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Gold prices are expected to trade higher today: Angel Commodities

Author: unknown - Published 01-02-2019 12:02
On Thursday, spot gold prices rose marginally by 0.08 percent to close at $1320.6 per tonne. Prices continue their uptrend after the U.S. Federal Reserve paused their rate hike cycle

India: Polished Manufacturing Slows

Author: unknown - Published 31-01-2019 12:17
Dealers and cutters cautious as US restocking is slower than expected. Low volume of new goods coming to the market, with significant slowdown in diamond manufacturing. Inventory levels high and suppliers offering old stock at deeper discounts. Steady demand for SI-I1 clarity goods. Concerns about tight profit margins and reduced bank credit. Rough trading relatively slow following De Beers sight

Rapaport Weekly Market Comment

Author: unknown - Published 31-01-2019 12:14
Polished trading sluggish with Far East dealers on holiday for Chinese New Year. Reduced expectations for Chinese Year of the Pig after 4Q slowdown. US buyers cautious as Conference Board consumer confidence index falls 5% to 18-month low, due to volatile stock market and government shutdown. High-end luxury doing well. LVMH 4Q jewelry and watch revenue +8% to $1.3B. Rough premiums decline, with continued weakness in low-value goods at $505M De Beers sight. Petra Diamonds 1H sales +8% to $207M, production +10% to 2M cts., average price -6% to $119/ct. Rapaport Group announces trip to Sierra Leone (April 1-4) to highlight artisanal mining industry.

Local Jewellery Demand Eases Marginally To 598 Tonnes In 2018

Author: unknown - Published 31-01-2019 12:04
Annual Indian gold jewellery demand weakened marginally to 598 tonnes (t) in 2018, from 601.9t in 2017, noted the World Gold Council (WGC) in its latest Gold Demand Trends update. Q4 demand was also fractionally lower y-o-y (180.1t v. 182.4t), as consumers showed caution in the face of high and volatile local gold prices. Demand was constrained in 2018 as there were relatively few auspicious wedding days in the Hindu calendar. This had a particularly pronounced effect on Q4 demand, given that November and December are traditionally peak wedding season months. The outlook is more positive for 2019, as there is a marked increase in the number of such auspicious days.

Budget 2019: Gems and jewellery exporters want import duties reduced

Author: Nandana James - Published 30-01-2019 12:18
The Gem and Jewellery Export Promotion Council (GJEPC) is hoping for a reduction in import duty on polished diamonds to 2.5 per cent from the current 7.5 per cent and a cut in import duty on gold from 10 to 4 per cent in the upcoming Interim Budget

Mouawad Cuts Record Yellow Diamond

Author: unknown - Published 30-01-2019 12:10
Mouawad has manufactured a 54.21-carat polished yellow stone, which, it claims, is the largest of its shape and color the Gemological Institute of America (GIA) has ever graded.

Lucara Unearths 240-carat White Diamond in Botswana

Author: Georgia Williams - Published 28-01-2019 12:16
Diamond miner Lucara Diamond (TSX:LUC,NASDAQ:LUC) has discovered a massive 240-carat top white gem diamond at the company’s wholly-owned Karowe gem stone mine located in Botswana.

Botswana Diamonds raises cash to fund 2019 exploration

Author: unknown - Published 26-01-2019 18:43
The funds raised will be used to fund exploration activities during the current year in Botswana and South Africa, which remain ongoing, and to provide additional working capital for the company

Gold Prices Remain Above 32,200 Rupees Mark: 5 Things To Know

Author: unknown - Published 25-01-2019 14:39
Gold prices held steady at Rs. 33,210 per 10 grams at the bullion market on Thursday in scattered deals even as the precious metal weakened overseas, reported news agency Press Trust of India (PTI) quoting the All India Sarafa Association. Silver prices, however, turned weak and fell by Rs. 210 to Rs. 39,950 per kg due to reduced offtake. The fall in silver to subdued demand from industrial units and coin makers at the local spot market, said the report citing traders.

Rapaport Weekly Market Comment

Author: unknown - Published 24-01-2019 14:49
Diamond markets quieter than usual in January. Dealers cautious amid sluggish US post-holiday demand. Far East orders slow as jewelers focus on Chinese New Year sales. Decline in Chinese tourist spending sees Tiffany & Co. Nov./Dec. sales -1% to $1B. Luk Fook 3Q same-store sales -10%. JBT reports US industry shrinks 4% to 25,102 jewelers in 2018. Rough sentiment weak as manufacturers face tight profit margins, high inventory and less financing. Indian bank credit down 30% due to weaker rupee and change in lending policy. De Beers 2018 production +6% to 35.3M cts., sales volume -4% to 33.7M cts. Alrosa 2018 output -7% to 36.7M cts., sales volume -8% to 38.1M cts.
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