Wednesday, 31 December 2014
Gold extends gains, set to close 2014 on a firm note
Gold headed towards
US $1,200 an ounce on Wednesday, holding onto overnight gains, as
worries about Greece's future in the euro zone triggered a sell-off in
equities and an increase in safe-haven bids for the metal.
read more
US Mint gold-coin sales head for biggest drop in eight years
Gold lackluster
performance is turning off coin buyers, with sales at the U.S. Mint
heading for the biggest annual drop in eight years.
read more
Forevermark hosts diamond mine visit to Botswana
Forevermark, the diamond brand from the De Beers Group of Companies,
recently conducted a diamond mine tour at Botswana for select retail
partners. read more
AOJ Exclusive: Bureau of Indian Standards (BIS) DG transferred; New DG to take charge soon
Sunil Soni, DG of Bureau of Indian Standards (BIS) which falls under the
Ministry of Consumer Affairs, Food & Public Distribution,
Government of India has been transferred to the Ministry of Overseas
Indian Affairs, read more
2nd edition of GJEPC’s India-US Diamond Week to begin in Jan; over 60 exhibitors to participate
Inspired by the success of the 1st India US Diamond Week held in
August 2014, The Gem and Jewellery Export Promotion Council is
organizing the 2nd India US Diamond Week read more
Tuesday, 30 December 2014
Quote of the day - 30th Dec 2014
“Meeting with the PM and commerce minister under Make in India initiative was very positive for the gem and jewellery industry. We have put forward our demands like reduction in gold import duty, formation of national council, skill development, jewellery park etc. We are expecting positive results in the upcoming budget.”
Suresh Jain, President, India Bullion and Jewellers Association (IBJA)
AOJ Exclusive: Gem and Jewellery sector gets boost from the PM; Trade bodies upbeat after the meeting
Meeting was called by Prime Minister Narendra Modi under Make in India
initiative and the jewellery sector was represented by the trade bodies.
Cabinet secretary put forward the presentation on behalf of the gem and
jewellery sector. read more
New diamond bourse in Surat likely to be ready in 4 years; diamond barons to invest Rs 1.25lakh crore
Surat Diamond
Bourse, a company floated recently by diamond barons, plans to invest Rs
1.25 lakh crore to establish a new bourse here over a period of four
years.
read more
Gold jewellery export business expected to return to special economic zones (SEZ)
As the government
has scrapped the 80/20 rule for gold imports, part of the gold jewellery
export business that had moved to domestic tariff area (DTA) in the
past few months is expected to return to special economic zones (SEZ). read more
Gold holds below $1,200 as dollar scales new highs
Gold on Tuesday
traded firmly below $1,200 an ounce as the dollar was perched at a near
nine-year high versus a basket of major currencies, undermining
the metal's appeal as a hedge.
read more
China's net gold imports from Hong Kong hit 9-month high in Nov
China gold imports
from Hong Kong in November rose to their highest level since February,
indicating strong demand in the world's top bullion consumer ahead of
the Lunar New Year. "Consumer demand is strong because of lower prices," read more
Kalyan Jewellers ventures into Kuwait market
Kalyan Jewellers marked their entry into the Kuwaiti market with an
official inauguration ceremony, held at the Jumeirah Beach Hotel, Friday
evening. read more
Monday, 29 December 2014
Madras Jewellers & Diamond Merchants Association (MJDMA) celebrates its Platinum Jubilee
The Madras Jewellers and Diamond Merchants Association celebrated its
Platinum Jubilee year at Chennai Trade Centre, Nandambakkam on 28th
December 2014 with pomp and splendour.
read more
AOJ Exclusive: PM Narendra Modi meets jeweller industry leaders on 'Make in India' initiative
Prime Minister
Narendra Modi met jewellery sector leaders and associations today in New
Delhi to discuss how the jewellery segment can be part of the Make in
India campaign he'd initiated in August.
read more
SPDR Gold holdings at six-year low but price firm in thin trade
Gold was trading near its highest in nearly a week on Monday, retaining
sharp short-covering gains from the previous session, but the metal
could be susceptible to losses given weak investor sentiment and a
strong dollar.
read more
Gujarat Gold Jewellery Show (GGJS) ends on a successful note
The 6th edition of GGJS show which was scheduled commences today at
Gujarat University Convention and Exhibition Centre, Ahmedabad. The
three day event which is scheduled from 26 to 28 December, read more
Meena Jewellers inaugurates four-storey Jewellery Showroom in Dubai
Meena Jewellers, one of the oldest gold and diamond jewellery traders in
the Middle East region, launched their four-storey jewellery outlet in
Gold Souk, Deira, on December 25, 2014. read more
Atlas Jewellery opens showrooms in Bangalore and Mumbai
Atlas Jewellery India launched two new showrooms at Bangalore and
Mumbai recently. The Bangalore showroom is located Phoenix City Market
and Mumbai Showroom Haware Infotech Park, Vashi.
read more
Friday, 26 December 2014
YOUR RESPONSE: Gold tourism can provide a firm platform to promote our jewellery heritage- Rajneesh Bhandari
The benefits of gold tourism are many. Dubai is a successful example.
