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Currently, there is no standard method for arriving at the value of gold accepted as collateral and valuation is arbitrary and opaque.
Gold is one of the world's most sought after metals.
If hallmarking data are anything to go by, the proportion of spurious jewellery in the country might have shrunk significantly in the past five years.
The National Mineral Development Corporation (NMDC) has unearthed a precious 37.68 carat diamond, the biggest so far, from its Madhya Pradesh-based Panna mines.
'Irrespective of the price movement of gold, customers can lock in their purchase at Rs 28,000 per 10 grams of pure gold.'
It's a $2 million, 20 carat diamond ring!
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Due to less supply and rising demand from American and Asian markets on the back of economic recovery, the prices of rough diamonds ('roughs') have risen 50 per cent since July.
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Dubai's diamond trade, mainly driven by India, Belgium and Hong Kong, in value terms fell by 13 per cent to $18 billion in 2009 due to lower rates of the precious stone
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Do you love gold? Then this five-star hotel in Vietnam is just for you. Welcome to the Dolce Hanoi Golden Lake hotel in Vietnam, which opened its doors on July 2. Here's a glimpse inside the shiny structure!
Gold, which lost its sheen to some extent in the second half of 2021, is likely to regain the glitter in the New Year and cross the Rs 55,000-per-10-grams level amid pandemic woes, inflation worries and stronger US dollar. After a stellar run up in 2020 when the yellow metal touched a record high of Rs 56,200 on the MCX in August, the prices are near Rs 48,000 per 10 grams now. This is roughly 14 per cent lower from the all-time highs and 4 per cent lesser compared to January 2021 levels.
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Apart from the regional exploration for gold and diamond undertaken by Geological Survey of India, since the year 2000, the Indian government has been giving prior approvals for grant of reconnaissance permits for regional exploration of gold and diamond to various applicants, including private companies, said a statement from Ramdas Agarwal, Minister of Mines.
Round-tipping creates the opportunity for exporters to source funds at a much cheaper cost, which they divert to some other business.
The return of the Kohinoor diamond to India has been a long-standing demand, with many claiming that the diamond was taken away forcibly by the British.
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Chidambaram showed a total income of Rs 8.58 crore for 2014-15, while his wife Nalini showed income of Rs 1.25 crore for the same period.
The mine is likely to yield 37 million tonnes of kimberlite, containing about 27.4 million carats of diamonds and has a life of 25 years.
The diamonds, one a white 47 carat and the other a 15.74 blue diamond, were on display at a stall put up by Swiss jewelry label Chopard in the underground shopping arcade at the Louvre, outside the museum's art galleries.
India's direct import of roughs was $767 million from Russia in 2013, a little less than five per cent of India's total import of roughs.
The diamond it was handed over to the United Kingdom under the 'Treaty of Lahore' in 1849.
Well, you could buy the world's most expensive pair of women's shoes for an astronomical $2 million!
A plum-sized flawless diamond known as the Pink Star has been sold for a staggering $83 million at an auction in London, a record price for a gemstone.
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'We did not know we would one day dominate nearly 70 per cent of the market.' 'Today, of 100 diamonds available for trade in Antwerp, 93 are cut and polished in India.' A fascinating excerpt from Shantanu Guha Ray's The Diamond Trail: How India Rose To Global Domination.
Indian jewellery exporters see a ray of hope as the country opts for more carats.
Dealers with turnover of Rs 2 crore and above covered; industry says threshold too low
US technology major Apple on Friday started selling Apple Watch in India at a starting price of Rs 30,990 to Rs 9.9 lakh per unit.
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Import by 4-star and 5-star export houses effectively barred from importing for domestic consumption.
Diamond supply chain is controlled by a limited number of powerful businesses, and is also highly concentrated in a small number of locations around the world.
The new law will have penal provisions of Rs 50 lakh and five year imprisonment for celebrities promoting sale of items without verifying the quality.
A rare pink diamond is set to hit a new world record for a jewel sold at auction next week at Sotheby's.
The diamonds -- of three and two carat each studded in a gold pendant -- valued at Rs 1.18 crore were found in a cash box on Tuesday, they said.
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