Rising Gold Prices Keep India’s Jewellery Buyers At Bay

Author: Ridhima Saxena - Published 03-05-2018 09:34 - ( Reads)
Indian consumers postponed jewellery purchases this quarter as they waited for local gold prices to stabilise.
The demand for gold jewellery fell nearly 12 percent to 87.7 tonnes for the quarter ended March compared with the same period last year, the World Gold Council said in a statement. That’s the second weakest quarterly performance in the last decade.

Gems and jewellery industry asks bankers not to reduce credit limits

Author: unknown - Published 03-05-2018 09:28 - ( Reads)
The gems and jewellery industry has urged bankers not to reduce their current credit limits as this would hamper and erode exports and employment creation, GJEPC said today in a white paper.

Seized Mehul Choksi firm's jewellery for involvement in laundering: ED to HC

Author: unknown - Published 03-05-2018 06:30 - ( Reads)
Jewellery stock of Gitanjali Gems were seized as it was being in direct control of diamantaire Mehul Choksi, who has refused to join investigation, and involved in money laundering, the Enforcement Directorate (ED) today told the Delhi High Court.

Halted Botswana diamond mine to be sold at online auction

Author: unknown - Published 01-05-2018 13:51 - ( Reads)
The Lerala Mine was opened in 2008 and had to be shut twice due to weak sales, until it finally was placed under judicial management in May last year, leaving 130 people out of work and millions in unpaid bills.

Sale of 910-carat rock boosts Gem Diamonds revenue, stone prices

Author: Cecilia Jamasmie - Published 27-04-2018 12:02 - ( Reads)
Africa-focused Gem Diamonds’ (LON:GEMD) revenue nearly tripled in the first quarter of the year thanks to strong demand for its high-quality white rough rocks and the sale of a 910-carat diamond, the fifth-largest in history.

Diamond traders lose lustre in US, UAE

Author: Sutanuka Ghosal - Published 27-04-2018 08:02 - ( Reads)
India’s cut and polished diamonds are losing their sheen in the US and UAE markets. In FY18, exports of cut and polished diamonds to the US have dropped by 4.98 per cent while the dip to the UAE is 17.55 per cent. Even exports of plain and studded gold jewellery to the US have dropped by 11.5 per cent bringing down the overall exports of gem and jewellery in FY18 by 5.06 per cent to $40.97 billion compared to FY17.
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