“India loves
gold and we believe in gold; so we look at India as a very important
market.”
Afshin Nabavi, Executive Senior Vice President-Trading, MKS
Switzerland
Friday 31 October 2014
Gold imports plunge after 4-fold jump in September
Gold imports by
India, the world’s second-biggest consumer, are poised to plunge this
month from September when festival demand fueled a more than four-fold
jump in shipments, a jewellers’ group said.
read more
Gold under pressure as most support weaken
Gold prices have
once again failed to hold on to the recent gains and are currently
testing key support levels. On Friday, spot gold prices were ruling
$1,203.62 an ounce, read more
Rio Tinto launches diamond jewellery television campaign in India
Rio Tinto has
released its latest television campaign to support Nazraana™, its
flagship diamond jewellery initiative in India.
read more
Russia buys most gold for reserves since 98
Russia boosted gold
reserves by the most since defaulting on local debt in 1998, driving its
bullion holdings to the largest in at least two decades.
read more
Jewellery shops in Saudi Arabia will close down if women allowed working in them: Experts
Almost every
jewellery shop in Saudi Arabia will close down if women are given the
opportunity to work in them, according to a Saudi international expert
on gold and jewels.
read more
Thursday 30 October 2014
Quote of the day - 30th Oct 2014:
“Domestic
markets have behaved better during Dhanteras and the US market primarily
has responded better."
Vipul Shah, Chairman, The Gem & Jewellery
Export Promotion Council (GJEPC)
Gold premiums in India soar on import restrictions buzz
Premiums charged for
physical delivery of gold shot up on Wednesday, in the wake of rumors
that the Reserve Bank of India (RBI) or the ministry of finance might
impose more restrictions on gold imports.
read more
India's silver jewellery exports gain momentum
Steep fall in silver
price has made silver jewellery more attractive in the overseas
markets, especially the United States and the European Union, where
sterling silver ornaments replaced white gold jewellery in the last few
years. read more
GJEPC urges Centre to grant banking licence to ABN Amro Bank to open branches in India
The Gems and Jewellery Export Promotion Council (GJEPC) has urged the
Central government that the Reserve Bank of India (RBI) to grant banking
licence to the Netherlands-based ABN Amro Bank NV, read more
Diamond trade back on track during the past two months
The diamond trade in
India has in the past two months managed to clear a substantial portion
of its polished-diamond inventory worth US $1.5 billion, or about Rs
9,150 crore, read more
Rajkot based bullion dealer admits to black money, skips Swiss
Of the three Swiss bank account holders named by the government, the
case of Pankajkumar Chimanlal Lodhai is the most curious. The rotund
gold and bullion dealer from Rajkot, read more
Wednesday 29 October 2014
Quote of the day - 29th Oct 2014
“Don’t just sell diamonds, sell relationships.”
Martin Rapaport, Chairman, Rapaport Group
Quote of the day - 29th Oct 2014
“We are anticipating a very good Christmas season for the diamond sector. The demand has increased in the lower and higher category goods.”
Chandrakant Sanghavi, Regional Chairman, The Gem and Jewellery Export Promotion Council (GJEPC)
Gold firms on weak US durable goods data; Fed eyed
Gold prices edged higher on Tuesday as softer-than-expected U.S.
consumer spending data pressured the dollar, ahead of a closely-watched
Federal Reserve policy statement.
read more
Diamond exports start looking up after steep slide
After witnessing a
continuous decline in the polished diamond exports since May-2014,
Indian exporters witnessed a resurgence in September as exports of cut
and polished diamonds along with gold jewellery (plain and studded)
started looking up.
read more
Ashwini Gold MD arrested for smuggling gold out of SEZ
The Indian Customs Department has decided to move court to issue arrest
warrant against the first accused in the case related to smuggling of
gold out of Special Economic Zone (SEZ) to jewelry shops. read more
Diamond bourses pull out of World Diamond Council AGM
The World Federation
of Diamond Bourses (WFDB) and seven others major organisations have
announced they are pulling out of the World Diamond Council’s (WDC)
annual general meeting, due to take place on 28 October.
