GJ Town India

  Global gold trading volumes rose 20% in January 2025   In the Gold ETF Commentary, January in review, World Gold Council (WGC) reported, Global physically backed gold ETFs  saw net inflows during the first month of 2025, adding US$3bn in January. The most notable shift comes from Europe: while it led global outflows during most of 2024, it is now dominating inflows.  Despite gold’s strong performance, North American investors remained net sellers of gold ETFs in the month, while Asia and the other regions saw limited inflows. By the end of January, the total asset under management (AUM) reached US$294bn, another month-end record, and collective holdings continued to rebound (+34t).    In the highlights WGC report, 1: Global gold ETFs kicked off 2025 with positive flows, led by Europe, while North America saw outflows. 2: Following the second consecutive monthly inflow and supported by a higher gold price, global gold ETFs’ total AUM rose to US$294bn a...

  US$3000 is knocking on the door for Gold: Augmont   Less than a month and a half into 2025, the breakneck pace continues. The price of gold broke through the US$2,800 mark on January 31, and pushed above US$2,900 during intraday trading on Monday, February 11. All India Gem and Jewellery Domestic Council (GJC) remained watchful over the swift trend of gold price.   Rajesh Rokde – Chairman-GJC said, " As we witness gold crossing the $2,930 per ounce mark and continuing to rise day by day, it is a clear testament to the prevailing economic uncertainties. The persistent upward trend in gold prices underscores the growing need for safe-haven assets in volatile times.    Additionally, with the current GST rate of 3% on bullion and precious ornaments, both consumers and jewellers are facing an increased tax burden. To align taxation with industry realities and encourage compliance, it is imperative to reduce the GST rate to 1.25%. This move will not on...

Consolidated sales volumes fell 28% year-on-year   Operational Performance: The mining operations delivered steady operational performance, albeit at lower output levels as the business continued to reconfigure production in response to prevailing market conditions.   Rough diamond production decreased by 26% to 5.8 million carats, reflecting a proactive production response to the prolonged period of lower demand, and higher than normal levels of inventory in the midstream. De Beers continues to focus on managing working capital, and despite low sales volumes, inventory has reduced slightly year-on-year through managing purchases and downstream stocks.   In Botswana, production decreased by 31% to 4.2 million carats, as a result of planned actions to lower production at Jwaneng. Production in Namibia increased by 3% to 0.6 million carats, reflecting planned higher grade mining and better recoveries at Namdeb partially offset by intentionally lower production a...

  Deliberates Beyond Gems: Next-Generation Applications   Today marks the Grand Inauguration of Vajra Industry Research and Academic Meet (Vairam) 2025 an initiative by GJEPC and InCent LGD IIT Madras at IITM Research Park, Chennai, by Prof. V Kamakoti, Director, IIT Madras, Prof M S Ramachandra Rao, InCent-LGD, IIT Madras, Manish Jiwani, Co-Convener, LGD Committee, GJEPC and Sabyasachi Ray, Executive Director, GJEPC among other dignitaries and industry experts.  The workshop features several panel discussions. “Beyond Gems: Next-Generation Applications of OLab-Grown Diamonds” explores LGDs’ potential in various industries beyond jewellery.  “Lab-Grown Diamond Growth and Treatment Recipes and Challenges” delves into the intricacies of CVD and HPHT methods.    “Diamond Quality Checks and Certification” addresses the crucial need for standardised quality control for gems, jewellery, and seeds. “Lab Grown Diamond Machines and Processing Equipment” will hig...

  Celebrating love’s quietest moments ahead of Valentine’s Day   In a world where words often take center stage, Senco Gold & Diamonds, one of India’s leading jewellery retailers, is proud to unveil its latest campaign, Expressions of Love. Highlighting the silent yet powerful language of telepathic communication, the heart-warming campaign beautifully connects the dots between unspoken love and the timeless beauty of the jewelry.   Through relatable, everyday moments like a couple sharing a quiet dinner, a family exchanging knowing glances, or the tender smile of a loved one, the campaign showcases how love transcends words and is communicated through expressions.  These tender moments are seamlessly tied to Senco’s exquisite jewelry, serving as a symbol of the unspoken bonds between people. Further, the tagline, Expressions of Love -perfectly encapsulates the brand’s vision—showcasing love in its most pure and timeless form.    "At Senco Gold...

The MPC decided to reduce the policy repo rate by 25 basis points   The Monetary Policy Committee (MPC) met on 5th, 6th and 7th of this month. The Governor’s Statement after the MPC meeting contains not only the resolution of the MPC with regard to the policy rate and stance but also other announcements and measures, which have a bearing on the monetary and regulatory policies.   In this backdrop, the MPC, after a detailed assessment of the evolving macroeconomic and financial developments and the economic outlook, decided unanimously to reduce the policy repo rate by 25 basis points from 6.50 per cent to 6.25 per cent. Consequently, the standing deposit facility (SDF) rate shall be 6.00 per cent and the marginal standing facility (MSF) rate and the Bank Rate shall be 6.50 per cent.  The MPC also decided unanimously to continue with the neutral stance and remain unambiguously focussed on a durable alignment of inflation with the target, while supporting growth. RB...

  The G7 ban on Russian diamonds, effect Antwerp undeniable   AWDC announced the Annual trade figures of the Antwerp Diamond Industry. The numbers confirm what we have all felt: the diamond industry is facing a severe global crisis. Geopolitical tensions, weak consumer markets, and competition from synthetics have led to historically low demand and prices. Antwerp, as one of the world's leading diamond trading hubs, has been hit particularly hard.   The impact of the G7 ban on Russian diamonds, in effect since January 1, 2024, is undeniable. Before the war in Ukraine, over a third of all rough diamonds imported to Antwerp came from Russia. With these goods now absent, Antwerp's total rough diamond imports dropped by 35% in 2024. Overall, trade figures for the year declined by 25% compared to 2023, falling from $32.5 billion to $24.4 billion. "The industry is caught in a perfect storm," says Karen Rentmeesters, CEO of AWDC. "Sanctions, economic slowdown, a...