Jewellery shares fall on fear of gold import curbs; Titan down 4.73%

Author: Rajesh Bhayani - Published 22-09-2018 15:33 - ( Reads)
Most jewellery stocks have headed south in the last one month. However, the fall gained momentum in the last one week after the Centre announced measures to arrest rupee slide and decided to curb import of non-essential goods. Jewellers were alarmed by this move and expect some restrictions on gold trade.

Rapaport Weekly Market Comment

Author: unknown - Published 20-09-2018 15:39 - ( Reads)
Trading centers quiet during Jewish holiday period. Hong Kong show reflects uncertainty over US-China trade tensions, with Typhoon Mangkhut disrupting activity at the fair. Slower growth expected in 2H as Chinese consumer sentiment weakens ahead of Oct. 1 Golden Week. Steady demand for 0.30 to 1 ct., G-L, VS-SI diamonds.

Global Jewelry Sales Up 5%, Says Alrosa

Author: unknown - Published 20-09-2018 15:34 - ( Reads)
Jewelry sales increased globally in the second quarter, according to market research released by Russian miner Alrosa.

Govt plans hike in gold import duty to check rising CAD

Author: SURESH P IYENGAR - Published 18-09-2018 15:31 - ( Reads)
The government is set to hike the import duty on gold to 12-13 per cent from 10 per cent to control the widening current account deficit. The move will hit jewellery exports and pull down domestic demand.

Petra Boss Steps Down Amid $203M Loss

Author: unknown - Published 17-09-2018 15:37 - ( Reads)
The company reported a net loss of $203.1 million for the period ending June 30, as opposed to a profit of $20.7 million the year before. This was due to the combination of an impairment charge — a permanent reduction in the value of an asset — on its Koffiefontein mine, and a loss stemming from the ceasing of operations and sale of its Kimberley asset. That divestment was part of an effort to raise money to pay off debt.

Botswana: Diamond Giant Shifts Focus

Author: unknown - Published 16-09-2018 15:40 - ( Reads)
De Beers has shifted its strategy as the youths, classified into two distinct groups of Millennials and Gen Z, combined for two-thirds of global diamond jeweller

Lucapa to Sell Large Diamonds from Lulo

Author: unknown - Published 16-09-2018 15:36 - ( Reads)
Lucapa Diamond Company will sell six large stones weighing a total of 449 carats from its Lulo mine in Angola after an overhaul of the nation’s mining laws prompted it to delay the sale, it said.

Gold Prices Slip Today, Silver Rates Also Fall: 10 Things To Know

Author: unknown - Published 14-09-2018 14:57 - ( Reads)
Gold prices fell by Rs. 200 to Rs. 31,400 per 10 gram at the bullion market on Friday, reported news agency Press Trust of India (PTI). The dip in gold prices is due to weak demand from jewellers and retailers even as the metal strengthened overseas. Silver also followed suit and fell by Rs. 250 to Rs. 37,650 per kg due to reduced offtake by industrial units and coin makers. According to analysts, muted demand from local jewellers and retailers at the domestic spot markets mainly kept pressure on the precious metal, but a firm trend overseas capped the fall.

ALROSA Launches the First 'True Colours' Auction of Large Coloured Diamonds

Author: unknown - Published 14-09-2018 14:12 - ( Reads)
ALROSA, the largest diamond mining company in the world, presented the first of its kind collection of large coloured diamonds at the Hong Kong Jewelry & Gem Fair. This is a stepping stone of a new strategy, executed by ALROSA to become the world leader in the production of coloured polished diamonds.

Israel Diamond Exchange Appoints Eran Zini as New Managing Director

Author: unknown - Published 14-09-2018 14:11 - ( Reads)
Zini has a rich background in management positions in business and government. After having served as senior advisor to Israel’s Minister of Justice, he joined Israeli pioneering electric car start-up Better Place, as head of government relations and regulation. He then joined a government company devoted to vocational rehabilitation for people with disabilities as head of operations, and a year later was promoted to Managing Director, a position he held until he was recruited by IDE.
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