Chetan Kumar Mehta Propels Laxmi Diamonds to the Top
PGI Expects 50% Growth Rate in India: Pallavi Sharma
Platinum is Set to Become the Metal of Choice: Sujala Martis
Should Airlines Ban Carrying Gold in Hand?
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
ALROSA Unearths Another Special Diamond
Moscow: ALROSA reported it has produced a 110.84-carat diamond at its Jubilee kimberlite pipe and Aikhal Mining and Processing Plant. The diamond crystal has an octahedral shape with a sheaf-like-splintery hatching. Its dimensions are 25.5 х 16.0 х 22.0 mm. the stone has patterns of trigonal depressions on its sides. There have been internal intersecting cracks spotted on the surface
Gahcho Kué Recovers 68 Carat Diamond
Toronto: Mountain Province Diamonds recovered the largest gem-quality stone yet from its Gahcho Kué mine in Canada. At 67.87 carats, the octahedron-shaped rough diamond was extracted during the ramp-up of the mine, which was launched in September last year. “The presence of large gem-quality diamonds at Gahcho Kué was established during the bulk sampling when a 25.13-carat octahedron was recovered.
De Beers Exploration Budget in ’17 Unchanged
Gaborone: De Beers will keep its diamond exploration budget steady at $35 million in 2017, the company said, while turning to new technology to improve the rate of discoveries. “Our exploration spend this year is likely to be in line with last year’s, around $35 million,” De Beers told Reuters. The industry invested around $7 billion on exploration between 2000
Global Mining Industry Convalescing: Anglo
Cape Town: Anglo American, which has an 85 percent stake in De Beers, said the past year brought some reprieve for the global mining industry. Group chief executive Mark Cutifani told the Investing in African Mining Indaba in Cape Town, South Africa that while market watchers were ready to sound a death knell on mining’s prospects, the industry had survived.
ALROSA Unearths Another Special Diamond
Moscow: ALROSA reported it has produced a 110.84-carat diamond at its Jubilee kimberlite pipe and Aikhal Mining and Processing Plant. The diamond crystal has an octahedral shape with a sheaf-like-splintery hatching. Its dimensions are 25.5 х 16.0 х 22.0 mm. the stone has patterns of trigonal depressions on its sides. There have been internal intersecting cracks spotted on the surface
Gahcho Kué Recovers 68 Carat Diamond
Toronto: Mountain Province Diamonds recovered the largest gem-quality stone yet from its Gahcho Kué mine in Canada. At 67.87 carats, the octahedron-shaped rough diamond was extracted during the ramp-up of the mine, which was launched in September last year. “The presence of large gem-quality diamonds at Gahcho Kué was established during the bulk sampling when a 25.13-carat octahedron was recovered.
De Beers Exploration Budget in ’17 Unchanged
Gaborone: De Beers will keep its diamond exploration budget steady at $35 million in 2017, the company said, while turning to new technology to improve the rate of discoveries. “Our exploration spend this year is likely to be in line with last year’s, around $35 million,” De Beers told Reuters. The industry invested around $7 billion on exploration between 2000
Global Mining Industry Convalescing: Anglo
Cape Town: Anglo American, which has an 85 percent stake in De Beers, said the past year brought some reprieve for the global mining industry. Group chief executive Mark Cutifani told the Investing in African Mining Indaba in Cape Town, South Africa that while market watchers were ready to sound a death knell on mining’s prospects, the industry had survived.
