The Art of Jewellery: August 2014

Saturday, 30 August 2014

Readers Response: Special issue on 30 cities: Timely & informative- P Kamalakannan

The ‘IIJS special issue’ on 30 emerging cities was very interesting. Different articles on each city describing the history, growth, lifestyle and jewellery trade were well written and informative. This special edition is certainly a keeper.

P Kamalakannan
Proprietor
Senthilmurugan Jewellers,
Madurai

Readers Response: Special issue on 30 cities: Timely & informative- Ankush Jain

The Art of Jewellery Magazine is extremely well written and presented. The recent coverage on 30 emerging jewellery destinations of India was very comprehensive indeed and simply wonderful.

Ankush Jain
Proprietor
Ankush Jewellers,
Vishakapatnam

Readers Response: Special issue on 30 cities: Timely & informative- Jitesh Malpani

The Art of Jewellery’s special issue on 30 Most promising cities of India for jewellery business was totally informative and unique. It gives an opportunity to expand our business to all such cities which have a great potential and excellent market for the jewellery business. This piece of information provided is very vital for us and the credit must go to the AOJ team for bringing it out at the right time.

Jitesh Malpani
Proprietor,
Geet Jewels,
Jaipur

Friday, 29 August 2014

Readers Response: UID for hallmarking—a curse on jewellery trade- Sanjay Jain

The decision of the BIS regarding introducing UID for hallmarking is a curse on the jewellery trade. We are already going through a tough time. Now, this UID for hallmarking is going to let us think in terms of relinquishing our license. In all the discussions there has not been given any plausible reason for the introduction of this scheme. Malpractices if there are any at the hallmarking centers needs to be curbed by all means so that no item is hallmarked for its wrong purity.

But if it is implemented in the proposed way then I think jewellers will stop getting the jewellery hallmarked in advance. When selected, he will get it certified and then give it to the customer. Otherwise the task involved in keeping the cards and then tracing it at the time of the sale is not possible. A renowned magazine like you should take the initiative in this regard by collecting the opinion from the jewellers across India and then send it to the BIS authorities.

Sanjay Jain
Director
Royal Lifestyle Jewellers Pvt Ltd
Bhatinda

Thursday, 28 August 2014

Wishing you all A Happy Ganesh Chaturthi

Quote of the day - 28th Aug 2014

“Gold premiums have increased to $8-11 an ounce from $3-4 since early last week, as jewellers stock up on inventory ahead of the festival season amid signs of a gradual pickup in consumer demand.”

Sudheesh Nambiath, Senior Analyst, GFMS Thomson Reuters

Gold premiums widen as jewellers stock up in anticipation of festival demand

Gold premiums, or prices charged by suppliers in excess of the gold rate, have increased to US $8-11 an ounce from US $3-4 since early last week, read more

Silver futures rise on global cues

Silver prices went up by Rs 207 to Rs 42,140 per kg in futures trade today after participants built-up speculative positions, largely driven by a firming trend overseas. read more

AOJ Exclusive: AOJ Media to lead Indian jewellers’ delegation to FACETS Sri Lanka 2014

AOJ Media Pvt Ltd., the publishers of The Art of Jewellery, India’s No: 1 magazine for the jewellery sector, is leading a delegation of sixteen jewellers from India to Srlikanla. read more

Tiffany reports strong growth in second quarter

Tiffany & Co. reported that revenue rose 7.2 per cent year on year to US $992.93 million in the second fiscal quarter that ended on July 31. Same-store sales increased 3 per cent. read more

9th China Gold & Precious Metals Summit 2014 to take place in December

The 9th China Gold & Precious Metals Summit 2014, an annual precious metals gathering co-hosted by the Shanghai Gold & Jewelry Trade Association and IG Vision International Corporation Shanghai and jointly endorsed read more

First Phase of Panama Gem & Jewelry Center near completion, 80% of office space already leased

As construction of the Phase I building at the Panama Gem & Jewelry Center near completion, the Panama Diamond Exchange reports that about than 80 per cent read more

Wednesday, 27 August 2014

Quote of the day - 27th Aug 2014

“Gold prices are in a consolidation and correction mode. There will be opportunities to buy on declines.”

