Hallmarking of gold jewellery mandatory now. Here's what you need to know

Author: unknown - Published 17-01-2020 15:15
It has now become mandatory for all jewellers to hallmark gold jewellery. The Ministry of Consumer Affairs, Food and Public Distribution issued a notification on January 14 stating that it will give one year's time to jewellers and retailers to register themselves with the Bureau of Indian Standards (BIS) and clear their old stock.

Gold prices today rise for third day in a row, silver rates up

Author: Surajit Dasgupta - Published 17-01-2020 15:14
Gold and silver prices edged higher today in India, tracking muted gains in global markets. February gold futures prices on MCX were up 0.30% to ₹39,809 per 10 gram, extending gains to the third day. Tracking gold, silver also edged higher. On MCX, silver prices rose 0.60% to ₹46,696. Gold may see sideways movement in the near term on mixed fundamentals, says SMC Global in a note.

Jewellery sector seeks reduction in gold customs duty to 6%

Author: unknown - Published 16-01-2020 15:17
Ahead of the Budget, gems and jewellery industry has sought reduction in import duty on gold to 6% and on cut and polished diamonds to 2.5% to revive the sector.

The Second-Biggest Diamond in History Has a New Owner

Author: Vanessa Friedman - Published 15-01-2020 15:21
The largest rough diamond discovered since 1905, the 1,758-carat Sewelo, was revealed with great fanfare last April, named in July and then largely disappeared from view. Now it has resurfaced with a new owner — and it’s not a name you might expect.

India’s Polished Exports Slump in 2019

Author: unknown - Published 15-01-2020 15:16
ndia’s polished-diamond exports dropped 16% to $20.62 billion in 2019, recording their steepest annual decline since 2012. The decrease reflected a slump in imports volumes and a more moderate decline in the average price. Rough imports fell 17% as weakness in the manufacturing sector led to a slowdown in rough buying.

Lucapa cuts ‘flawless’ diamonds under new partnership

Author: unknown - Published 14-01-2020 15:18
Lucapa Diamond Company has partnered with a leading international diamantaire to transform a 36-carat rough diamond from the Mothae kimberlite mine in Lesotho, Africa into six rare D-coloured diamonds.

Russia’s Alrosa to steer clear of lab-grown stones

Author: unknown - Published 13-01-2020 15:19
Despite the growing share of lab-grown diamonds, Russian miner Alrosa does not want to go the De Beers way and enter the segment. However, Alrosa finds that lab-grown diamonds can co-exist with natural diamonds if they are properly declared.

Gold prices today fall for 3rd day, down ₹1,600 per 10 gram from recent highs

Author: Surajit Dasgupta - Published 10-01-2020 22:56
Gold and silver prices India today extended their recent losses, tracking decline in global rates. On MCX, February gold futures prices fell 0.38% to ₹39,680 per 10 gram, declining for the third day in a row. Gold prices in India had surged to a record high of ₹41,293 per 10 gram earlier this week. Silver futures on MCX also today fell 0.34% to ₹46,419. In global markets, gold prices declined today as apparent easing in US-Iran tensions boosted investors' appetite for riskier assets.

Carnegie Institution Seeks Cut of Rising Lab-Grown Diamond Sales

Author: Christopher Yasiejko - Published 10-01-2020 22:44
The Carnegie Institution of Washington, which has been doing scientific research for more than a century, filed lawsuits in New York alleging its patents for growing diamonds in a lab are being infringed by some top makers of such gem stones.

Exclusive: India's NMDC lined up to mine multibillion-dollar diamond deposit

Author: Neha Dasgupta and Mayank Bhardwaj - Published 10-01-2020 22:01
State-owned Indian miner NMDC is poised to win a multibillion-dollar contract to explore and mine diamonds at a large project abandoned by global miner Rio Tinto , a leading local government official told Reuters.
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