Friday 28 November 2014

YOUR RESPONSE: Cover stories provide the latest happenings of the industry- Sanjeev Gandhi

The Art of Jewellery magazine’s presentation is totally outstanding. Once you get your hand on to the magazine, you can’t resist yourself from going through it. I like to read the reviews and cover stories as they update you with the current happenings of the industry.

Sanjeev Gandhi
S Gandhi Jewellers Pvt. Ltd. Indore

YOUR RESPONSE: Focus on world gold and diamond market- Meenu Paul Khanna

The magazine is excellent with good amount of information. Apart from domestic markets, it should also focus on world gold and diamond markets so that its customers will be globally updated.

Meenu Paul Khanna
Le Khanna Jewellers, Ludhiana

YOUR RESPONSE: More information on manufacturers- Anuj Gupta

Overall the magazine is excellent, it provides ample amount of information about the jewellery industry and helps us to keep in pace with the industry. Few more articles on manufacturer and manufacturing industry should be added in this magazine.

Anuj Gupta
Ratan Chand Jwala Nath Jewels, Gurgaon

YOUR RESPONSE: Excellent team work- Narayan Khatri

The Art of Jewellery Magazine is a complete package which delivers in and out information about the jewellery industry. The entire team associated with the magazine should be complemented for their excellent performance and I hope it will continue in the future as well.

Narayan Khatri
D.N. Jewellers, Nagpur

YOUR RESPONSE: Excellent team work- Jayaram V V

Only a hardworking and dedicated team can pull out such a lovely product. The magazine is a vital source of information for us and it keeps us updated with the latest trends in the business. I feel that the company should introduce a ‘whatsapp’ service as well which will help us to send and receive latest jewellery designs immediately.

Jayaram V V
Rajeshwari Jewellers, Coorg

Quote of the day - 28th Nov 2014

“The association has decided to reduce the gold charges from 93.5 to 91% in order to curb the fake advertisers .”

Jayantilal J Challani, president, MJDMA

Quote of the day - 28th Nov 2014

"Gold has intrinsic value. So anytime is a good time to purchase gold,''

Mr C K Venkataraman, CEO, Jewellery Division, Titan Company

Price was leads MJDMA to change 22k gold rates from 93.5% to 91%

Madras Jewellers & Diamond Merchants Association (MJDMA), Chennai has decided to change low wastage rates from 93.5 to 91 per cent. This step has been taken to save the industry from read more

IGJME Inaugurated; show bigger and more Diverse than last year

The second edition of the India Gem & Jewellery Machinery Expo (IGJME) at the Surat International Exhibition and Convention Centre, Sarsana, has larger and more diverse exhibitor participation than last year, read more

Mumbai gold premiums slip but Nov imports could exceed 100 Tons again

Gold premiums in Mumbai have dropped after the start of the Indian wedding season but November imports could well exceed 100 tons for the third month running, according to early indications. read more

Gold extends losses to third day as oil prices plunge

Gold extended losses into a third session on Friday and was headed for a weekly drop on expectations that plunging oil prices could sap inflationary pressure, curbing the metal's appeal as a hedge. read more

Sequel Logistics awarded SME Business Excellence Awards 2014

The Times Group, Federal Bank and Dun & Bradstreet joined hands to launch the “SME Business Excellence Awards 2014” to recognize India’s leading SMEs. The awards programme was conceptualized under the theme read more

Wealthy Singaporeans Increasingly Keen on Jewellery Purchases

Singapore is becoming a booming retail market for jewellery. Having traditionally acted as a link in the diamond supply chain between Antwerp and India, today, read more

IDI launches holiday B2B sales Platform

The Israeli Diamond Industry is gearing up for Cyber Monday with a pop-up B2C e-commerce platform for loose diamonds and diamond jewellery, launched by the Israel Diamond Institute Group of Companies (IDI). read more

Thursday 27 November 2014

Quote of the day - 27th Nov 2014

"India Gold Policy Centre will be a world-class centre of excellence, conducting applied research on Indian gold industry."

Somasundaram PR, MD- India World Gold Council (WGC)

Buyers in Coimbatore flock to jewellery stores as gold prices slump

Buyers in Coimbatore city flocked to purchase gold on Wednesday, as prices stood at Rs 26,450 for 10 grams yesterday, and further fell to Rs 26, 355 rupees today. read more

WGC, IIMA to set up Gold Policy Centre in Ahemdabad- Financial Express

The World Gold Council (WGC) and the Indian Institute of Management, Ahmedabad are setting up a gold policy centre to conduct research into how the yellow metal can benefit the country. read more

ALROSA reopens sales office in Dubai

ALROSA suspended its ARCOS east sales office at the Dubai Multi-Commodities Centre (DMCC) during the market downturn in 2009, but the decision to reopen the sales office this month was read more

PAMP appoints Gold Holding as its exclusive distributor for gold in Saudi Arabia

Gold Holding Ltd., the first integrated gold investment company headquartered in the UAE to ensure the delivery of the highest quality services from mining to refining to trading and distribution, and PAMP S.A, read more

HSBC and Goldman sued for allegedly fixing metal price

The four companies are said to have rigged prices for eight years. BASF and Standard bank were also sued in the first lawsuit of its kind in the US. The four defendants declined to comment. read more

Wednesday 26 November 2014

Quote of the day - 26th Nov 2014

“The lack of a clear price signal, as well as continuing to digest last year’s demand surge, caused investors to hold back from buying gold."