For India to catch up, it requires a strong will from the entire
industry to revamp the existing gold markets of the country and turn
them into highclass areas of trade.
Rajneesh Bhandari
Owner
Bhandari Jewellers, Ajmer
Rajneesh Bhandari
Owner
Bhandari Jewellers, Ajmer
YOUR RESPONSE: Gold tourism can provide a firm platform to promote our jewellery heritage- Vinod Talwar
Creating gold tourism clusters within the country will not be a difficult task as we already have the buyers, skills and products in our reach. If we want to become a gold tourism hub then investment on infrastructure and promotion of our unique products in the world market is crucial.
Vinod Talwar
Proprietor
Krishna Jewellers, Chandigarh
Vinod Talwar
Proprietor
Krishna Jewellers, Chandigarh
YOUR RESPONSE: Gold tourism can provide a firm platform to promote our jewellery heritage- Deepak Wargi
India has always attracted foreign tourists because of it great
architectural wonders, varied cultures, arts, crafts and cuisines etc.
For centuries, the jewellery trade has played an important role in
putting India on the global stage. Gold tourism circuits will not only
bring additional revenue but will also bring fresh perspective into
other aspects of the trade.
Deepak Wargi
Director
Vaishnavi Gems & Jewels, Hyderabad
Deepak Wargi
Director
Vaishnavi Gems & Jewels, Hyderabad
YOUR RESPONSE: Gold tourism can provide a firm platform to promote our jewellery heritage- Narayan B Khatri
From the past few years gold has attracted the ire of politicians and
economists for putting the Indian economy in troubled waters. It is time
to show the positive role of gold in the economy and its contribution
to the GDP through revenue and employment generation. Gold tourism
circuits will highlight these two aspects of gold in the right manner,
which is the need of the hour.
Narayan B Khatri
Owner
DN Jewellers, Nagpur
Narayan B Khatri
Owner
DN Jewellers, Nagpur
Jewellers demand Narendra Modi government to cut import duty on gold
India's 2014 gold
imports are estimated to have dropped 13 per cent from last year despite
a surge in November, data that jewellers hope would encourage the
government to consider a cut in the metal's import duty.
read more
Gold imports down in December
Gold imports are
likely to decline drastically this month as jewellers over-stocked the
metal in anticipation more import restrictions, according to a trade
body.
read more
Indian Govt to introduce alfa-numeric code for jewellery soon
The central
government is actively considering introduction of a nine-digit
alphanumeric identity code for every jewellery item manufactured in
India, to fix purity and traceability. The code is proposed to be
encrypted on every ornament. read more
China challenges India's polished diamond throne
India long-held
position as the world's top diamond polisher is being challenged by
soaring output from China, compelling the south Asian country to seek
help from ally and top rough diamond supplier Russia to defend its
market share.
read more
Gold Assets in biggest bullion ETF tumble most since 2013
Investors in the
world's biggest exchange-traded fund (ETF) product backed by bullion
sold the most gold in 18 months as the US economic recovery cut demand
for a haven.
read more
GSI opens new lab in Botswana
Gemological Science
International (GSI) one of the largest independently owned gemological
laboratories in the world, announced today that it opened its 9th lab in
Gaborone, Botswana.
read more
Gujarat Gold Jewellery Show (GGJS) begins today
The 6th edition of
GGJS show commences today at Gujarat University Convention and
Exhibition Centre, Ahmedabad. The three day event which is scheduled
from 26 to 28 December, 2014 read more
Wednesday, 24 December 2014
RBI may lift embargo on banks lending against gold
The Reserve Bank of
India may soon permit banks to resume lending against gold to jewellers.
