Q3 gold demand grows on the back of ETF

Global gold demand grew modestly to 1,107.9t in the third quarter of 2019, a rise of 3% on the same period last year, according to the World Gold Council’s latest Gold Demand Trends report. A surge in exchange-traded fund (ETF) inflows outweighed softer demand elsewhere in the market.

Although central bank demand remained healthy, it was significantly lower than the record levels of purchases in Q3 2018.Jewellery demand, however, was hampered by the continued strength in the gold price, which hit a new multi-year high, as well as consumers being downbeat on the health of the global economy.

Jewellery demand tumbles 32% YoY 3Q in India

According to the released data by World Gold Council (WGC) India, gold demand for Q3 2019 remained at 123.9 tonnes is down by 32% YoY-Year over Year, as compared to overall Q3 demand for 2018 of 183.2 tonnes. India’s Q3 2019 gold demand valued Rs 41,297 crores remained down by 18% as compared to Q3 2018 of Rs 50,085 crores.

India Gold Demand Statistics for Q3 2019 that is for the period of July to September says the total Jewellery demand in India for Q3 2019 decreased by 32% at 101.6 tonnes as compared to Q3 2018 of 148.8 tonnes. The value of jewellery demand was Rs 33,851 crores, down by 17% from Q3 2018 of Rs. 40,687 crore.

To develop the sector for skilled

A consultation was organized by the Ministry of Statistics and Programme Implementation (MoSPI) at New Delhi today with various stakeholders for evolving a framework to develop and nurture the sector for skilled survey enumerators and specialists, including for data quality under the skilling ecosystem so as to address the needs of organizations to have a pool of qualified and skilled persons that can undertake surveys professionally and who can be hired by agencies and manpower consultants.

Koffiefontein initiatives for Artisanal Mining

Petra Diamonds Limited announces the launch of an Artisanal Small Scale Mining (ASM) initiative in the Free State town of Koffiefontein in South Africa. This follows a process of extensive consultation and cooperation with relevant stakeholders, including the Department of Mineral Resources and Energy (DMR&E), as mining sector regulator, the Letsemeng Local Municipality, as elected representatives of the community, and the community itself. During this project, the aim was to create a framework within which ASM can be conducted by community members in a legal and regulated manner.

Pit Slope Scaling by Petra Diamonds

Petra Diamonds Limited announces that there has been a scaling of the open pit wall at the Cullinan mine in South Africa, further to a thunderstorm over the weekend. Mining in the open pit at Cullinan was discontinued more than 50 years ago and all current mining operations are underground.

Most importantly, no one was harmed in the incident and all necessary precautions have been taken to safeguard the wellbeing of our employees.  It is not anticipated that this incident will have a material impact on production, but the Company is following all appropriate measures to properly address safety of the related mining areas.

De Beers detection equipment to Circa

De Beers Group Industry Services, a world leader in the supply of synthetic diamond detection equipment, has announced that it will provide Circa, the premier global buyer of pre-owned fine diamond jewellery and watches, with proprietary diamond detection technology.

De Beers Group Industry Services will roll-out the detection equipment across Circa’s global offices, to provide Circa’s buyers with assurance that the diamonds contained in the jewellery and watches they purchase are natural diamonds.

Diamonds hold promise: WDC

Diamond-producing countries on the African continent received about $8.1 billion, or 9.5 percent of the $85.9 billion worth of revenues generated by diamond jewelry in 2018, and some still may consider that an insufficient share, said World Diamond Council (WDC) President Stephane Fischler, speaking at the Russia-Africa Summit in Sochi, Russia, on October 23, 2019.

But what is indisputable, he stressed, is the economic potential of the diamond resource, whose value increases by about a factor of five as it travels from the mine to the countertop of the retail jeweler. Mr. Fischler was a featured participant in a session at the summit organized in cooperation with Alrosa, entitled, Russian-African Collaboration in the Diamond Industry.

$1 Coin 2019 Rolls and Bags American Innovation $1 Coin 2019

2019 American Innovation $1 Coin Program honoring innovation and innovators from Delaware, Pennsylvania, New Jersey, and Georgia! Coins minted at the United States Mints at Philadelphia and Denver. Available in 25-coin rolls and 100-coin bag!

The United States Mint American Innovation $1 Coin Program is a multi-year series honoring innovation and innovators with $1 coins from each State, District of Columbia, Puerto Rico, Guam, American Samoa, U.S. Virgin Islands, and Northern Mariana Islands. The 2019 American Innovation $1 Coins in the rolls and bags have uncirculated finishes and were minted at the Philadelphia and Denver Mints.

No FTA will be signed in a Hurry

Union Minister of Commerce and Industry and Railways, Piyush Goyal, said that India will not enter into any free trade agreements (FTAs) or economic partnerships in a rush as any free trade agreement has to be a two- way benefit arrangement and a win-win for all sides.

He was speaking at a State Consultation Workshop for Make in India in New Delhi today. Ministers of State for Commerce and Industry Hardeep Singh Puri and Som Parkash, Commerce and Industry Ministers from 27 States and Secretary DPIIT were present at the workshop.

The need for bullion banking in India

The global bullion banking industry is large and

Well-established with annual revenues estimated at

More than US$1.5bn

The market includes both international

banks and smaller local players