read more
Malabar Gold & Diamonds launches customize jewellery on its Online Store
Malabar Gold & Diamonds is providing its online customer to make
jewellery purchases using two new features – Smart Buy and Custom
Jewellery, reports say. With these new features on its e-commerce portal read more
US diamond jewellery market plays a key role: Martin Rapaport
Putting America
first and stressing the importance of adding value in the U.S. diamond
and jewelry market was the cornerstone of a presentation by Martin
Rapaport, the chairman of the Rapaport Group, read more
Argyle pink diamond tender achieves record prices
Rio Tinto reported
that its annual pink diamond tender of rare pink and red diamonds from
the Argyle mine in Australia achieved the highest average price per
carat since the tender began 30 years ago.
read more
GSI opens laboratory in Surat
Gemological Science
International (GSI) a full-service, high-tech lab designed specifically
to meet the rapidly changing needs of the jewelry industry, has
announced the launch of its state-of-the-art laboratory facility at
Surat. read more
Tuesday 28 October 2014
Quote of the day - 28th Oct 2014
“Today,
young India wants platinum as it is considered a metal that speaks the
modern language with its contemporary design. It is established as a
symbol of the deepest relationships and is exclusive, unique and
expensive, which denotes status."
Vaishali Banerjee, Country Manager
India, Platinum Guild International (PGI)
Quote of the day - 28th Oct 2014
Antwerp Diamond Bank’s (ADB), decision to close will largely affect Antwerp-based diamantaires, mainly traders of rough diamonds. I hope they will find alternative funding arrangements to overcome this and continue the business.”
Shreyas K Doshi, Chairman, Shrenuj Group
No better days ahead if margins not improve: Diamond industry
The owners of
Antwerp Diamond Bank (ADB), whose closure announcement was a shock to
the trade as it had lent to several, including Indian firms, have
reportedly told borrowers they’d get enough time and terms to repay. read more
Platinum jewellery is gaining more favours among young Indian customers
Platinum customer
profile in India is getting younger. A recent survey shows that 85 per
cent of the metal's consumers in the country are in the age group of 15
to 30 years. read more
China gold imports rise to five-month high
China gold imports from Hong Kong in September rose to the highest in
five months as retailers and fabricators boosted purchases ahead of a
holiday sales season. Net imports totalled 61.7 metric tons last month,
the most since April, read more
Swarovski creates 88 Facets cut for Zirconia
Continuing its
dedication to advancing the range of zirconia products with stunning new
varieties, Swarovski launches the 88 Facets cut. Eight being a symbol
for infinity, the cut’s auspicious name speaks of good fortune and
happiness. read more
Iran is among world's six major gold consumers
Behrouz Borna,
deputy head of the Geological Survey of Iran, said Iranians buy about
400 metric tons of gold annually, Iran's ISNA news agency reported on
October 25. read more
World Diamond Council appoints new Executive Director
The World Diamond
Council (WDC) named Patricia Syvrud, the founder and president of Joia
Consulting LLC, as the organization's first executive director,
effective October 31, 2014. read more
104 carat d flawless unveiled by Chow Tai Fook
Chow Tai Fook will unveil a 104 ct. D color internally flawless round
brilliant- cut diamond on Nov. 28 in celebration of its 85th
anniversary.
read more
Monday 27 October 2014
Quote of the day - 27th Oct 2014
“We have
loyal customer base of over 20 lakh currently. In two years, we plan to
double our loyal customer base to 40 lakh as we enter new markets in
India and abroad.”
T S Kalyanaraman, CMD, Kalyan Jewellers
Quote of the day - 27th Oct 2014
“The jewellery sales in the north were very good experiencing nearly 15 to 20 per cent increase in sales compared to last year.”
