Saturday 28 February 2015
Friday 27 February 2015
Quote of the day - 27th Feb 2015
"The gems and jewellery
sector is upbeat and have pinned very high hopes from the upcoming budget on
February 28. There are indications that the new government at the centre may
take pro-active measures to increase gems and jewellery export which constitutes
15 per cent of the total export basket of the country."
Vipul Shah, Chairman, GJEPC
Commerce Ministry seeks cut in gold import duty in its Budget recommendations
With a decline in gold imports, Commerce Ministry has sought reduction in import duty on gold, a step that could boost exports and manufacturing of gems and jewellery. "We have been asking for a cut in gold import duty," Commerce Secretary Rajeev Kher told reporters on the sidelines Read More
India imports 60 % of gold from Switzerland in 2014
As much as three-fifths of Indias total gold imports last year came from Switzerland, reflecting a significant jump in just a couple of years. India imported 471.9 tonnes of gold from Switzerland in 2014, according to precious metals consultancy GFMS Thomson Reuters that quoted a country-by-country breakdown of gold imports and exports Read More
Indian gold jewellery exports double in the ten months of FY15
After facing a dull season in 2013, gold jewellery exporters from India have a big reason to cheer. The gold jewellery exports have almost doubled in the ten months of FY15 (April 2014 to January 2015) compared to same period in previous year Read More
Gold advances on Chinese demand; ends the four-week losing streak
Gold advanced for the third session on Friday and was on track to end a four-week losing streak, supported by firm Chinese demand and a change in views on US interest rates Read More
Mehta Gold Pvt Ltd launches its new manufacturing facility
Bangalore based Mehta Gold Pvt Ltd launched its brand new manufacturing facility at Nagrathpet, Bangalore. With the capacity of producing 100 kg per month, the unit is expected to facilitate the company needs in an effective manner Read More
Diamond cutting and polishing pockets in Saurashtra and North Gujarat regions under scanner
The small diamond cutting and polishing pockets in Saurashtra and North Gujarat regions are under scanner following recovery of 110 synthetic polished diamonds from traders in Surat's Mini Bazaar diamond market Read More
Antwerps Rough Diamond Trade Fair receives strong response
The Rough Diamond Days event that took place this week in the Antwerpsche Diamantkring was once again strongly attended. Some 65 exhibitors traded a significant number of rough diamonds with national and international diamond dealers. This unique trading event has restored Read More
Thursday 26 February 2015
Quote of the day - 26th Feb 2015
“Just like there were high
expectations from last year’s budget this year too, the fraternity is
looking for a positive outcome from the budget. The industry concerns
have already been put forth by bodies like GJEPC, GJAF & FICCI to
the government, we are hopeful that they will address the same which
will benefit the industry.”
Sachin Jain, President, Forevermark India
Budget 2015 wish list: GJ industry expects reduction in import duty from 10% to 2%
With the Union
budget for 2015-16 round the corner, the gem and jewellery industry is
ready with its wish-list, hoping for a favourable treatment from the new
government.
