Tuesday 30 September 2014

Quote of the day - 30th Sept 2014

“We see online jewellery sales becoming a huge market in the next few years, contributing a good share to our business.”

R K Sharma, Director and Chief Operating Officer, PC Jeweller Executive

GIA announces new fee structure for Quality Assurance Services

The Gemological Institute of America (GIA) has implemented a new, lower-cost fee structure for Quality Assurance (QA) services. The service is specifically designed to screen parcels of read more

Flipkart ties up with PC Jeweller

E-commerce major Flipkart has joined hands with jewellery retailer PC Jeweller to create a platform for online jewellery shopping. read more

Gold down in Europe

Gold fell on Monday as downward pressure from a strong dollar outweighed support from unrest in Hong Kong, which hit global shares and led to some demand for the metal. read more

Pune Municipal Corporation plans jewellery design training centre for women

The civic administration is planning to set up a special 'jewellery design training centre' near Swargate to empower financially-weak women. read more

KDZ & Co reopens its newly revamped showroom in Mumbai

Keshavlal Dalpatbhai Zaveri (KDZ) & Co, widely known for their traditional and antique jewellery, reopens its newly revamped showroom at Hughes Road, Mumbai. Among the pioneers in making quality gold read more

China, Russia to collaborate on joint gem bourse

China and Russia are in talks to establish a joint trading exchange for precious and semi-precious gems. The Beijing Gold Exchange and the Beijing Financial Asset Exchange have authored a proposal read more

Monday 29 September 2014

2nd edition of Dazzling Dubai

Dr. Thomas - Consulate General of India in Dubai, UAE Inaugrating the 2nd edtion of Dazzling Dubai Jewellery Show at Hyaat Regency Dubai, organised by The Art of Jewellery

Quote of the day - 29th Sept 2014

“Trading links between India and UAE has existed for a long time. India exports to UAE has largest contribution from gems and gold jewellery sector. Dazzling Dubai is perfect platform to boost India’s jewellery export to UAE.”

Dr. Tiju Thomas, Consulate General of India, Dubai UAE

Quote of the day - 29th Sept 2014

“We understand that Standard Chartered is reducing exposure. This will hurt the industry at a time exports are down 10% and other banks have tightened financing requirement. The industry is suffering because of a few fly-by-night operators."

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

Quote of the day - 29th Sept 2014

"The jewellery demand in terms of volume from January to June compared to the same period last year is lowered by 14 per cent. But this is a short-term trend."

Vipin Sharma, Director- Jewellery, World Gold Council-India (WGC)

AOJ Exclusive: 2nd edition of Dazzling Dubai kick-starts today; receives overwhelming response

The second edition of Dazzling Dubai Buyer Seller meet opened today at Hyatt Regency, Dubai received overwhelming response of the first day itself. read more

Standard Chartered reduces the exposure to diamond sector

Diamond houses will soon knock on the doors of banks. British lender Standard Chartered Bank, one of the top financiers to the trade, has told several diamantaires in India and other countries read more

Gold holds 1200 $ ounce in spite of robust US data and strong dollar

Gold futures rose as a decline in U.S. equities reignited demand for an alternative asset. The Standard & Poor’s 500 Index of shares headed for the biggest losses since July. read more

Gold demand will increase: World Gold Council

The World Gold Council is confident that 2014 would end on a robust note in gold demand in India, contrary to the initial drop in the first half. read more

New gold exchange aims to catapult China into ranks of global bullion centers

China's first global physical gold market opened in Shanghai's pilot Free Trade Zone ahead of the zone's first anniversary. The aim of the market is to lift China's influence over worldwide bullion prices. read more

Kareena Kapoor inaugurates Malabar Gold 120th showroom in Kuwait

Malabar Gold & Diamonds, one of the leading jewellery retailers marks another milestone in its history by the opening of its 120th outlet in NBK building, Makkah street, Fahaheel, Kuwait. read more

Rio Tinto rolls out newest 3d mining-enhancing software

Mining giant Rio Tinto has announced that it has researched and developed a new technology that could very well cut down on a company's expenses while improving its efficiency, Diamond Intelligence reports. read more

Saturday 27 September 2014

YOUR RESPONSE: Informative content to keep us up-pace with the industry- Namit Jain

Reading in-depth reports and analytical articles in The Art of Jewellery magazine helps us develop an insight in to the market. It also helps us to promote our business in other cities by providing information about the jewellery industry of that particular city.

