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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AWDC to Focus on Financial Innovation
Antwerp: The diamond trade around the world is under duress. Antwerp, the most important international trade center, did not escape the year unscathed, but was the best performer. This past year, 48.3 billion USD worth of diamonds were imported to and exported from Antwerp. The world’s diamond trade is currently under duress, with a global decline in sales across the
JNA Awards Reveals 2016 Judging Criteria
Hong Kong: The judging criteria for the fifth edition of the annual JNA Awards have been finalized. Online registration has also been opened to give interested companies and individuals from the jewellery and gemstone industry more time to review the entry rules and criteria before the submission period begins in early March. The JNA Awards, organized by JNA, has been
WPIC Approved as SBM Association Member
Singapore: The World Platinum Investment Council (WPIC) has been approved by the Singapore Bullion Market Association (SBMA) for foreign associate corporate membership, reports yourminingnews.com. This marks the first in a series of strategic initiatives the WPIC is developing in 2016 to stimulate investor demand for physical platinum and increase the number and type of platinum investment opportunities available in Asia.
De Beers Q4 Diamond Output Down by 16%
Gaborone: De Beers said its diamond output for the fourth quarter of 2015 fell 16 percent to 7.1 million carats compared with 8.4 million carats produced a year earlier. It said in a statement that the drop reflected the decision by the group to reduce production in response to trading conditions. The diamond market struggled last year due to liquidity
Gold Prices Unlikely to Settle due to Iraq Tensions
Mumbai: With the turmoil in Ukraine almost gone from the headlines, gold’s status as a hard asset and storer of wealth in times of trouble lost some of its shine. But as Iraq spirals into all-out war and the US looks in danger of being pulled back into a conflict it has spent the last six years extricating itself from,
122.52 Carat Blue Diamond Found at Cullinan
Johannesburg: In what is shaping up to be one of most the amazing diamond finds in recent times, a 122.52 ct. blue diamond—the size of a walnut—has been discovered at the Cullinan mine in South Africa, said mine owner Petra Diamonds. Blue diamonds are ultrarare, as are stones weighing more than 100 cts.—making this, as Petra puts it, a “truly
KP Should Focus on Conflict-Torn Regions only
Shanghai: The newly elected president of the World Diamond Council (WDC) Edward Asscher, put a chill Tuesday on the movement to expand the scope of the Kimberley Process and so cover general human rights abuses, stating the trade body should focus exclusively on diamonds proceeding from conflict zones. Speaking at the Intercessional Meeting of the Kimberley Process in Shanghai, Asscher
DDE’s Peter Meeus Hits Back at PAC Claims
Dubai: Dubai Diamond Exchange Chairman Peter Meeus replied to what he called “serious allegations” made by Partnership Africa Canada about Dubai at the Kimberley Process (KP) Intersessional meeting taking place in Shanghai. “First of all we were surprised to see that Mr. Martin quoted an FAFT (Financial Action Task Force) report on ML/TF (Money Laundering/Terrorism Financing) of 150 pages in
