners such as the U.S. slumped, according to Rapaport. Exports of cut diamonds to the U.S. after returns slid 21 percent to $499.2 million over January to March. In volume terms, polished exports dropped 15 percent to 528,310 carats, resulting
Russia’s Rough Diamond Exports -29.9% in Q4
Russia’s exports of rough diamonds in the fourth quarter of 2015 decreased by 29.9% compared to the same period of 2014, reaching 7.556 million carats, while the country’s imports grew by 61.7% to 16,870 carats, as it follows from the materials published by the Ministry of Finance. In value terms, exports fell by 38.6% to $ 727.043 million, while imports
GJEPC Demands Relaxations from Govt.
Mumbai: The Gems and Jewellery Export Promotion Council (GJEPC) has urged the government to reduce import duty on gold and silver to 2 per cent from 10 per cent. An official News Release received by this website says that the body has also demanded for scrapping the existing 80:20 scheme, which was imposed by the government in August last year,
36th World Diamond Congress Concludes
Antwerp: The 36th World Diamond Congress concluded in Antwerp, Belgium, and reflected strength in the attendance and the presence of international diamond, gem stone and jewellery industry organization delegates. These included the representatives of 30 bourses affiliated to the World Federation of Diamond Bourses (WFDB), 15 members of the International Diamond Manufacturers Association (IDMA), the two bodies that organize the
ADB's Profit -31%, Interest Income +13%
Antwerp: The Antwerp Diamond Bank (ADB), a subsidiary of the KBC Bank, reported that its balance sheet fell 7 percent year on year to $2.4 billion (EUR 1.692 billion) in 2013, according to a report published on Rapaport. A selective credit issuing policy during the year held the bank’s number of debtors stable, and global net interest income rose almost
Chow Tai Fook to Buy Hearts On Fire for $150 Mn
Beijing: Chinese retailer and manufacturer Chow Tai Fook is buying all the assets of diamond brand Hearts On Fire for $150 million in cash, reports jckonline. The company will be run as a standalone division under current management, a statement said, though there are plans to introduce the brand into Chow Tai Fook’s retail network in Hong Kong, China, Macau,