Namit Jain
Nagendra Sons Jewellers, Agra

YOUR RESPONSE: Indian jewellery designs in great demand- Sunil Verma

Our designers need to upgrade their skill-sets and come up with newer designs and so they keep referring The Art of Jewellery magazine to experiment with creative designs.

Sunil Verma
Kuldip Sons Jewellers (P) Ltd, Jamshedpur

YOUR RESPONSE: Indian jewellery designs in great demand- Niraj Kumar Guptha

Ever since I have been reading The Art of Jewellery I have realised that Indian jewellery designs appeal to jewellery buyers across the world.

Niraj Kumar Guptha
Mangatrai Pearls & Jewellery

YOUR RESPONSE: Vital source of information- Girish Oswal

The Art of Jewellery magazine keeps us informed about various exhibitions, events and national and international trade shows, which serve as platforms for us to showcase our collection and expand our reach.

Girish Oswal
Pravin Ornaments, Kolhapur

Friday 26 September 2014

Quote of the day - 26th Sept 2014

“The scope for logistics would increase through scrap gold collection and transportation to refineries. The jewellery logistics service in India is relatively stable and predictable.”

S Rajkumar, COO and Founder Director, Sequel Logistics

Gold extends losses as equities, dollar rise

Gold extended losses on Thursday, reacting to stronger equities and robust US economic data that curbed its safe-haven appeal, and the metal looked likely to fall back towards read more

'Jewellery logistics service is relatively stable and predictable'

The current market size of organized logistics services for this segment is approximately INR 500 crores per annum. Apart from this, there is a large element of un-organized logistics service market, read more

LBMA names Citigroup as gold, silver market maker

The London Bullion Market Association (LBMA) said on Thursday it appointed Citigroup as a market maker, underscoring the bank's ambitions to expand into the precious metals sector while others are exiting due to regulatory concerns. read more

China net gold imports from Hong Kong at lowest since May 2011

China net gold imports from main conduit Hong Kong tumbled in August to their lowest since May 2011 due to weak jewellery and investment demand in the world's biggest bullion consumer. read more

Vidya Balan inaugurates PC Jeweller's first showroom in Kolkata

After complementing different states and the taste of jeweller connoisseur all around the country, PC Jeweller has launched a new showroom in Kolkata in the presence of Bollywood actress Vidya Balan. read more

Russia, former Soviet states amp up gold reserves

Russia and ex-Soviet States Kazakhstan, Kyrgyz Republic and Azerbaijan continued to accumulate significant gold reserves in August. Latest official gold reserve data from the International Monetary Fund (IMF) read more

Thursday 25 September 2014

Quote of the day - 25th Sept 2014

“The worst isn’t over yet for gold after prices erased almost all of this year’s gain.”

Jeffrey Currie, Goldman Sachs Group Inc.

Gold premiums in India seen doubling on festival demand

Gold premiums in India, the biggest user after China, may double by the end of October as the fourth straight quarterly decline in local prices spurs jewelry purchases before the nation’s main festival season. read more

AOJ Exclusive: IIBS Summit: Arun Jaitley, Rajnath Singh and Kalraj Mishra likely to grace the event

The second edition of Indian Bullion and Jewellers Association (IBJA) event is likely to be graced by the eminent personalities like Arun Jaitley, finance minister, Rajnath Singh, read more

Gold downside risk seen 'significant': Goldman Sachs

Goldman Sachs Group Inc.’s Jeffrey Currie says the worst isn’t over yet for gold after prices erased almost all of this year’s gain. read more

Titan to accept deposits for jewellery purchase

Titan Company on Wednesday informed the BSE that its board of directors had approved the invitation and acceptance of deposits from customers for the purchase of jewellery read more

Weak gold prices has Dubai consumers clamoring for more

With local gold prices dipping below the Dh140 a gram (for 22-karat) level for the first time this year, it was enough to unleash a manic round of buying at jewellery stores in the UAE and the Gulf over the weekend. read more

Singapore offers gold-dispensing ATMs

Singapore has launched two Automated Teller Machines (ATMs) that dispense gold. The ‘Smart Gold ATMs’, painted in golden colour, are being launched at Resorts World Sentosa and Marina Bay Sands. read more

Wednesday 24 September 2014

Quote of the day - 24th Sept 2014

“The total demand for gold in India for calendar year 2014 is estimated to be between 850-950 tonnes, out of which upwards of 200 tonnes is likely to be served by the grey market."

