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
Now De Beers Closing Diamond Mine in Botswana
Gaborone: Botswana’s diamond mining giant, Debswana, is closing its Damtshaa mine, and will scale down production at Orapa No.1 operation for the next three years as it battles a continued downturn in the global diamond market, local paper Southern Times reports. The company, a 50/50 joint venture between De Beers and the Botswana Government had forecast production of 22 million
Zimbabwe Starts Work on Diamond Bourse
Bulawayo: The Minerals Marketing Corporation of Zimbabwe (MMCZ) has started work to set up the first ever diamond bourse in the country, reports The Southern Times. The company has called for consultancy work on the multi-million dollar project. Zimbabwe had planned to establish a diamond exchange by end of the first half of 2015, but however the target could not
India Lowers GDP Growth Forecast to 7-7.5%
New Delhi: India is expected to grow by 7-7.5% in 2015-16, slower than the previous estimate of 8.1-8.5% as weak exports, sluggish farm sector and private investment weighed on faster expansion, the government’s mid-year review showed on Friday. In the Economic Survey of 2014-15, the finance ministry had forecast a growth of 8.1-8.5% for the current fiscal which ends in
WGC Says 2016 Outlook is Optimistic
Mumbai: “2015 has been a fascinating year for the gold market, with strong demand from central banks, Asian markets and the European bar and coin market. The pro-gold schemes introduced by the Indian government and the further internationalization of the renminbi alongside the increasing transparency of Chinese gold reserves will continue to improve the market next year. Gold’s role as
India Gem & Jewellery Machinery Expo in Surat
Surat: The Gem and Jewellery Export Promotion (GJEPC) in affiliation with the Surat Diamond Association (SDA), will host the India Gem & Jewellery Machinery Expo (IGJME) at The International Exhibition & Convention Centre, Surat, from 28th – 30th November, 2014. The inaugural edition in 2013 saw 75 exhibitors spread across 100 stalls. This year’s edition has grown bigger and will
Global Diamond Jewellery Sales Hit $79 Billion
Gaborone: Global diamond jewelry sales hit a record $79 billion in 2013, as the market faces a coming rough shortage, according to De Beers’ inaugural Diamond Insight Report. The report said that U.S. sales rose 7 percent last year, while sales in India and China grew 12 percent. According to the report, one in six U.S. diamond jewelry sales were
Antwerp Diamond Trade Fair on February 1-3, 2015
Antwerp: Diamond buying jewellers visiting the Antwerp Diamond Trade Fair (ADTF) will get a genuine taste of the unequaled variety of diamonds that the Antwerp diamond market has to offer, says Ari Epstein, the CEO of the Antwerp World Diamond Centre (AWDC), which is the chief sponsor of the Fair. “Antwerp is the world’s leading diamond trading centre. However, my
Zimbabwe’s VP Lashes out at India’s Surat
Harare: Zimbabwe’s often reserved vice president Joyce Mujuru has sparked a potential diplomatic spat following her weekend tongue-in-cheek comment over India’s Surat. Surat, a city in the Indian state of Gujarat, was considered the world’s biggest diamond cutting and polishing centre. She was quoted in the local press as having said that India had “built a whole town” from smuggled
