Mughal Garden collection!

Anmol celebrates its 32nd anniversary!

Anmol celebrates its 32nd anniversary by presenting an ode to the flamboyant valleys of Kashmir with Mughal Garden, a magnificent composition of art and precision. A masterstroke by the revelers of royalty, the collection comprises of majestic necklace sets, earrings, rings and bracelets, all carved in 18K gold.

Each opulent design is encrusted with the grandeur of traditional Jadau-polki, highlighted by tassel work in an abundance of lush emerald beads, sapphires, rubies and pearls. Accentuated by a galaxy of finest quality diamonds, this spectacular collection is a gentle reminder of the glorious Mughal Era and tastefully replicates the majestic charm of vintage aristocracy.

Mandela's Hands Cast artifacts on sell!

According to the IN, Arbitrade-a Canadian coin and cryptocurrency exchange, has used bitcoin to purchase a set of three solid gold artifacts associated with Nelson Mandela. The sale was finalized at this year’s PDAC convention in Toronto, and the sale was announced. In addition to the solid gold hand and fist, the collection also includes a palm impression of Mandela’s right hand.

Prior to the sale, Malcolm Duncan, the collection’s owner, estimated that the artifacts were worth up to US$13 million, and expected to be able to sell the set for between US$6 and US$10 million. After going up for sale in January, a unique collection of gold artifacts associated with former South African president and activist Nelson Mandela has been sold for US$10 million.

New Direct Flights to India!

BDW Participants to benefit!

A new direct flight between Israel and India will give a boost to the first-ever edition of the Bharat Diamond Week (BDW) at the Bharat Diamond Bourse (BDB) in Mumbai, India. The BDB is expecting thousands of visitors from India and abroad to take part in the April 23-25 international diamond week. Some 150 Indian companies will be exhibiting polished diamonds to buyers from across the world at the show which the BDB plans to hold twice a year.

"Visiting India from Israel is now easier than ever because Air India, which is India's national airline, is starting direct flights on March 22 between Israel and New Delhi with convenient connections to Mumbai," said Bharat Diamond Bourse Vice-President Mehul Shah, who is heading the Diamond Week project.

“Air tickets to Mumbai will cost the same price, meaning that visiting India for the show is both easy and at a competitive price level. So, welcome to the Bharat Diamond Week. Needless to say, there are direct flights to Mumbai from all the major diamond countries, so visitors from Belgium, Dubai, Hong Kong, the US, China, and elsewhere can easily reach us, and we are going to be delighted to welcome them" He added.

BDB President Anoop Mehta said: "The main aim in holding this show is to help the small and medium-size companies. They are the ones who really need a boost during these challenging times. They are not able to go to the big shows, so the Bharat Diamond Week allows them to participate on a level playing field."

There will be a display of synthetic diamond detection equipment with competitively priced services at Bharat Diamond Week. The organisers are also planning to hold specially organised seminars and meetings on the issue of synthetics, Mr Shah said. "The synthetics part of the Diamond Week is going to bring a great deal of added value for attendees, with the latest updates on this important issue," Mr Shah said.

The official launch took place on March 17 of a cricket tournament that will be held from April 8-15, in the run-up up to the Bharat Diamond Week. It will feature 12 teams with players from the following companies and organisations taking part: Asian Star, Ankit Gems, Bharat Diamond Bourse, Mahendra Brothers, Blue Star, Palanlur Samaj Kendra, Jewelex, Venus Jewel, Shree Ramkrishna Exports, GIA, Rosy Blue and Jasani.

BDB Vice-President Mehul Shah announces the formal launch of the cricket tournament and poses with participating companies and the trophy.

Visitors interested in registering can download the registration form at: http://bdbindia.org/download_files/Bharat-Diamond-Week---Exhibitor-Registration-Form-806-804-963.pdf

Alrosa revenue reached to 13.5mn in HK

Alrosa has summed up the results of the rough and polished diamond auctions organized as part of Hong Kong International Diamond, Gem & Pearl Show held in Hong Kong from February 27 to March 3, 2018. The United Selling Organization (USO) Alrosa sold 112 special size (over 10.8 carats) rough diamonds with the total weight of 1,787 carats. The total sales revenue amounted to USD 13.5 million.

Yi Gang the new chief to China’s central bank

According to the SCMP, Yi takes over from Zhou Xiaochuan, who has held the role for more than 15 years. Yi Gang was confirmed in the role at the National People’s Congress in Beijing. “I feel peaceful and solemn now as the mission is holy and glorious,” Yi told journalists after his appointment was announced.

Yi said he would keep following “prudent” monetary policy in China, promote financial reform and opening, plus maintain financial stability. The new central bank governor added that Beijing would announce a slew of new “reform and opening” policies from now to the Boao Forum for Asia in early April, an event known as Asia’s Davos. Chinese President Xi Jinping will attend this year.

