JJS contributes CM relief fund

The Organising Committee of the Jaipur Jewellery Show (JJS) contributed Rs. 11 lakh 11 thousand to the Mukhyamantri Sahayta Kosh. The contribution was made in response to the Government’s appeal for financial aid to combat the Coronavirus outbreak. JJS has been organised for the last 16 years in the month of December. It is the largest and most popular B2B and B2C gems and jewellery show of the country.

Cycle of Petra diamonds fallout by 27%

Petra Diamonds said in its’ market update that with regards to the impact on the Company of the global Covid-19 pandemic. Focussing on rough diamond sales said, as noted in the previous announcement, Petra experienced depressed and opportunistic bidding for its diamonds at its fifth sales cycle of FY 2020, particularly in the larger size and higher quality, greater value categories.

The Company therefore chose to only sell a portion of its South African goods, representing ca. 75% by volume and ca. 50% by value. The remaining goods were exported to Antwerp and of these, ca. 75% were subsequently sold at the Company’s Antwerp marketing office.

Covid-19, the transformational for our industry

The Covid-19 will be transformational for industry

Dr. Gaetano Cavalieri, President, CIBJO said, “Historically, international crises have been inflection points in the human experience, and the Covid-19 epidemic is likely to be one of the most transformative in living memory.”

The world we knew before March 2020 will be different to the one that emerges at the other end of the tunnel through which are traveling, and it will be incumbent upon us to adapt in order to succeed in the new environment.

RJC virtual AGM to be held at London

This year the RJC Annual General Meeting and election process will be administered electronically by LUMI, the UK’s leading independent provider of end-to-end ballot, election and voting services. Each member will receive a unique password which will allow remote participation in all aspects of the AGM. Nominations for this year’s AGM have now closed.

Myntra partners Wildcraft to offer masks

Myntra announced that it has partnered with Wildcraft, India’s leading head-to-toe outfitter and fastest growing outdoor gear, clothing and footwear brand, to offer high quality personal protective masks on its platform. As part of its commitment to serve customers during this unprecedented time and enable them to stay safe, the company will provide access to protective equipment during the nationwide lockdown owing to Covid-19.

The ensuing shortage of protective masks across the country and restricted access during the lockdown has prompted Myntra to collaborate with Wildcraft and cater to this demand. Myntra’s strong delivery network and wide reach will enable the company to deliver masks to millions of customers within the safety of their homes. 

Senco Gold Contributes PM-CARES & WB State

Kolkata-based Senco Gold & Diamonds Group in its continued commitment towards supporting the nation in its fight against COVID-19, has pledged INR 1.5 Crores towards the Prime Minister's Citizen Assistance and Relief in Emergency Situations Fund (PM CARES Fund) set up by the Hon’ble Prime Minister Narendra Modi and West Bengal State Emergency Relief Fund set up by the Hon’ble Chief Minister Mamata Banerjee cumulatively. The overall contribution also includes one day’s salary of more than 2500 Group employees as well as contribution from the Senco Gold & Diamonds Franchisees. 

Gold ETF assets gain in Q1 2020

Q1 2020 highlights says, global gold-backed ETFs (gold ETFs) and similar products added 298 tonnes(t), or net asset growth of US$23bn, across all regions in the first quarter of 2020 – the highest quarterly amount ever in absolute US dollar terms and the largest tonnage additions since 2016. During the past year, gold ETFs added 659t, the highest on a rolling annual basis since the financial crisis, with assets under management (AUM) growing 57% over the same period.

Amid turbulent markets, Gold Futures Increases

As the Covid-19 pandemic causes volatile swings in markets across the globe, investors are making increasing use of the Dubai Gold & Commodities Exchange (DGCX’s) derivatives products and services as risk management tools. The DGCX last month saw its flagship Gold Futures product record year-on-year (Y-O-Y) Average Daily Volume (ADV) growth of 649.5%, and year-to-date (Y-T-D) volume growth of 742.8% compared to the same period last year.

The DGCX’s G6 currency portfolio also saw trading spike in March, registering Y-O-Y volume growth of 390.8%, and Y-T-D volume growth of 475.4% compared to the same period in 2019. And in another indication of the sustainable growth the Exchange is experiencing in resident interest and liquidity, Y-T-D Average Open Interest (AOI) last month was 380,869 contracts, up from 268,752 during the same period last year.

Corporates to be on high alert: BVC

Given the spread of the dreaded Corona virus across geographies, it is very important for all the corporates to be on high alert and take necessary preventive measures. BVC Logistics has temporarily suspended all the services, till the time of the national lockdown being in effect. However, we are available for any queries of our customers through our Toll Free Number.

ICA Ethical Member Accreditation Program

The International Colored Gemstone Association (ICA) announces the launch of their Accredited Ethical Member program (AEM), an online questionnaire which, upon completion, will recognize ICA Members for their responsible, ethical and sustainable trading practices.

In accordance with ICA's mission to provide greater consumer confidence, the AEM will lift awareness and improve the practices of their members in responsible, ethical and sustainable colored gemstone trading. The AEM is an educational tool, promoting best practices amongst ICA members. This not only improves consumer confidence, but it also enhances industry good-will.