Gold rises to Rs 29,190; silver up at Rs 39,050 per kg

Author: unknown - Published 23-06-2017 13:11 - ( Reads)
Gold prices rose Rs 90 to Rs 29,190 per 10 grams at the bullion market today on positive global cues and increased buying by local jewellers.

Gems and Jewellery Trade Federation plans for series of GST seminars in Mumbai

Author: unknown - Published 23-06-2017 02:38 - ( Reads)
All India Gems and Jewellery Trade Federation (GJF) national nodal trade body for the promotion and growth of trade in gems and jewellery across India, is planning for it’s series of GST seminars in Mumbai on June 29 at Birla Matoshri Sabhagraha in Mumbai.

Zimbabwe expects 2.5 million carat diamonds in 2017

Author: unknown - Published 22-06-2017 13:17 - ( Reads)
Zimbabwe expects to produce 2.5 million carats of diamonds this year after acquiring equipment for its state-owned Zimbabwe Consolidated Diamond Company but legal challenges remain over its move to nationalise diamonds fields in the east of the country.

Rapaport Weekly Market Comment

Author: unknown - Published 22-06-2017 11:00 - ( Reads)
Rough market cools slightly as De Beers raises prices an average 2% to 3% at $530M June sight. De Beers limiting supply to support prices and align with sluggish polished sales. Hong Kong show begins with rising expectations for Chinese demand, after Las Vegas demonstrated cautious and changing US market. Declining mall traffic and popularity of custom-made bespoke jewelry impacting jewelers’ inventory needs. Christie’s NY Magnificent Jewels auction fetches $26.1M (83% by lot), with Harry Winston buying 18.04 ct. “Rockefeller Emerald” ring for $5.5M ($305,516/ct.). Swiss watch May exports +9% to $1.7B. India May polished exports +4% to $2.1B, rough imports +22% to $1.9B.

De Beers to Invest in Diamond Start-Ups

Author: unknown - Published 22-06-2017 10:36 - ( Reads)
De Beers is launching an initiative to consider buying minority stakes in start-ups and rapidly growing companies, the diamond producer announced Thursday.

Diamond industry seeks GST waiver on supply of stones meant for export

Author: Ram Sahgal - Published 19-06-2017 08:45 - ( Reads)
A tricky problem of credit refund has compelled the diamond industry to request the government for a waiver on Goods and Services Tax (GST) on supply of stones meant for export between diamond exporters. This comes days after the GST Council created a separate 3% slab for precious metals and diamonds, giving into industry's demands for a lower rate.

Malabar Gold to invest Rs 2,000 cr to open 80 stores in 2017

Author: unknown - Published 18-06-2017 10:54 - ( Reads)
Expecting better sales after the new uniform taxation regime GST from next month, jewellery chain Malabar Gold & Diamonds has drawn up a Rs 2,000 crore expansion plan to open 80 more stores this financial year.

Trans Hex Warns of Greater Losses

Author: unknown - Published 18-06-2017 08:27 - ( Reads)
South Africa-based diamond miner Trans Hex expects that its net loss widened 81% to $14.2 million (ZAR 182.6 million) in the past fiscal year due to impairment charges and a slump in sales, the company warned Thursday.

World’s Largest Diamond Ship Sets Sail in Namibia

Author: unknown - Published 18-06-2017 05:23 - ( Reads)
De Beers launched the world’s largest diamond-exploration ship on Thursday, as it looks to Namibian waters to maintain production levels.

Kimberley Diamonds goes into administration

Author: ESMARIE SWANEPOEL - Published 16-06-2017 12:49 - ( Reads)
PERTH (miningweekly.com) – Embattled Kimberley Diamonds has reportedly entered voluntary administration only days after its Lerala diamond mine, in Botswana, was closed.
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