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Indian investor in gem cutting and polishing

Author: Unnamed Reporter - Published 16-12-2012 18:11
THE Zimbabwe Mining Development Corporation (ZMDC) has courted an Indian investor to set up a US$20 million diamond cutting plant in Mutare as the country makes a first step towards realising value from the gems.

Dollar’s weakness may cap gains in gold

Author: ritwick - Published 13-12-2012 21:43
Hopes of the US Federal Reserve Bank announcing more stimulus measures to boost economy could drive gold higher on Tuesday. However, the dollar’s weakness against a basket of major currencies could cap gains.

Bihar govt witnesses 92.84% rise in VAT earnings on jewellery

Author: Unnamed Reporter - Published 13-12-2012 21:41
The state government witnessed a increase of 92.84 per cent in VAT earnings on jewellery during the current financial year, reflecting the manifold rise in the sale of gold and silver jewellery in Bihar

No break in roughs supply to India: Anand Sharma

Author: Melvyn Thomas - Published 13-12-2012 21:37
Union commerce and industry minister Anand Sharma said Government of India was making all possible efforts to help the world's biggest diamond cutting and polishing centre in India to get an uninterrupted supply of rough diamonds from mines world over.

Gold unlikely to breach Rs 32k-mark this month: Experts

Author: Unnamed Reporter - Published 10-12-2012 21:22
After gaining around 16 per cent this year, gold prices are unlikely to cross the Rs 32,000 mark in the near-term due to year-end profit-booking activities and investors adopting a cautious stance amid the progress over US fiscal cliff talks, market experts have said.

India's gold imports may hit 300 tonnes in July-Dec of 2012

Author: Unnamed Reporter - Published 10-12-2012 21:19
India's gold imports likely to increase in the second half of 2012, providing the ease in the record prices. However, the annual volumes will still drop nearly 30 per cent after a tax hike, which could lessen demand until 2014, as per the hopes raised by Mumbai's gold trade association.If local prices remain firm around Rs 30,000 for 10 grams, the imports expected to touch the mark of 300 tonnes in the July-December period of the current year, higher from 250 tonnes in January to June, said Prithviraj Kothari, president of the Bombay Bullion Association.

India Gem, Jewelry Exports Likely to Rebound

Author: Debiprasad Nayak - Published 10-12-2012 21:07
India's gem and jewelry exports, which have been slipping for the past two years, are expected to turn around in the next financial year beginning April 1 with overseas customers stepping up purchases of diamond-studded gold jewelry, a senior industry executive said Wednesday.

Gold futures rise to Rs 31,719 per 10 gm

Author: Unnamed Reporter - Published 07-12-2012 19:19
Tracking a firm global trend, gold prices rose Rs 76 to Rs 31,719 per 10 grams at the futures trade today as speculators created fresh positions.At the Multi Commodity Exchange, gold for delivery in December rose Rs 76 or 0.24 per cent to Rs 31,719 per 10 grams with a business turnover of 3,422 lots.

Govt cuts import duty on 'gold findings' to 4%

Author: Unnamed Reporter - Published 07-12-2012 19:17
Centre has announced cut in customs duty on 'gold findings' to 4% as compared to 10%. The industry will help will strengthen jewellery exports.

Christmas demand may help arrest fall in jewellery exports

Author: Unnamed Reporter - Published 07-12-2012 19:12
Gems and jewellery exporters are betting on the demand during Christmas to help arrest the decline in jewellery exports. In the April-October period, exports rose only 3.5 per cent, against 6.5 per cent in April-September.The decline largely resulted from uncertainty on presidential elections in the US, the largest market for Indian gold jewellery and diamonds.
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