Chetan Kumar Mehta Propels Laxmi Diamonds to the Top
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Platinum is Set to Become the Metal of Choice: Sujala Martis
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The 200-Day Held: Now Comes the Test That Decides Whether the Bounce is a Reversal
Macro Snapshot: The week ending July 3 broke a five-week decline for both gold and silver. Gold posted its first weekly gain since late May and silver led the recovery with a much larger move. The trigger was a weaker-than-expected US jobs report, which reset rate-hike expectations and pushed the dollar to its largest weekly decline since April. Layered underneath were two other significant developments: the release of the World Gold Council’s Mid-Year Outlook on Tuesday July 1 (covered in
The 200-Day Held: Now Comes the Test That Decides Whether the Bounce is a Reversal
Macro Snapshot: The week ending July 3 broke a five-week decline for both gold and silver. Gold posted its first weekly gain since late May and silver led the recovery with a much larger move. The trigger was a weaker-than-expected US jobs report, which reset rate-hike expectations and pushed the dollar to its largest weekly decline since April. Layered underneath were two other significant developments: the release of the World Gold Council’s Mid-Year Outlook on Tuesday July 1 (covered in
Top News
Forevermark Inscribes Two Millionth Diamond
London: De Beers Group today announced its Forevermark diamond brand has inscribed its two millionth diamond. The diamond is a 3.48 carat round brilliant and bears the unique inscription of ‘2,000,000’. The diamond was mined, cut and polished in Namibia and inscribed at the Forevermark Diamond Institute in Surat, India. It will be set in a piece of jewellery at
China Records Sustained Growth in Jewellery Sales
Beijing: Retail sales of gold, silver and jewellery in China were up 7.8 percent in the first four months of the year, indicating further signs of improvement in the market, according to data released by the National Bureau of Statistics of China. Sales rose to around $15 bn from January to April compared to the same period a year ago.
Rockwell Subsidiaries Survive Liquidation Bid
Johannesburg: Rockwell Diamonds said its three subsidiaries – Rockwell Resources, HC van Wyk Diamonds and Saxendrift Mine – were successfully placed under business rescue by a court in Kimberley, South Africa as opposed to liquidation. The immediate effect, it said, was that all legal proceedings against the subsidiaries were stayed, and the liquidation process was suspended. Rockwell said the orders
Tanzanian President Asks Mining Minister to Resign
Dar Es Salaam: Tanzanian President John Magufuli on Wednesday ordered Minister for Energy and Minerals Sospeter Muhongo to resign after a report showed he was implicated in mining firms’ undeclared mineral sand exports. The report revealed that the undeclared mineral sand exports led to tax evasion by the mining firms. Magufuli said the report revealed that mining firms, including Acacia
Forevermark Inscribes Two Millionth Diamond
London: De Beers Group today announced its Forevermark diamond brand has inscribed its two millionth diamond. The diamond is a 3.48 carat round brilliant and bears the unique inscription of ‘2,000,000’. The diamond was mined, cut and polished in Namibia and inscribed at the Forevermark Diamond Institute in Surat, India. It will be set in a piece of jewellery at
China Records Sustained Growth in Jewellery Sales
Beijing: Retail sales of gold, silver and jewellery in China were up 7.8 percent in the first four months of the year, indicating further signs of improvement in the market, according to data released by the National Bureau of Statistics of China. Sales rose to around $15 bn from January to April compared to the same period a year ago.
Rockwell Subsidiaries Survive Liquidation Bid
Johannesburg: Rockwell Diamonds said its three subsidiaries – Rockwell Resources, HC van Wyk Diamonds and Saxendrift Mine – were successfully placed under business rescue by a court in Kimberley, South Africa as opposed to liquidation. The immediate effect, it said, was that all legal proceedings against the subsidiaries were stayed, and the liquidation process was suspended. Rockwell said the orders
Tanzanian President Asks Mining Minister to Resign
Dar Es Salaam: Tanzanian President John Magufuli on Wednesday ordered Minister for Energy and Minerals Sospeter Muhongo to resign after a report showed he was implicated in mining firms’ undeclared mineral sand exports. The report revealed that the undeclared mineral sand exports led to tax evasion by the mining firms. Magufuli said the report revealed that mining firms, including Acacia
