Gold, silver trade in the red in morning deals

Author: unknown - Published 21-07-2017 11:00 - ( Reads)
Gold and silver were trading in red in morning trade on Friday following tepid offtake from investors and industries driven by sluggish international markets.

Rapaport Weekly Market Comment

Author: unknown - Published 20-07-2017 11:00 - ( Reads)
Polished trading seasonally slow as US dealers return from vacation and Belgian and Israeli suppliers soon to begin theirs. Rapaport Melee Index (RMI™) stable in 2Q. Jewelers not yet benefiting from US stock-market boom as consumer spending remains cautious. China turning a corner as retail improvement boosts 2Q GDP growth +6.9%. Luk Fook 1Q same-store sales +5% with China +23%, Hong Kong/Macau +3%. De Beers 1H production +21% to 16.1M cts., sales +9% to 20M cts., average price -12% to $156/ct. Rio Tinto 2Q production -2% to 4.3M cts. Dominion Diamond Corp. to be sold to The Washington Companies for $1.2B. Signet appoints Virginia Drosos to CEO position as Mark Light retires.

De Beers Sees Production, Sales Volume Jump

Author: unknown - Published 20-07-2017 02:37 - ( Reads)
De Beers reported a spike in rough diamond production and sales during the second quarter, noting stable trading conditions and an increased contribution from its recently launched Gahcho Kué mine in Canada.

GST impact: Non-availabilty of gold brings jewellery exports to standstill

Author: Dilip Kumar Jha - Published 20-07-2017 02:14 - ( Reads)
Gold jewellery exports from India have come to a grinding halt the past two weeks due to non-availability of the metal for fabrication. Trade sources said banks and nominated agencies responsible for bullion import have halted the entry of gold since implementation of the Goods and Services Tax (GST) effective July 1. They fear the government's decision to levy three per cent GST on bullion and jewellery with full input credit would hurt their profitability and block working capital on every gramme of gold they sell. With reduced supply, all jewellery manufacturers, save ...

These 4 jewellery stocks have earned over 500% in 4 years

Author: Diksha Ramesh - Published 18-07-2017 15:09 - ( Reads)
Even as gold jewellery prices have risen due to the higher GST levy, the demand is positioned to grow nearly 9 per cent in the financial year 2017.

Botswana Diamonds jumps on prospecting licence expansion

Author: Cecilia Jamasmie - Published 18-07-2017 14:42 - ( Reads)
Shares in London-listed Botswana Diamonds (LON:BOD) climbed Monday to close 9.6% higher at 1.89p after it announced it had been granted a prospecting licence over an additional 1,000 hectares at its Vutomi joint venture in South Africa.

Mining Giant Hunts for Diamonds in the Canadian Forest

Author: David Stringer - Published 18-07-2017 07:27 - ( Reads)
Rio Tinto Group’s pursuit of new diamond output to tap rising demand in Asia is focusing on an unheralded exploration project in the Canadian forest.

Falling gold returns fail to deter Indian buyer; Gold buying in India among the highest in the world

Author: unknown - Published 18-07-2017 01:43 - ( Reads)
Is gold a dead investment? The Indian gold buyer does not believe so. The Indian penchant for the yellow metal needs no elaboration. While gold as an investment may have had poor returns, there are no brakes on the Indian jewellery buyer. According to data from Goldprice.org, gold has given negative returns, falling 11% in the last one year. Even the long term 5-year return of negative 9.27% is indeed very dismaying, especially given the buoyant returns on the Indian equity benchmark Sensex.

Tennis ball-sized ‘diamond in the rough’ too big to sell

Author: Susan Taylor - Published 17-07-2017 09:02 - ( Reads)
In the mysterious world of diamond mining, it turns out that some stones are too big to sell.

Canada’s Lucara Diamond Corp. will have to cut its tennis ball-sized rough diamond to find a buyer, industry insiders say, following Sotheby’s failed auction for the world’s largest uncut stone last summer

Mixed response from jewellers to GST exemption on old jewellery purchase

Author: SURESH P IYENGAR - Published 16-07-2017 13:25 - ( Reads)
Allowing jewellers to buy old jewellery from customers for recycling without incurring GST of 3 per cent is seen to encourage smuggling and create a divide between large and small organised jewellers.
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