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

Quote of the day - 24th Sept 2014

"The fall in bullion prices has restored confidence among local jewellers and exporters. They are hoping sales will be boosted in the coming season."

Pankaj Parekh, Vice-Chairman, The Gem and Jewellery Export Promotion Council

Around 200 tonnes of gold will enter India via grey route in 2014: WGC

Out of the total gold import demand in India in 2014, more than 200 tons almost 20 per cent -- would be served by the grey market, a top official of the World Gold Council said. read more

GJEPC's 41st Indian Gem and Jewellery Awards finalize the winners

The jury of the upcoming 41st Indian Gem & Jewellery Awards, met at Sofitel Hotel, Bandra-Kurla Complex in Mumbai on September 23, 2014 to finalize the names of the winners in all the categories. read more

To beat the 80:20 rule, bullion trade gets "innovative" in exporting gold

A section of the bullion trade is resorting to "innovative" ways to export gold in value-added form to overcome the hurdles posed by the 80:20 rule in importing the yellow metal. read more

Zaveri Bazaar to relocate to Opera House

Opera House known for its heritage structure will become the new gold market of Mumbai. According to the new plan, Mumbai’s famous gold market Zaveri Bazaar is planning to shift to its new location at Opera House read more

Jewellery stocks jumps to 20%

Stocks of jewellery companies jumped up to 20 per cent on Monday, owing to expectations the fall in bullion prices would lead to a sharp jump in retail sales during the coming festive season. read more

GSI conducts intensive one-day session in Nashik

The Gemological Science International (GSI) conducted an intensive one-day programme, which included a seminar followed by practical workshop for Adgaonkar Saraf Jewellers in Nashik, Maharashtra. read more

Tuesday 23 September 2014

Quote of the day - 23rd Sept 2014

“Gold demand will get a boost as festivals such as Navratra and Diwali approach.”

Ashish Shah, Head, AC Choksi Share Brokers Equity

Quote of the day - 23rd Sept 2014

“Now Antwerp Diamond Bank has decided to wind down its business, diamond traders might be required to fulfilling their lending obligations with the bank’s India branch within a short period.”

Vipul Shah, Chairman, The Gem and Jewellery Export Promotion Council

Falling gold price expected to improve demand

The falling price of gold is expected to improve its demand and, hence, import. The sector estimates a rise in the latter of five to seven per cent in quantity over the coming months read more

Antwerp Diamond Bank closure: Diamond traders fear liquidity crunch

With the Antwerp Diamond Bank (ADB) downing its shutters, traders here fear a liquidity crunch. KBC Group, the Belgian banking and insurance company, read more

Gemfields records $16m profit

Gemfields plc. reported that revenue rose to US $160.1 million for the fiscal year that ended on June 30, far surpassing revenue of US $48.4 million one year earlier. read more

Russia CB buys more gold and builds bilateral trade with China

While we will probably have to wait another few days until the IMF publishes its latest statistics for the global picture, the Russian central bank has announced that it has added another 9.3 tons read more

Rio Tinto Argyle diamonds generate excitement in Hong Kong

Rio Tinto iconic annual Argyle Pink Diamonds Tender, comprised of the best annual production of extremely rare red and pink diamonds, read more

Alrosa CEO resigns

ALROSA president and CEO, Fyodor Andreev, will resign from his position due to medical reasons, the company said. Ilya Ryashchin, ALROSA's senior vice president, read more

Monday 22 September 2014

Quote of the day - 22nd Sept 2014

"This year, we are receiving bulk orders from the US in the lower- to mid-end category, against higher-end diamond jewellery in previous years.”

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

Gold drifts lower; Silver hits 4-year low

Gold futures fell to an eight-month low as equities surged to a record, crimping demand for the precious metal as an alternative asset. read more