Marcus Grubb, Managing Director, World Gold Council (WGC)

Gold to breach $1,200/ounce

Option prices of gold and crude oil traded on US-based CME group, the world's largest derivatives marketplace, indicate that while the yellow metal could become costlier for domestic users, read more

Govt probing gold import via Switzerland route

Following reports of a sharp increase in the import of gold from Switzerland, Indian authorities have started investigating whether unaccounted money parked by Indians in banks these is entering India in the form of gold. read more

Indian jewellery demand surges to second-highest Q3 on record

Jewellery demand in India in Q3 2014 surged to the second-highest level ever for the third quarter at 182.9 tonnes, according to the World Gold Council. read more

China’s gold imports rise for a third month on jewellery sales

China's gold imports from Hong Kong rose for a third month as increasing jewellery sales countered weakening demand for the metal as an investment amid falling prices. read more

Tiffany sparkles on strengthening US sales

Tiffany, the worlds second-largest luxury jewellery retailer, rose the most in six months after higher-than-projected sales in the Americas helped make up for a slowdown in Asia last quarter. read more

Gemfields Recovers 40-Carat Ruby

Gemfields recovered a 40.23-carat rough ruby at tis Montepuez deposit in Mozambique. Given the significance of this stone, Gemfields committed to follow the gemstone from mine to market and its ultimate home. read more

Tuesday 25 November 2014

Quote of the day - 25th Nov 2014

“We still expect interest rates to be hiked next year in the US  and possibly more quickly than the market currently anticipates that will pressure gold.”

Georgette Boele, Analyst, ABN Amro

Jewellery industry takes steps to eliminate "conflict gold"

Major US jewellery companies and retailers have started to take substantive steps to eliminate the presence of “conflict gold” from their supply chains, according to the results of a year-long investigation published Monday. read more

Gold premiums down with lack of action on expected import curbs

Despite a series of meetings at the Union ministry of finance in the past fortnight, the much-discussed import curbs on gold have yet been announced. As a result, read more

Rajesh Exports procures multimillion-dollar gold export order

Rajesh Exports, the leading Indian gold exporter, announced that it has bagged a massive export order from UAE-based jeweler. The company has reportedly secured an export order worth Rs 1,350 crore from Al Sultan Jewellery, read more

Blue stone looks to go hybrid with launch of physical stores, the Ratan Tata-based online jewellery firm, says the company was expecting its revenue to go up to Rs 100 crore this year, from Rs 25 crore last year. read more

Dubai to make world's longest gold chain

Dubai will make a bid for yet another Guinness World Record to its name with the world’s longest 22 carat gold chain measuring five kilometres and weighing 180kg. read more

Gold smuggling increases to beat new tariffs

It looks like any of the other independent jewellery shops in the coastal city of Ernakalum, southern Kerala. The glass shop front sits within Broadway Market: three hundred wholesale outlets selling spices, electronics, jewellery and textiles. read more

Monday 24 November 2014

WFDB president calls for ‘immediate action’ on diamond grading

The president of the World Federation of Diamond Bourses (WFDB), Ernie Blom, has released an open letter claiming the diamond industry is facing a challenge to its integrity and lack of consumer confidence. Read More

GIA explores Ruby, Sapphire in Malawi

In 1958, a ruby and sapphire deposit was discovered about 145 kilometers south of Malawis capital of Lilongwe on Read More

Tanishq announces its collaboration with jewellery designer Farah Khan Ali in Mumbai

Diamonds are supposed to be a girls best friend. And what if you were to come by a collection that not only redefines diamond jewellery, but is also regal, Read More

IDI launches e-commerce platform for loose diamonds and diamond jewellery

The Israeli Diamond Industry is gearing up for Cyber Monday with a pop-up B2C e-commerce platform for loose diamonds and diamond jewelry, launched by the Israel Diamond Institute Group of Companies (IDI).Read More

Indias Oct. polished exports falls 15%

Indias polished diamond exports fell 15 per cent year on year to US $2.219 billion in October, data published by the Gem and Jewellery Export Promotion Council (GJEPC) showed. By volume, exports dropped 16 per cent to 3.786 million carats, while the average price of the exports rose two per cent to US $686.78 per carat. Read More

Diamond miners should get tax sops in notified area: SDA

The Surat Diamond Association (SDA) has urged the central government to make special provisions to provide tax concessions to diamond miners across the world setting up their trading offices in the diamond-notified area proposed to be set in the city by the ministry of commerce and industry. Read More

Gold edges up on improved demand amid overseas support

Gold prices gained marginally after sliding over the last two sessions at the domestic bullion market today due to renewed offtake by jewellery stockists and traders to meet seasonal demand. Read More

Quote of the day

"The diamond-notified zone, as we understand, would play a pivotal role in establishing Surat's image as the world's rough diamond trading centre.”
Dinesh Navadia, President, Surat Diamond Association (SDA)

Saturday 22 November 2014

YOUR RESPONSE: Excellent team work- Hiren Vakharia

I really like the content of the magazine and its design. The credit should be given to the team of designers and editorial department for providing valuable information.

