Update on coral resource traceability
On January 20th 2020 at 12:30, at the VO Square of pavilion 6 in Vicenzaoro January - important updates on the sustainability and traceability of the coral resource. During the awaited meeting, the methods of evolution of the collection of the coral used in jewelry increasingly directed towards sustainable use will be illustrated thanks to the support of supranational bodies and organizations.
The Jewelled Tiger, a numismatic treasure
Struck from 10oz of pure gold, The Jewelled Tiger is a numismatic treasure honouring one of the most powerful animals in oriental culture with a magnificent three-dimensional representation of the beast known as the 'king of the mountain'.
The tiger's body is crafted from 18-carat rose gold and meticulously pavé-set with 328 spectacular Argyle pink diamonds. A Muzo emerald shines from each eye. An ancient symbol of courage, strength and ambition, the tiger is depicted atop a rocky outcrop with its mouth open in a display of dominance.
CBDT grants relaxation in filing of ITR
In order to ensure that the e-filing utility for filing of return for assessment year (A.Y) 2020-21 is available as on 1st April, 2020, the Income-tax Return (ITR) Forms ITR-1 (Sahaj) and ITR-4 (Sugam) for the A.Y 2020-21 were notified vide notification dated 3rd January, 2020.
In the notified returns, the eligibility conditions for filing of ITR-1 & ITR-4 Forms were modified with intent to keep these forms short and simple with bare minimum number of Schedules. Therefore, a person who owns a property in joint ownership was not made eligible to file the ITR-1 or ITR-4 Forms.
Gold industry India in the cusp of transformation!
Recently Somasundaram PR, Managing Director, India-World Gold Council said on the mandatory hallmarking notification. He said, "The gold industry in India is at the cusp of transformation, as transparency, standards and infrastructure begin to define the next phase of reforms."
Earlier, the Union Minister of Consumer Affairs, Food and Public Distribution held a press conference & said regarding mandatory hallmarking of Gold jewelry & artefacts in India for which notification will be issued by the Department of Consumer Affairs providing a period of one year for implementation i.e. till January, 2021.
Lucara & Louis Vuitton Enters Collaboration
Lucara Diamond Corporation announces that it has entered into a collaboration with Louis Vuitton (LV), the famous luxury House, and the HB Company (HB), a diamond manufacturer from Antwerp, to manufacture its historic, record setting, 1758 carat Sewelô diamond recovered from its 100% owned Karowe Diamond Mine in Botswana in April 2019.
Sewelô, which means, rare find in Setswana, is the second, +1000 carat diamond recovered from Karowe in four years and the largest ever recovered in Botswana. The diamond has been characterized as near gem of variable quality, with recent analysis confirming that it also includes domains of higher-quality white gem.
Polishing strategy delivers at Lucapa!
Lucapa Diamond Company Limited announces the successful outcome of the Company's first cutting & polishing partnership, marking a milestone for Lucapa's move along the diamond value chain. The 36 carat rough diamond from the Mothae kimberlite mine in Lesotho was manufactured into six polished D-colour diamonds under a cutting & polishing partnership with a leading international diamantaire.
The two largest polished diamonds produced from the 36 carat Mothae stone were both graded as D-colour and Flawless by the Gemological Institute of America (GIA), including the exceptional 8.88 carat Pear diamond pictured below. The market value of the polished diamonds represents a significant increase over the rough stone.
A positive gold performance in 2020
Outlook 2020: Global economic trends and their impact on gold, the report made public by the World Gold Council (WGC), is the market development organisation for the gold industry. Their purpose is to stimulate and sustain demand for gold, provide industry leadership, and be the global authority on the gold market.
Gold outlook 2020 says Risk appetite amid high uncertainty! "We expect that the interplay between market risk and economic growth will drive gold demand in 2020. In particular, we focus our attention on: 1: financial uncertainty and lower interest rates, 2: weakening in global economic growth & 3: gold price volatility. We also explore the performance of gold implied by our innovative Gold Valuation Framework across various hypothetical macroeconomic scenarios!" WGC said in report.
Yet the outlook is: 'generally positive implied performance for 2020!' Gold rallied by 4% in December 2019, increasing by an additional 6% by 7 January 2020. While we believe that there are various reasons for this move, tensions in the Middle East linked to the US-Iran confrontation ultimately pushed the gold price to an almost seven-year high in early January.
Subsequent comments by President Trump aimed to ease concerns, pushing the price down to the US$1,560/oz-US$1,550/oz level as of 10 January 2020. Yet, gold still remains still 2.6% higher relative to the end of 2019.4
We expect that investor positioning related to this specific event will likely influence gold's performance in the near term. But over the medium term, broader financial and geopolitical uncertainty and developments in monetary policy will play a more important role.
For example, using Qaurum, we analysed the performance of gold as implied by four different hypothetical macro-economic scenarios provided by Oxford Economics. These included, 1: a global deceleration (their base-case scenario), 2: a US-led recession, 3: a more pronounced slowdown in China & 4: an economic improvement in emerging markets.
The result of the analysis suggests that, in general, gold may see a positive performance in 2020. While some of the scenarios – with the exception of an economic upturn in emerging markets – could result in lower consumer demand, its dampening effect on price performance will likely be offset by potentially robust investment demand on the back of deteriorating credit conditions and stable to lower interest rates.
It is important to note, however, that this is not a comprehensive list of possible scenarios. Instead, they reflect key investor concerns as per Oxford Economics' Global Risk Survey. Therefore, hypothetically, improving market sentiment – for example, a reduction on perceptions of risk, a lower likelihood of further rate cuts by the Fed or other major central banks, or tighter monetary policy through means other than rate cuts – could put downward pressure on gold's price performance relative to the scenarios currently available.
Vo Vintage, unique and rare pieces
The exclusive vintage watch and Jewellery event
from 18th to 20th January at Vicenzaoro January!
Vo Vintage is an exclusive event on the Italian and international trade show scene with legendary creations and extremely rare examples of watch and jewellery history together with the sector's most authoritative players. Italian Exhibition Group (IEG) is launching Vo Vintage entirely dedicated to the collector's segment with some of the most sought-after, unique and rare pieces from the world of vintage timepieces and jewellery.
During Vicenzaoro January 2020, at the Vicenza Exhibition Centre, Vo Vintage, from Saturday 18th to Monday 20th January, will be running alongside the original trade show format with a programme further enlivened by the most esteemed and well-known experts on the international scene.
Government proclaims mandatory hallmarking
The Union Minister of Consumer Affairs, Food and Public Distribution held a press conference regarding mandatory hallmarking of Gold jewelry & artefacts in India for which notification will be issued by the Department of Consumer Affairs providing a period of one year for implementation i.e. till January, 2021.
Addressing the media, Shri Paswan said that the purpose of making hallmarking mandatory for Gold Jewelry and Artefacts is to ensure that consumers are not cheated while buying gold ornaments and get the purity as marked on the ornaments, they are better informed about the purity of Gold which will now be in only 3 caratage i.e. 14, 18 and 22 and corruption is removed.
TAGS' rough diamond tender in Dubai
TAGS' upcoming rough diamond tender in Dubai! Trans Atlantic Gem Sales (TAGS) is announces their upcoming rough diamond tender taking place from the 22nd to the 27th of January 2020 in the state-of-the-art facility at the Dubai Diamond Exchange, Almas Tower in Dubai.
Two regular productions from South Africa and Angola will be presented. The rough is of high quality and high colour and contains a significant number of large single stones and exceptional specials.