GOLDNET.MARKET - “We want and are working to provide business with the opportunity to develop a lot of activity areas”

Today, almost all jewellery companies have their own wholesale websites, online stores, and social media pages. But a year ago, GOLDNET.MARKET, the first jewellery wholesale marketplace appeared in Russia, a new effective tool for the jewellery market...

20 september 2021

Platinum’s rare nature gives it additional value and appeal

Huw Daniel is the CEO of Platinum Guild International, overseeing market development activities in China, Japan, India and the USA, on behalf of the platinum producers of South Africa. Before taking up this role in 2015, Huw ran PGI USA for 12 years...

13 september 2021

Marco Carniello: We want to continue to be the engine boosting the jewellery industry

Italian Exhibition Group (IEG) is a leader in Italy in the organisation of trade fairs and one of the main operators in the trade fair and conference sector at European level, with structures in Rimini and Vicenza, as well as further sites in...

06 september 2021

There is a significant need for smart and technological financial solutions in the diamond industry

MDPS, the Israeli start-up Fintech company from the Mazalit Group is gearing up to enter the diamond industry soon. Zeev Maimon, the CEO of MDPS is also the Founder / CEO of MAZALIT, a B2B payment platform designed and dedicated to the global diamond...

30 august 2021

The future for synthetics lies in that it has become possible to grow a stone you want and make what you want out of it

Alex Popov, President of the Moscow Diamond Exchange and head of the Âme jewelry brand, which uses lab-grown diamonds to produce jewelry, sat for an interview with Rough&Polished sharing his views on the coexistence of natural and man-made diamonds in...

23 august 2021

GMS scheme requires bullion banks to take off successfully - bankers

01 february 2016
The central government’s Gold Monetisation Scheme (GMS) needs specialised banks or a bullion bank to successfully take off, suggest some bankers, reports Bullion Bulletin.
Meanwhile, there is still a need for clarification on the scheme. It is still unclear how the tax deducted source (TDS) provisions would apply, there are questions such as the collecting centres’ purity testing ability and other issues.
In addition, the bankers point to the risks they need to take on the Collecting and Purity Testing Centres (CPTC), logistics, cost factors and whether the commission is adequate.
At an India Gold Forum event Neerja Nigam, deputy general manager, precious metals, State Bank of India, said: “Customers are apprehensive about whether, at maturity, the gold is not given back. And, if they redeem deposited gold in cash and import is banned, then they might not be able to repurchase it.”
“I think they (the ministry of finance and RBI) have got their act together. After the clarifications, only the TDS issue remains, which, according to them, would be addressed within three or four weeks," she added.
Nigam suggested allowing dematerialisation and making it transferable would improve the scheme.
She proposed setting up a gold bullion bank, on the lines of the National Housing Bank, for GMS.

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