Hiren Vakharia
D.P. Jewellers, Akola

YOUR RESPONSE: Few more pages should be added in the design segment- Ritesh Jain

‘The Art of Jewellery Magazine’ is the best magazine I have ever come across. It has a rich content and a wide range of articles. I think few more pages should be added in the design segment.

Ritesh Jain
Neel Padam Jewels, Delhi

YOUR RESPONSE: Great speakers and wonderful networking opportunity at IIBS- Saiyam P Mehra

The IIBS 2014 had a terrific line-up of speakers and some great debates along the way. Certainly, it was far better than anything the bullion industry ever put together.

Saiyam P Mehra
Unique Chains Pvt Ltd, Mumbai

YOUR RESPONSE: Great speakers and wonderful networking opportunity at IIBS- Mahendra M Chordia

The summit was a great way for the industry people to find out what is going on in the jewellery and bullion industry. The summit has been very enjoyable with a great selection of speakers; with lots of interesting things to take away and apply in different areas of our operations.

Mahendra M Chordia

Chairman & Managing Director
Swarnsarita Gems Ltd, Mumbai

Friday 21 November 2014

Quote of the day - 21st Nov 2014

"Gold has become more a currency than a commodity and increasing the duty will only encourage smuggling and new restrictions will further impact availability. Gold deposit schemes should be encouraged."

Prithviraj Kothari, Managing Director, RiddiSiddhi Bullions Limited

Quote of the day - 21st Nov 2014

“It’s not easy to work with franchisees, as we were doing in the past couple of years. We could only sell watches and fragrances through them, as they did not have the cash reserves for jewellery.”

Jean-Christophe Babin, CEO, Bulgari

Six trading houses misuse 80: 20 rule, imports 40 per cent gold in September

The case for curbing gold imports may have been strengthened after data compiled by the Government showed a surge in inward shipments of the metal by star trading houses in recent months. read more

Russia adds 18.6 tonnes of gold to reserves

Russia has sustained its efforts to stockpile gold as its rouble continues to take a beating on international markets, adding 18.6 tonnes in October, according to the Central Bank of the Russian Federation’s figures. read more

Gold steady as price drop tempts buyers

Gold rose on Thursday as the previous day's 1 per cent drop lured price-sensitive buyers, though gains were limited by dollar strength after Federal Reserve minutes suggested the United States is still likely to raise interest rates next year. read more

Bulgari re-enters Indian market

Italian jewellery brand Bulgari, which was acquired by French luxury group Moet Hennessy Louis Vuitton (LVMH) in 2011, has re-entered the Indian market, unveiling a store at Delhi’s DLF Emporio mall on Thursday. read more

Semi-final round of the Artisan Jewellery Design Awards 2014 held in Mumbai

Jury members of the Artisan Jewellery Design Awards 2014, organized by the Gem and Jewellery Export Promotion Council (GJEPC), shortlisted 12 winners out of the 40 finalists at the semi-final round held at hotel Grand Hyatt, read more

Gold worth Rs 87 cr of 350 kg seized at IGIA since April

From baggage trolley stickers to microwave ovens, gold smugglers have found new ways to smuggle in the metal into the country after import duty on gold was hiked to 15 per cent. read more

Haribhai P Choudhary felicitated by the diamond industry

The newly appointed Minister of State for Home Affairs in the Modi Government, Haribhai P Choudhary was felicitated by the diamond industry bodies at a grand event held on November 20, 2014, read more

Biggest price moves in gold in Asian hours puzzle jittery traders

Some of the biggest price moves in gold since late October have, unusually, occurred in Asian hours and traders more accustomed to following the lead of their western counterparts suspect a big increase in algorithmic trading may be to blame. read more

Thursday 20 November 2014

Quote of the day - 20th Nov 2014

“If consumption reduces, overall demand will come down and government should also focus on increasing domestic production as India has gold reserves which can be mined.”

Rajesh Mehta, Chairman, Rajesh Exports

Falling prices prompt gold restocking

Jewellers across the country are replenishing their inventory with the slide in gold prices. It is estimated that a fourth of the 225 tonnes of gold imported in the two months read more

Curb sales of gold coins and bars: Trade Body

India's largest gems and jewellery federation has proposed its members curb sales of gold coins and bars in an effort to prevent the government from imposing import restrictions on gold after an increase in inbound shipments. read more