The RBI is also looking at lifting the ban on import of gold coins and
medallions.
read more
Gold near 3-week low as stocks, dollar surge on strong US growth
Gold was trading
close to a three-week low on Wednesday as strong U.S. economic growth
boosted equities and the dollar, weakening safe-haven bids for bullion.
read more
Consumption of affordable gold jewellery among youth on a rise
The consumption of affordable gold jewellery among the youth is on the
rise worldwide, marking a clear shift from traditional gold models.
read more
GIA to host gemstone gathering in Myanmar in Jan 2015
Audiences in Myanmar
will have the opportunity to hear from GIA (Gemological Institute of
America) experts during the first-ever Gemstone Gathering in Mandalay on
Jan. 30. read more
Swarovski organizes Pure Brilliance Swarovski Zirconia education workshop in Bangalore
Swarovski organized Pure Brilliance Swarovski Zirconia education
workshop on Friday, 12th December 2014 at Hotel Citrine, Bangalore. The
workshop witnessed massive response from the Jewellers of entire
Karnataka and was a huge success.
read more
Tuesday, 23 December 2014
Quote of the day - 23rd Dec 2014
“We believe
the solution to meeting India’s enduring appetite for gold lies not in
restricting the import of gold, but in making better use of the gold
that is already in the country, making it a productive fungible asset
class like any other financial savings.”
Somasundaram PR, Managing
Director-India, World Gold Council
India's gold bar imports surge 49% in November: GJEPC
The Gems and
Jewellery Export Promotion Council (GJEPC) has released the details of
imports of raw materials for gems and jewellery for the month of
November this year. read more
Indians not averse to monetising gold holdings
The affinity Indians have towards gold is well-known. While they buy
gold both as investment or adornment, very few are willing to part with
it even in bad times. The country holds 22,000 tonnes of
above-the-ground gold stocks and buys around 850 tonnes every year, but
sells very less of its holdings. read more
Gold trades near three-week low as oil drop weighed with demand
Gold held near a three-week low as investors assessed prospects for
slowing inflation spurred by slumping oil prices against signs of rising
physical demand. Platinum was near the lowest level since 2009. read more
Jewellery stocks up on expectations of better sales this season
Share price of gems
and jewellery companies shot up by upto seven per cent on Monday due to
estimates of an improvement in margins this festive season.
read more
Israel inaugurates new manufacturing plant during Intl. Diamond Week
A unique diamond manufacturing facility will be inaugurated during the
International Diamond Week, which is scheduled for February 8 to12,
2015. A joint initiative of the Israel Diamond Exchange (IDE), the
Israel Diamond Manufacturers Association (IsDMA) and the Israel Diamond
Institute (IDI), read more
Monday, 22 December 2014
Quote of the day - 22nd Dec 2014
“Post 80:20
scrapping, gold imports continue to happen from dore refiners and
agencies other than banks on consignment basis. However, it is very
limited due to existing supply glut and slack demand due to price
sensitivity and seasonal reasons.”
Sudheesh Nambiath, Senior Analyst,
GFMS Thomson Reuters
'Increased wealth in China and India will support jewellery demand'
The economic drivers for jewellery demand are robust. The outlook for
two of the leading gold nations India and China is positive. In
India, over the past seven years, read more
Weak rouble may soften rough diamonds prices
As the rouble crisis
deepens, with the country staring at a possible recession, Russia the
largest diamond producing country in the world may increase its
diamond exports which may lead to a decline in rough diamond prices by
2-5%.
read more
12 edition of JJS witness grand success; Ruby theme attracts huge footfall
The Jaipur Jewellery Show 2014 underway at the newly built Jaipur
Convention Centre is witnessing an extraordinary spark of an altogether
different kind with the footfall, despite a new venue showing a swell.
Its all because of the Sparkle of the enchanting ruby theme. The JJS
2013 theme is red, rare and royal. read more
PN Gadgil Jewellers launches 'Gadgil Diamond Factory' in Mumbai
The pioneers in the
retail jewellery industry, with a legacy that speaks about heritage,
opulence and hard work, P. N. Gadgil Jewellers Pvt Ltd is now set to
exponentially explore the diamond jewellery market with their new
diamond factory. read more
Kareena Kapoor inaugurates Malabar Gold & Diamonds 122nd outlet in Dubai
Malabar Gold & Diamonds, a leading global jewellery retailer, is on a
major expansion spree with the launch of five new showrooms planned in
quick succession, starting today and concluding on January 3, 2015.
read more
Tara Jewellers ties-up with amazon.com
Tara Jewels said
that its jewellery will now be available online, the leading e-commerce
platforms Amazon.in. Star Princess, the distributor of Tara Jewellers
has tied up with Amazon, to launch the brand's collections on Amazon. read more
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