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?
Two Central Banks, Two Signals: Why the NFP Shock Hit Silver Harder Than Gold
Macro Snapshot: The week ending June 5 belonged to two central banks and one labour number. On Friday June 5, the Reserve Bank of India’s Monetary Policy Committee held the repo rate at 5.25% for the third consecutive meeting, voting unanimously, and raised the FY27 inflation projection by 50 basis points to 5.1%. Hours later, the US Bureau of Labor Statistics released a May nonfarm payrolls print of 172,000 jobs, roughly double the consensus expectation of approximately 85,000. The number
Two Central Banks, Two Signals: Why the NFP Shock Hit Silver Harder Than Gold
Macro Snapshot: The week ending June 5 belonged to two central banks and one labour number. On Friday June 5, the Reserve Bank of India’s Monetary Policy Committee held the repo rate at 5.25% for the third consecutive meeting, voting unanimously, and raised the FY27 inflation projection by 50 basis points to 5.1%. Hours later, the US Bureau of Labor Statistics released a May nonfarm payrolls print of 172,000 jobs, roughly double the consensus expectation of approximately 85,000. The number
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De Beers Secures Future for Kimberley Mines
Gaborone: De Beers Consolidated Mines (DBCM), a 26% BEE (black economic empowered) company, has signed an agreement to sell Kimberley Mines (including the tailings mineral resources (“TMR”) as a going concern to Ekapa Minerals (Pty) Limited (“Ekapa Minerals”) – an investor consortium. The consortium comprises Ekapa Mining (Pty) (“Ekapa Mining”)(50.1%) and Petra Diamonds Limited (“Petra”) (49.9%), which both have proven
AWDC Issues Alert about Fake KP Certificate
Antwerp: Belgian officials at the Antwerp World Diamond Center’s (AWDC) Diamond Office issued an alert regarding the interception of a fake Kimberly Process certificate originating from Sierra Leone. The forgery, which has been confirmed by Sierra Leone authorities, uses an old numbering system from 2014, an incorrect parcel number and the dotted lines do not correspond with the original from
U.S. Jewellery Imports Surge in Q3
New York: U.S. jewellery imports jumped 85 percent for platinum in the third quarter of 2015 and 12 percent for gold, ahead of the holiday season, as prices for both precious metals fell for the fifth straight quarter, Thomson Reuters GFMS calculations showed on Monday. “The holiday season is the most significant contributor to annual retail sales,” said Chicago-based Erica
ALROSA Mulls Production Cut in 2016
Moscow: ALROSA may reduce production in 2016 as its rough diamond inventory is at a critical level in a weak market. “Currently, our inventory stands in excess of 20 million carats and increasing inventory further would not be feasible for the company, or it would be difficult economically,” Ilya Ryashchin, ALROSA’s first vice president in charge of finance and economy,
De Beers Secures Future for Kimberley Mines
Gaborone: De Beers Consolidated Mines (DBCM), a 26% BEE (black economic empowered) company, has signed an agreement to sell Kimberley Mines (including the tailings mineral resources (“TMR”) as a going concern to Ekapa Minerals (Pty) Limited (“Ekapa Minerals”) – an investor consortium. The consortium comprises Ekapa Mining (Pty) (“Ekapa Mining”)(50.1%) and Petra Diamonds Limited (“Petra”) (49.9%), which both have proven
AWDC Issues Alert about Fake KP Certificate
Antwerp: Belgian officials at the Antwerp World Diamond Center’s (AWDC) Diamond Office issued an alert regarding the interception of a fake Kimberly Process certificate originating from Sierra Leone. The forgery, which has been confirmed by Sierra Leone authorities, uses an old numbering system from 2014, an incorrect parcel number and the dotted lines do not correspond with the original from
U.S. Jewellery Imports Surge in Q3
New York: U.S. jewellery imports jumped 85 percent for platinum in the third quarter of 2015 and 12 percent for gold, ahead of the holiday season, as prices for both precious metals fell for the fifth straight quarter, Thomson Reuters GFMS calculations showed on Monday. “The holiday season is the most significant contributor to annual retail sales,” said Chicago-based Erica
ALROSA Mulls Production Cut in 2016
Moscow: ALROSA may reduce production in 2016 as its rough diamond inventory is at a critical level in a weak market. “Currently, our inventory stands in excess of 20 million carats and increasing inventory further would not be feasible for the company, or it would be difficult economically,” Ilya Ryashchin, ALROSA’s first vice president in charge of finance and economy,
