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Diamonds will have the greatest potential in 2017

Mumbai-based Rajesh Bhagat, India Consultant of Hong Kong Trade Development Council (HKTDC) who oversees HKTDC’s operations across India, Sri Lanka and Bangladesh, has been assisting companies, particularly small and medium enterprises (SMEs) in the...

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Tanzania to cautiously extend ban on export of rough gemstones from tanzanite

Tanzania, which imposed a ban on the export of rough tanzanite more than 1 gram to encourage local beneficiation, said it will cautiously extend the moratorium to other precious stones in the country once it has the capacity to cut and polish all gemstones...

22 may 2017

De Beers sees sales volumes returning to “more normal” levels

De Beers registered a higher than usual volume of sales in the first quarter following a “strong” rebound in demand levels for lower value stones during the first sales cycle of 2017. The unexpected introduction of demonetisation in India late last year...

15 may 2017

If not gemologists, who else will maintain the image of diamonds in consumers’ eyes?

The Moscow State University’s Gemological Centre created in 1995 trains the specialists in rough and polished diamonds, colour gems, jewellery, characterization, expert evaluation, grading and marketing. The MSU’s lecturers and researchers, scientists...

10 may 2017

Manufacturing should be in line with market demand

Ernie Blom, the President of the World Federation of Diamond Bourses (WFDB) for the third term, has served on a range of industry bodies as an executive as well as chairman for many years, including Chairman, Diamond Dealers Club of South Africa; Chairman...

02 may 2017

WGC & Indian Government to create Spot Exchange for gold

19 may 2017
The World Gold Council is working with the Indian government on plans to create a local physical spot-gold exchange that may start up as soon as next year. P.R. Somasundaram, managing director for the World Gold Council in India said, “We are working on a gold exchange for India.The finance ministry has formed a gold committee. And the committee has taken this as one of the things to do.”
The plans still face many hurdles including that the state-level rather than central government has responsibility for gold-related matters in India, he said. Increased infrastructure such as gold vaults and reliable receipts for metal are also needed.The new exchange would bring more order and structure to the market, "which is what the government would love,” Somasundaram said. “It is not going to be a gold exchange like you see here, with bullion banks backing liquidity, it’s going to be very different."
The price of gold is rising for a second year, spurring interest from investors, amid growing demand from China and a weaker U.S. Dollar.

Aruna Gaitonde, Editor-in-Chief of Asian Bureau, Rough & Polished

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