NEWS
China Gold Reserves Flat For 4th Month in February
Beijing: China's gold reserves were
unchanged for a fourth month in February, the country's central bank said on,
the longest time in which it has not added to its holdings since it began
updating the data monthly in mid-2015.
Indian Gold Demand to Recover up to 750 Tonnes in ’17
Mumbai: The World Gold Council (WGC) has
said in its latest Market Update that it expects Indian gold demand to recover
from the lows of 2016 and reach levels of between 650-750 tonnes in 2017,
before climbing further to about 850-950 t by 2020. The industry body stated
that the gold market was one of the sectors of the Indian economy that was
rocked last year by “a barrage of policy initiatives aimed at purging India of
black money and instilling greater transparency”.
Alrosa Delays Start of Investment Diamonds Trading on Moscow Exchange
Moscow: Russian diamond miner Alrosa has
delayed the start of investment diamonds trading on the Moscow Exchange until
the summer.
Industry Productivity Dropped 30%: Mark Cutifani
Toronto: Productivity remains number one
operational challenge for the industry as it has dropped by 30% over the last
decade, said Mark Cutifani, CEO of Anglo American, in his speech at the
Prospectors and Developers association of Canada convention.
All Parcels Sell at Gahcho Kué Tender
Toronto: Mountain Province sold 277,646
carats of rough diamonds at its second tender of production from the Gahcho Kué
mine in Canada.
Mines to Market Conference on 19th-20th March in Mumbai
Mumbai: India’s Gem & Jewellery Export
Promotion Council (GJEPC) has announced an international diamond conference
Mines to Market which is will be held in Mumbai on 19th and 20th March, 2017.
HK Retail Sales Continue to Dip in January
Hong Kong: Retail sales in Hong Kong across
all categories registered 0.9% drop in value terms and a 1.4% fall in volume
terms year-on-year, according to statistics released last week by the HK
government. Sales have now fallen for the last 23 consecutive months, though
the rate of decline last month has been relatively slower than before.
Zimbabwe Diamond Company Fires Another CEO
Harare: The Zimbabwe Consolidated Diamond
Company (ZCDC) has fired its acting chief executive Ridge Nyashanu amid reports
of a dramatic plunge in production and revenue, reports the Zimbabwe
Independent. The ZCDC produced about 900,000 carats last year from peak figures
of 12 million carats annually.
AGS Announces 2017 Circle of Distinction Honorees
New York: The American Gem Society (AGS)
will honor three leaders in the jewelry industry at its annual Circle of
Distinction dinner on July 25 in New York City.
Helzberg Diamonds to Receive DEF Award
Las Vegas: The Diamond Empowerment Fund (DEF) will honor Helzberg Diamonds for its contribution to society, at an award ceremony in Las Vegas later this year.