Budget 2019: Gems and jewellery exporters want import duties reduced

Author: Nandana James - Published 30-01-2019 12:18 - ( Reads)
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 - ( Reads)
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 - ( Reads)
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 - (0 Reads)
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 - ( Reads)
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 - ( Reads)
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.

Mine Closures Hit Alrosa Production

Author: unknown - Published 24-01-2019 14:45 - ( Reads)
Alrosa’s rough-diamond production fell 7% in 2018 amid the closure of two of its assets, the miner said Thursday.

Diamond Pro’s AI spots imperfection in gems

Author: KYLE WIGGERS - Published 22-01-2019 14:52 - ( Reads)
Would you ever consider purchasing diamond jewelry online? Lots of people have — according to Research and Markets, the jewelry ecommerce market accounts for roughly 5 percent of the $257 billion overall jewelry industry, a share that’s expected to triple by 2020. It’s growing especially quickly in Asia, where the compound annual growth rate from 2011 to 2014 exceeded 60 percent.

Lucapa’s Mothae Mine Exceeds Expectations

Author: unknown - Published 22-01-2019 14:51 - ( Reads)
The Mothae mine in Lesotho is performing better than expected since reaching commercial production in the fourth quarter.
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