Chirag Mehta, Fund Manager, Quantum Asset Management

GJEPC Artisan Awards 2014 receives 800 artworks nationwide

An afternoon filled with awe and excitement, the Gem and Jewellery Export Promotion Council of India (GJEPC), hosted the first round of screening for the Artisan Awards 2014. read more

JMA's 10th state conference meeting held in Thrissur

Jewellery Manufacturers Association-Kerala (JMA) recently held its 10 state conference at Hotel Elite International, Thrissur, which was inaugurated by Adv. read more

Gemological Science International (GSI) launches Joy Box campaign

Gemological Science International (GSI) launched Joy Box campaign, a social initiative for Each One Each One (EOTO), ‘Educate a Child, Discover a Personality’ read more

Gold rises in Europe

Gold rose on Tuesday after a pause in the dollar rally prompted a break above US $1,280 an ounce that triggered chart-based buying, but gains were expected to be limited as optimism grows read more

Platinum imports of China down for fifth month

Platinum imports of China fell y/y for the fifth consecutive month, to their lowest level since February 2013. According to Barclays, Chinese platinum imports fell to 152.9koz, read more

Tuesday, 26 August 2014

AOJ Exclusive: Quote of the day - 26th Aug 2014

“Much of gold weakness is due to poor fundamentals. Data from the World Gold Council (WGC) showed that the physical gold demand remained weak in the second quarter, especially in key markets such as China and India.”

The Art of Jewellery

Quote of the day - 26th Aug 2014

“The watch segment is growing; especially the premium watches which has created a niche among Indians. The premium jewelled watches are the latest trend flaunted by men today.”

Pratap Kamath, Managing Director, Abaran

AOJ Exclusive: Gold may remain depress on global cues, slow demand and strong rupee

Gold may continue to remain under pressure in near term as global headwinds, firmness in rupee and poor physical demand will weigh on local prices. MCX October gold contract my test lower level of Rs 27,700 per 10 gram in coming days, read more

Jewellers Association Show 2014 successfully holds its eight edition

The 8th edition of the Jewellers Association Show (JAS) 2014 opened on August 22, 2014 at Birla Auditorium, Jaipur was successfully conducted on a positive note. read more

GJEPC signs MOU with Guangzhou Panyu Economy and Trade Promotion Bureau

The Gem and Jewellery Export promotion Council (GJEPC) in its endeavour to provide an impetus to the exports of Gems and Jewellery from India has signed a Memorandum of Understanding (MOU) read more

Abaran ties up with Rolex; soon to launch exclusive boutique at its store

One of the leading jewellery stores, Abaran ties up with leading premium watch maker Rolex. It is the only jeweller in Karnataka and second jeweller in south India read more

IDE announces postponement of International Diamond Week

The Israel Diamond Exchange announced today it is postponing the summer edition of the Israel Diamond Week, originally scheduled for September 1-4. read more

Forevermark Diamonds launches in Goa

Forevermark, the leading diamond brand from The De Beers Group of Companies announced its arrival in Goa with one of India’s leading jeweller- Chintamanis. read more

Monday, 25 August 2014

Quote of the day - 25th Aug 2014

"We are not against the marketing of synthetic diamonds. But manmade stones should be disclosed upfront, there should be proper certification and clear branding. It's absolutely essential that the two types of stones have differential import tariffs.”

Vipul Shah, Chairman, The Gem and Jewellery Export Promotion Council (GJEPC)

Quote of the day - 25th Aug 2014

“We have identified land for SEZ for diamonds in Surat and I am hopeful that the project will be set up in next month or two.”

Saurabh Patel, Finance Minister, Govt of Gujarat

Quote of the day - 25th Aug 2014

“We would ensure that land is allotted to the gem bourse at the earliest and the project will go a long way in making Jaipur an international hub for gemstone and jewellery.”

Ashok Parnami, State President- BJP, Rajasthan

Diamond Cos alert over synthetic diamond adulterating the business

In the past few months, the diamond bourse in Mumbai and several dealers of the stone installed a small, black machine in their offices. read more

State Govt assures land allotment for Gem Bourse in Jaipur

The proposed gems bourse in Jaipur that remained in a limbo is likely to see light of the day as the state political leadership on Friday promised to remove hurdles for the project, read more

Surat to have India's first diamond SEZ soon: Saurabh Patel

After courting success with an array of special economic zones, Gujarat is now proposing to set up an only-for-exports hub for diamonds at Surat, possibly the first of its kind in India. read more

Reliance Jewels discontinues it jewellery purchase scheme

Reliance jewels disconnected its gold jewellery scheme with immediate effect and no fresh or further subscription/ instalments. read more

Kirtilal Jewellers celebrates 75 years of legacy; Ustad Amjad Ali Khan graces the occasion

Kirtilals, Indias premium diamond and gold jewellery brand, revered by its patrons, launched its new showroom today with largest and splendid range of diamond and gold jewellery collections in Jayanagar. read more

SGL launches lab in Dubai

Solitaire Gemmological Laboratories (SGL) on the 21st of August launched the opening of its 11th location in Dubai. Having launched a laboratory equipped to cater to the growing concerns read more

JAA Ahmedabad to organise 'Swarn Utsav’ after a gap of 10 years this October

In a bid to recover losses being incurred by jewellers in the past six months from slow business and regain the interest of consumers as well as investors in gold, read more

Winsome Diamonds Fraud: Emerges as the largest maker of synthetic diamonds

Winsome group, Indias largest bank defaulter with loan outstanding bigger than Kingfisher’s, has emerged as the world's largest maker of synthetic diamonds. read more

Jewellery shares gain on hopes of export orders

Shares of gems and jewellery makers have firmed up two to five per cent on hopes of export orders from the US ahead of the festive season after recent data showed that read more

Friday, 22 August 2014

Readers Response: Special issue on 30 cities: Timely & informative- Abhiyant Raniwala

Your Special issue was released at the right time when almost all the jewellers were looking for new areas to expand their business. This issue highlighted some of the key points of tier 2 and 3 cities such as type of jewellery preferred by localities, specialty of the city and its future growth. These three points are the key elements for any jeweller who wants to start his business in a new city.