read more
Gold rebounds amidst wedding season as Fed in no hurry to raise interest rates
Snapping its four-day losing streak, gold rebounded by Rs 100 to Rs
27,070 per ten grams at the bullion market today mainly on the back of
wedding season buying by jewellers and retailers amidst a firming global
trend. read more
China to launch Shanghai -Hong Kong gold market link up; may offer new regional benchmark
China is set to
launch a link between gold markets in Shanghai and Hong Kong this year
following a landmark stock connect scheme, aiming to enhance its pricing
power of gold contracts and ultimately challenge its competitors in the
West. read more
Economists want FM to introduce gold certificates; to discourage people from buying physical gold
Indians have for
centuries relied on gold for savings. The yellow metal remains the
investment of choice for many. The large amounts of savings locked up in
gold curtail liquidity and therefore investment in infrastructure and
other drivers of the economy. read more
Demand for Apple Watch to wreak havoc on gold prices: Study
According to recent
reports if Apple plans to sell one million gold edition units a month,
Apple Watch could wreak havoc on gold prices and do who knows what to
the global economy. Josh Center at TidBits has done some math on Apple
Watch read more
Saudi gold investments hit SR14b, up 20% in 2015
Saudi gold
investment exceeds 20 percent to SR14 billion in 2015. World Gold
Council (WGC) has released data, in which demand on gold in the local
markets is exceeding 55 tons, a good proof that purchasing power on
gold is not affected read more
Wednesday 25 February 2015
Traders opt for cutting more intraday bets in gold and silver, ahead of Budget 2015
Traders in highly
liquid commodities like gold, silver and crude futures contracts are
cutting more intraday bets nowadays rather than initiating fresh
positional trades because of range bound movement of these products on
the international markets, read more
World’s biggest banks under scanner on manipulation for fixing prices of gold, silver
The U S Justice
Department is investigating whether the worlds biggest banks
manipulated prices of precious metals such as silver and gold as it
pushes to wrap up probes into currency-rate rigging, read more
60 kg of smuggled gold seized in Ahmadabad airport
Gujarat police
claimed they had made the single biggest seizure of gold smuggled into
India on Tuesday after arresting six people leaving an airport with 60
kg of the precious metal flown in from Dubai.
read more
Govt yet to take call on alpha-numeric code for jewellery manufactured in India
The government today
said it has not yet taken a final decision on its proposal to introduce
a nine-digit alphanumeric identity code for each piece of gold
jewellery manufactured in India, to fix purity and traceability. read more
Indian refiners explore the potential of doré imports; to capitalize on cheaper import duty
Indian refinement of gold doré has increased substantially of late, with
firms said to be capitalising on the differential in import duties to
bring metal into the country cheaply. read more
Creador Advisors acquires 3.2% stake in PC Jeweller for Rs 143 crore
India and Southeast
Asia focused private equity fund Creador Advisors has acquired 3.2 per
cent stake in listed jewellery chain PC Jeweller for Rs 143 crore or
US$23 million and will raise its stake to 3.5 per cent by investing
another Rs 12.4 crore read more
London Diamond Bourse (LDB) 's first-ever open day receives overwhelming response
The London Diamond
Bourse (LDB)s first Open Day received overwhelming response on February
23. An unprecedented number of people applied to attend the event held
at LDB, read more
Two New Zones to Debut at Hong Kong International Jewellery Show in March
In the world's
largest jewellery marketplace, Hong Kong, the HKTDC Hong Kong
International Jewellery Show and the HKTDC Hong Kong International
Diamond, Gem and Pearl Show are superb platforms read more
Tuesday 24 February 2015
55th edition of Bangkok Gems and Jewelry fair opens with a grand ceremony
The 55th Bangkok Gems and Jewelry and Watch Fair 2015 was inaugurated
today in a grand ceremony at the Impact Exhibition Center, Bangkok. The
show began with the welcome speech by Nuntawan Sakuntanaga, Director
General, read more
Gold prices remain sluggish; trading below $1200
Gold prices declined
by Rs 120 to Rs 27,070 per 10 grams at the bullion market today due to
sluggish demand from jewellers amid a weakening trend overseas. Silver
followed suit and traded lower by Rs 135 to Rs 36,750 per kg read more
Undisclosed synthetic diamonds found in Surat for the first time in history
The Surat Diamond
