NEWS

Silver to remain in a small surplus in 2019

Silver to remain in a small surplus in 2019

At the Annual Silver Industry Dinner hosted by the Silver Institute, Philip Newman, Director at Metals Focus presented the Metals Focus / Silver Institute Interim Silver Market Review, which featured historical supply and demand statistics and provisional estimates for 2019.

 

The following are the key highlights from the presentation: 1: Even allowing for the recent, modest pull-back in the silver price, the last few months have seen a major improvement in investor sentiment towards silver.

 



Commercialization of Lac jewellery

Commercialization of Lac jewellery

The study undertaken, to identify and know the status of the lac jewellery and craftsmen in all cultural and geographical pockets, to examine and develop the process of commercialization of traditional craft of LAC jewellery, to develop, if possible with immediate effect, standards/benchmark for quality works in arts/ creativity so that the internationally acceptability can be compared.

 

The Study also focussed to develop a sustainable model for Lac Craft through design and technical interventions for it to re-establish in the current context.

 


Conference to streamlining GST system held

Conference to streamlining GST system held

The 2nd National GST Conference of the Commissioners of State Tax and Chief Commissioners of Central Tax was held here today under the chairmanship of Dr Ajay Bhushan Pandey, Revenue Secretary, Ministry of Finance.

 

The multi-faceted Conference was focused on brainstorming session for streamlining Goods and Services Tax (GST) system and plugging revenue leakages. This was the 2nd edition of all India Conference where both tax administrations came together formally to build synergy and to share their knowledge and best practices with intent to bring about uniformity in tax administrations.

 

117 carat diamond, a positive start to 2020

117 carat diamond, a positive start to 2020

Lucapa Diamond Company and its partners Endiama and Rosas & Petalas announced the recovery of a 117 carat diamond from the Lulo alluvial mine in Angola. The gem-quality 117 carat stone is the 14th +100 carat diamond recovered to date from Lulo by Lucapa and its partners and the first for 2020.

 

Gem-quality 117 carat Lulo diamond The 117 carat diamond was among the Specials (+10.8 carat diamonds) recovered recently from Mining Block 19. Mining Block 19 is located between the prolific Mining Blocks 6 and 8, which have together produced 12 +100 carat diamonds, including Angola’s biggest recorded gem – the 404 carat 4th February Stone recovered and sold in 2016 for US$16 million.

 


Can diamond jewelry sales exceed $100 bn by 2030?

Can diamond jewelry sales exceed $100 bn by 2030?

Diamond market conditions improved in December as US and Chinese holiday demand helped raise sentiment. Polished prices stabilized, supported by shortages of better-quality goods. The RapNet Index for 1-carat diamonds slid 0.2% in December and 5.3% for the full year. The index for 0.30- and 0.50-carat stones firmed in the fourth quarter following steep declines earlier in the year. High-end categories of 3 carats and larger remain weak.

 

The market in 2019 was supply-driven, as noted in the Diamond Price Statistics Annual Report that appears in this month’s issue of Rapaport Magazine. An oversupply of diamonds set a negative tone, leaving the trade with numerous diamonds that were difficult to sell. Inventory levels declined in the fourth quarter, but there were a lot of lower-quality goods still available at the end of December.

 


 

Discovery of 2 High-Grade Oxide gold Zones

Discovery of 2 High-Grade Oxide gold Zones

Liberty Gold Corp announced additional drill results from its Carlin-style Black Pine Property in southern Idaho, USA.  Reverse Circulation drilling at Black Pine continues to return thick, high-grade intervals of Carlin-style oxide gold mineralization. New results reflect step-out drilling on all sides of the Discovery 2 Zone. Exploratory holes were also drilled to the south, east and west of the Discovery 1 and 2 Zones.

 

The Discovery 2 Zone continues to deliver thick, high-grade oxide gold intercepts in drill holes. Most highlight intercepts to date are oxide. Weighted average cyanide solubility for the primary high-grade interval in LBP088 is 92%, for LBP090, 86%, and for LBP095, 85%.

    


Gold price increased 18.4% in 2019

Gold price increased 18.4% in 2019

According to the World Gold Council, 2019 Highlights, North American and European funds drove almost all inflows each growing 14% in 2019, SPDR Gold Shares and iShares Gold Trust collectively represented nearly half the global inflows & Global gold-backed assets under management (AUM) grew 37% in US dollars during the year as a result of positive demand, combined with an 18.4% increase in the gold price.

 

Global gold-backed ETFs and similar products had US$19.2bn, or 400 tonnes(t), of net inflows in 2019 in almost all countries, after holdings rebounded in December.2 Collective ETF holdings reached all-time highs of ~2,900t in the fourth quarter.

 




Schofer New Year - new colors!

Schofer New Year - new colors!

In 2020, chains and bracelets get cheerful, due to two new Pantone colors, which come in acrylic with high abrasion resistance. Yellow Iris radiates optimism, while Beetroot Purple surprises with a flashy hue. A strong statement for the enjoyment of life!

 

Trade Shows 2020: VicenzaOro January, IJS Hong Kong, Oroarezzo, JCK Las Vegas, VicenzaOro September & JGF Hong Kong.

 


GDP India to remain at 5% during 2019-20

GDP India to remain at 5% during 2019-20

The National Statistical Office (NSO), Ministry of Statistics and Programme Implementation has released the First Advance Estimates of National Income at both Constant (2011-12) and Current Prices, for the financial year 2019-20 along with the corresponding estimates of expenditure components of the Gross Domestic Product (GDP).

 

The First Advance Estimates of GDP have been released in accordance with the release calendar of National Accounts. The approach for compiling the Advance Estimates is based on Benchmark-Indicator method. The sector-wise Estimates are obtained by extrapolation of indicators like (i) Index of Industrial Production (IIP) of first 7 months of the financial year.

 


WFDB Mourns Sergey Oulin!

WFDB Mourns Sergey Oulin!

World Federation of Diamond Bourses (WFDB) mourns the passing away of Sergey Oulin on December 31, 2019 at the age of 69 years. President Ernie Blom has, on behalf of the entire organisation, expressed sadness at the loss of a colleague and friend.

 

Oulin was the President of the Diamond Chamber of Russia and former member of the WFDB Executive Committee (ExCo).

 


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