Online jewellery grows YoY by 150% in India

The traditional method of buying jewelry in India undergoes a facelift with Amazon Fashion. Amazon Fashion forayed into precious jewelry in 2014 and now offers India’s largest selection with over 100+ most trusted brands including Joyalukkas, Malabar, Senco, MMTC & Kalyan Jewelers to name a few, offering a selection of over 5 lakh styles and over 1 lakh unique designs.

Leadership in selection, increased demand from Tier 2 and Tier 3 cities, strict measures for quality control and tech innovation for enhanced shopping experience have resulted in increased sales of 150% on the back of the successful festive season in 2017-18. The average selling price for precious jewelry has seen a significant increase indicating a change in customers’ trust and ease of shopping for precious jewelry online on Amazon online.

I:     Growth of the Precious Jewelry Category, 

1:    The top selling sub categories within the precious jewelry category are pendants, earrings, gold chains and nose pins. Most popular products being Tushi Necklaces, Gold Chains, 22K Gold Bangles, 22K Gold Necklaces, Diamond Earrings, Diamond Nose Pins and 999.9 purity coins (among Bullion)

2:    Bullion and Gold Coins have grown close to 300% YoY. Amazon Fashion has a strong leadership in 999.9 purity coins and the have alone grown close to 300% YoY with brands like         Kundan, MMTC-PAMP, Bangalore Refinery and RSBL and 22K Gold Jewelry.

3:    Gold jewelry has seen a growth of 200% YoY with Senco Gold, Joyalukkas and Malabar Gold leading the way.

4:    55% demand for precious jewelry comes in from Tier 2 and Tier 3 cities, especially the tier 3 cities of Belagavi, Mandya, Raigarh, etc.

II:    Tech Innovations in Precious Jewelry Category,

i:      The latest tech innovation with a Price Break-up feature further enhances a seamless buying experience for customers. This feature allows customers to view price information of metal, stone, making charges and taxes, thereby empowering the customers with all pricing information to make an informed purchase decision.

ii:     Additionally, Amazon Fashion has launched secure delivery mechanisms for ease of shopping and have also launched Prime selection that is available to customers for a 2-4 day delivery especially during the festive season.

III:   Quality Control and Secured Delivery for Precious Jewelry, 

A:    Precious jewelry is a gated, invite-only category on Amazon Fashion wherein listings are only allowed from sellers who have BIS hallmarking, diamond certification (for jewelry) and self-certification for gold coins.

B:    Amazon Fashion has launched 100% insured, high value carriers to ensure a secure delivery for the customers understanding the nature of the category.

IV:  Interesting Insights,

a:    Two to three weeks before Akshaya Tritiya and Dhanteras result in significant rise in sales. Additionally, the demand for precious jewelry is also at peak for gifting before Valentine’s Day, Rakshabandhan and the wedding season.

 b:    While traditional designs are the most sought after, modern-contemporary designs have seen an increased interest from metro and smaller cities.

Silver jewellery demand grew by 59%

Jewelry retailers in the United States described strong silver jewelry sales last year, with 59% reporting increased sales in 2017, according to a survey conducted on behalf of the Silver Institute’s Silver Promotion Service (SPS).

The results also showed that silver jewelry continues to be a leading merchandise category for retailers, especially in driving sales when compared to other precious metals. According to the highlights from the 2017 survey includes, 1: The average store growth for silver jewelry sales was 17%.

DPMC to focus entire spectrum!

DMCC, the world’s leading Free Zone for commodities trade and enterprise, announced that it will hold the 7th edition of its industry-leading annual Dubai Precious Metals Conference (DPMC) on 9 April 2018, at The Westin Hotel, Habtoor City, Business Bay.

All set to bring a fresh global outlook on the precious metals sector and what the future holds, the annual conference looks at topics of interest to the whole value chain – from mines to jewellers and everything in between – bringing insights and added value, as well as a valuable opportunity to network and develop ideas for services.

RBI needs a loan recover policy

As per instructions of Reserve Bank of India (RBI), banks are required to have a loan recover policy, which may cover, inter alia, negotiated settlements of NPAs. As per inputs received from Public Sector Banks (PSBs), all PSBs have One Time Settlement (OTS) schemes.

These OTS schemes are in pursuance of Board-approved policies of banks, and are typically oriented towards sectors such as agriculture, Micro Small and Medium Enterprises (MSMEs), weaker sections and education loans, and typically have an upper limit on the amount of NPA.

Alrosa sales increase in 2017!

In 2017, the Company produced 39.6 million carats of rough diamonds, 2017 revenue was RUB 275.4 bn, said PJSC ALROSA, the global leader in rough diamond production. By announcing its FY 2017 IFRS results says,

The Company’s 2017 revenue amounted to RUB 275.4 bn, EBITDA to RUB 126.9 bn, net profit to RUB 78.6 bn.