Association (SDA) on Saturday detected 110 pieces of synthetic diamonds
from a packet belonging to two diamond traders operating from the Mini
Bazaar diamond market in Varachha. read more
GSI Botswana becomes the first lab in Africa to utilize Sarine Axiom diamond scanner
Gemological Science
International (GSI), one of the largest independently owned gemological
laboratories in the world is pleased to announce that its Botswana
laboratory is the first in Africa to use DiaMension Axiom in Africa. read more
Malabar Gold to pursue online platform to cut high capital costs and rentals
Leading franchiser
Malabar Gold and Diamonds proposes to go increasingly online to get
around the problems of high capital costs and rentals. Gold wholesalers
and exporters do business against order only, read more
Women's Jewelry Association (WJA) to host the annual WJA at NYC on March 10, 2015
The Women's Jewelry
Association (WJA) will host the annual WJA In The Know Conference on
March 10, 2015, at Convene, 730 Third Avenue, New York City. "We've
designed a program to address the myriad demands of today's busy
professionals," said WJA's vice president of education, read more
Monday 23 February 2015
Jewellers expect major relief as custom duty likely to get reduced from 10 % to 6 %
The government is
likely to announce a reduction in the customs duty on gold and the
setting up of special notified zones for gems and jewellery in the
budget. read more
Signature 2015 lives up to expectations
Considered as Indias only top-of-the-line jewellery show, Signature
2015 lived up to expectations. The event was held at Bombay Exhibition
Centre, Mumbai from February 20-23, read more
Gold near 7 week low as deal strikes over Greeks debt and China remains out of market
Gold hovered around
the key US$1,200-an-ounce level on Monday, its lowest in seven weeks, as
support for the safe-haven metal eased after a deal was struck over
Greece's debt, read more
Gold ETF looses favour among investors; records Rs 1300 crore outflow in first 10 months of FY 15
Gold exchange traded
funds (ETFs) seem to have lost favour among investors as mutual fund
managers pulled out nearly Rs 1,300 crore from these products in the
first 10 months read more
PC Jeweller plans Rs 1,500-crore investment, 200 new outlets
As part of its
retail expansion strategy, country's leading jewellery brand PC Jeweller
plans to invest Rs 1,500 crore and launch 200 new outlets by 2019. Out
of the 200 new outlets, read more
Brilliance, craftsmanship and glamour shine at the Artisan Jewellery Design Awards 2014
At the Artisan Jewellery Design Awards 2014, a grand felicitation
ceremony took place to honour 12 of the some of the industrys
outstanding and innovative jewellery designers. read more
Karnataka first silver industry park to come-up in Mangur village
The first silver
industry park of the state will come up near Mangur village of Chikkodi
taluk in Belagavi district. CM Siddaramaiah will lay foundation stone to
the project on Saturday, read more
Friday 20 February 2015
YOUR RESPONSE; Thank you for vital information- Vikas Jain
I’m very thankful to The Art of Jewellery for always sending me the magazine on time. I really find the articles providing indepth knowledge of the jewellery industry and the perspective of present issues facing our trade are helpful and informative.
Vikas Jain
Owner, Maitri Creations, New Delhi
Vikas Jain
Owner, Maitri Creations, New Delhi
YOUR RESPONSE: Thank you for vital information- Prem Sukh Verma
The Art of Jewellery magazine is a vital source of information for anyone who wants to know about the gem and jewellery industry. I strongly believe that with such reasoned and thought out articles, readers would stay connected, refreshed and enlivened. Thanks a great deal.
Prem Sukh Verma
Proprietor, BB Jewellers, New Delhi
Prem Sukh Verma
Proprietor, BB Jewellers, New Delhi
YOUR RESPONSE: Hallmarking need to be implemented fully- Sunil Kumar Gupta
While there has been a significant increase in adoption of hallmarking on jewellery, the practice is currently limited primarily to organized players, thereby exposing customers to risks related to quality and undercaratage. Hallmarking needs to be implemented widely to protect the interests of customers.
Sunil Kumar Gupta
Proprietor
MaaGayatri Jewellers, Ranchi
Sunil Kumar Gupta
Proprietor
MaaGayatri Jewellers, Ranchi
YOUR RESPONSE: Gold Tourism- Ashok Gupta
The magazine always
highlights the potential of the Jewellery industry and the recent
example is the article on ‘Gold Tourism’. It is one of the best articles
I have ever read.
Ashok Gupta
Proprietor
Guptas Gems and Jewels, Secundrabad
Proprietor
Guptas Gems and Jewels, Secundrabad
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