Vijay Khanna, MD, Khanna Jewellers
Govt names Rajkot-based bullion dealer as black money account holder in Swiss Bank
The Union government has named Pankaj Chimanlal Lodya, a Rajkot-based
bullion trader and two others as the black money holder in a Swiss Bank.
read more
Gold jewellery sales increase 15 to 20% this Diwali
Gold sales in India
during Diwali and Dhanteras celebrated this week rose by nearly 15 to 20
per cent. Compared to the southern region the jewellery sales in north
were higher. read more
Suresh Jain appointed as new India Bullion & Jewellers Association (IBJA) president
In a surprise move,
Mohit Kamboj stepped down as the president of IBJA and Suresh Jain of
Royal Chains has been appointed as the new president of the association. read more
India’s gold jewellery exports shine in September; up 36% y-o-y
After the decline
seen last year, India’s exports of diamonds and gold jewellery are
expected to rebound in FY2014-15 with exports of these items recovering
significantly in September 2014.
read more
KGJS 2014 roadshow kick starts from Cochin
The 7th edition of Kerala Gem and Jewellery Show (KGJS 2014) road show was kick started from Angamaly (Cochin) on a successful note. Jose Thetiyill, MLA was the chief guest on the event held at Hotel...read more
Organised jewellery chains catch fancy of PE investors
October 20, US
private equity (PE) major Warburg Pincus announced its Rs 1,200-crore
investment in Kerala-based Kalyan Jewellers for an undisclosed stake. read more
Ebola outbreak affects gold-mining firms in Africa
A Birmingham gold-mining firm has been forced to put its project in Liberia on hold due to the Ebola outbreak.
read more
Tuesday 21 October 2014
Quote of the day - 21st Oct 2014
“We have made
a proposal to the Ministry of Commerce a similar notified zone for
Surat so that the upcoming bourse there also benefits."
Vipul Shah,
Chairman. The Gem and Jewellery Export Promotion Council (GJEPC)
Quote of the day - 21st Oct 2014
“India’s
attachment to gold is unlikely to break. This tradition has lasted for
centuries. It’s a symbol of wealth or a form of investment, and the
precious metal is deeply rooted in worship and culture.”
Howie Lee,
Investment Analyst, Phillip Futures Pte
Diamond industry calls for notified zone in Surat too
Even as discussions
are on for a special notified zone with tax benefits in Mumbai, the
diamond industry is seeking a similar zone in Surat too. read more
Harikrishna Exports gifts cars, jewellery, flats to employees as Diwali Bonus
Surat's diamond industry may still be struggling to regain its sparkle
after the economic slowdown but about 1,200 employees of local firm Hari
Krishna Exports have ample reason to celebrate this Diwali. read more
Gold buying rebounds in India on diwali jewellery sales
Shweta Anand took
half a day off work to get a jump on India’s jewelry shopping spree
before the Hindu festival of Diwali, and she was looking for bargains. read more
Forevermark unveils new global marketing campaign
Forevermark, the
diamond brand from The De Beers Group of Companies has unveiled its new
global marketing campaign that aims to inspire people to renew their
belief in the power of a promise read more
GIA Researchers Visit Emerald Mines in Zambia
In September 2014, a
team of field researchers from the Gemological Institute of America
(GIA) traveled to Zambia to collect emerald samples for the Institute’s
gem identification database and to document the current state of Kagem, read more
ALROSA's 3Q Production falls 2%
ALROSA sold approximately US $1 billion worth of diamonds during the
third quarter that ended on September 30, according to the company's
preliminary estimate. ALROSA sold 5.3 million carats of gem-quality
goods with an average price of US $182 per carat read more
Monday 20 October 2014
Quote of the day - 20th Oct 2014
“The world’s largest private equity fund Warburg Pincus has invested Rs 1200 cr in our company for a minority stake. This is big step forward in taking our company to an international standard of capitalization and growth.”
Rajesh Kalyanaraman, Executive Director, Kalyan Jewellers
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