#AOJDailyeNews ED seizes diamonds worth Rs 34 crore, money laundering above Rs 2500 cr by firms suspected

The enforcement directorate (ED) has seized diamonds of above Rs 34 crore from a Mumbai-based diamond company - Rajeshwar Exports, and is in the process of doing "valuation audit" of these diamonds READ MORE

#AOJDailyeNews Titan weathers demonetisation storm; records 15% retail growth for Tanishq in Q3 FY17

Titan Company Ltd. witnessed a "drastic slowdown" for a few days after Prime Minister Narendra Modi's announcement to demonetise Rs 500 and Rs 1,000 currency notes, but a recovery in its modern retail and dedicated retail channels was clearly visible within a few days, the company said on Tuesday. Read More

#AOJDailyeNews Stagnant gold prices may spark off fresh demand

Gold prices are expected to remain muted for the next three to six months, which is likely to trigger demand in India, said commodity experts and bullion traders. Read More

#AOJDailyeNews Gold starts 2017 on positive note, edges up despite firm dollar

After gaining more than 8 percent in 2016, gold extended its strong run into the New Year, pushed higher in 2017's first day of trading on Tuesday by technical buying, despite pressure from a strong dollar. Read More

#AOJQuote of the day 3rd January 2017:

"The knock-on effect of Indian demonetisation has meant a reduction in the prices of lower quality diamonds. As a result, we've seen an increase in demand for those kinds of diamonds as our clients have snapped up these favourable deals.” –

 Tobias Kormind, Managing Director, 77 Diamonds, UK

#AOJQuote of the day 3rd January 2017:

  “Gold will definitely give at least 8-10% return to consumers in 2017.  We see gold consumption, which has dropped to nearly 460-500 tonnes in 2016, will bounce back this year.” –

Surendra Mehta, Secretary, India Bullion & Jewellers Association (IBJA)

#AOJDailyeNews Alrosa to auction both rough and polished diamonds at IDWI in Feb 2017

The sixth International Diamond Week (IDWI), to be held from February 13 – 16, 2017 at the Israel Diamond Exchange (IDE) will also witness an auction of both rough and polished diamonds by ALROSA. Read More