Abhiyant Raniwala
Director,
Raniwala Jewellers,
Jaipur

Readers Response: Special issue on 30 cities: Timely & informative- Ranjendra Kumar Jain

In the last couple of years a lot of tier II & III cities in India have gone through so many events, developments and changes that many of us don’t really know where they stand in terms of rankings. It was a good initiative to write about these cities and highlight their potential.

Ranjendra Kumar Jain
Owner
Shermal Jain Jewellers,
Secunderabad

Readers Response: Special issue on 30 cities: Timely & informative- Dinesh Jain

The special issue of The Art of Jewellery was very informative. Since we are in the jewellery business from a long time, we always look for new opportunities and this special issue has provided us ample information that could prove very vital for our future business in these cities.

Dinesh Jain
Director
Mukti Gold Pvt. Ltd.,
Mumbai

Readers Response: Special issue on 30 cities: Timely & informative- Tejas Soni

Your content is always informative but this IIJS Special on 30 cities is vow issue--you have raised the bar and now we expect your magazine to continue providing us such information which will help us in expanding our business.

Tejas Soni
CEO
KT Lifestyle Pvt. Ltd.,
Mumbai

Quote of the day - 22nd Aug 2014

“We are happy to present the 8th edition of JAS 2014. We have seen a growth of 50% in the registration this year and with the new BJP Govt we are hopeful to have a Gem Bourse in Jaipur with in next one year.”

Promod Derewala, Chairman, Convener, JAS 2014

Quote of the day - 22nd Aug 2014

“Perhaps at some point when we are more comfortable and start earning more from other exports, maybe we can import more gold.”

Arvind Mayaram, Finance Secretary, Govt of India

Quote of the day - 22nd Aug 2014

Gold smuggling could hit as much as 200 tonne this calendar year compared with around 150-200 tonne a year ago.”

Somasundaram PR, Managing Director –India, World Gold Council (WGC)

Quote of the day - 22nd Aug 2014

“We are targeting to refine 80 tonnes of gold this year. We will be able to refine more gold because global miners are showing increasing interest to supply raw material to us.”

Rajesh Khosla, Managing Director, MMTC-PAMP India Pvt

Gold smuggling may hit 200 tonne in 2014: WGC

Gold smuggling into India will likely remain high in 2014 despite the recent attempt by the Reserve Bank of India to ease supplies by allowing more entities to import bullion, read more

Ecstatic journey of JAS 2014 begins today in Jaipur

The eighth edition of the Jewellers Association Show (JAS-2014) at Birla Auditorium, Jaipur, took off in the presence of chief guest Ashok Parmani, BJP president of Rajasthan read more

MMTC-PAMP to refine 78% more gold in FY 15

MMTC-PAMP India on Thursday said it aims to refine 80 tonnes of gold this fiscal, up by 78 per cent from last fiscal, as global miners are keen to supply raw materials read more

Stronger US economy pulls gold prices down

Gold declined in early Thursday trade at Zaveri Bazaar here, following a trend in markets abroad as the yellow metal went down on an indication of a strengthening American economy. read more

Alrosa calls for mandatory marking of synthetic diamonds

Alrosa has called for mandatory disclosure of synthetic diamonds, Vladlen Nogovitsyn, head of customer policy said. The Yakutia based diamond company’s initiatives on regulating the synthetic diamond trade read more

Central banks buying gold firmly in 2014

Gold Buying by central banks has continued ahead of recent averages in 2014, according to several analysts' notes. "Central banks remained firmly on the buy-side of the gold market" in the first half of the year, read more

Thursday, 21 August 2014

Quote of the day - 21st Aug 2014

“The government may keep a rule that requires importers to supply 20 per cent of their cargo to jewellers for re-export or introduce a system of quotas or licenses.”

Rajesh Khosla, Managing Director, MMTC-PAMP India Pvt

Quote of the day - 21st Aug 2014

“Every time we take the D-Show to a new city, we witness overwhelming support from industry luminaries and long-standing IGI partners. With the D-Show Bangalore, we look forward to strengthening these partnerships while building newer ones, and exploring our future prospects in the South Market".

Tehmasp Printer, Managing Director, International Gemological Institute (IGI)