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

De Beers’ GemFair ropes in more than 160 Sierra Leone artisanal miners

De Beers inaugurated its GemFair pilot programme in Sierra Leone’s Kono District with 14-member mine sites in 2018 to create a secure route to market for ethically sourced artisanal and small-scale diamonds. GemFair programme manager Ruby Stocklin-Weinberg...

16 august 2021

Gold imports in India fall 46% in June to 26 tons

15 july 2016
Indian gold bar imports fell 46 per cent in June to 26 tons, from 50.1 tons in May, according to Customs data. Imports were down 40 per cent year on year, from 44.6 tons in June 2015, to their lowest level since March.
Physical demand in India has struggled this year amid high prices and a running dispute with the government over new taxes and proposed reforms to the industry.
The discount paid for gold in India to the international price has moved to record levels in June and July, heard above US $70/oz this week, as high spot prices continue to deter local investors. Previously unheard of discounts as steep as US $100/oz for gold paid in cash have been reported in the past several days.
Gold has been on an unprecedented bull run this year, up around 30 per cent since January 1. Seen as long-term investors, Indian consumers are traditionally very price sensitive, as dealers and traders on the ground reported almost no volumes sold in June or July.
India consumed almost 1,000 mt of gold in 2015, but with gold bar imports at only around 215 tons so far this year, just under half the 2015 level, many are expecting a much lower total for full-year 2016.

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