International News
CA Congress embraces sustainability initiatives in Brazil and Africa, guides trade on tariffs
The May 19-22 ICA Congress highlighted initiatives towards greater sustainability in Brazilian and African gemstone mining, and gave guidance to the global gemstone trade on how to face up to the challenge of tariffs.
The Congress of the International Colored Gemstone Association (ICA) in Brasilia heard calls from speakers to develop responsible sourcing of coloured gemstones in Brazil by improving permissions for small-scale artisanal miners, who extract most of the South American country’s vast array of coloured gemstones.
Geologist Brian Cook, owner at Nature’s Geometry, appealed at the ICA Congress for more support for Brazilian artisanal mining communities in order to strengthen the industry. Cook urged more state-backed initiatives as well as investments to support responsible sourcing and permissions in artisanal mining areas, while ensuring health and safety.Regenerative agriculture, new income resources and entrepreneurial opportunities can be introduced to move towards greater sustainability in artisanal mining, he added.
The “Gems Keep Giving” initiative presented information about a life-changing project in Kenya and a new project that has started in Brazil to combat silicosis, which is a form of occupational lung disease caused by inhalation of crystalline silica dust.
A video presentation about a “Gems Keep Giving” water purification project in Kamtonga, Kenya, supporting the small-scale artisanal mining community there, received a standing ovation from the audience.
The ICA’s leadership advised their members around the world, faced with the challenge of tariffs, to contact their local government representatives to press for preferential trade deals, and to seek out contacts with US trade representatives.
ICA and the US Jewelers Vigilance Committee (JVC) are planning webinars in the coming months to inform members about tariffs and how to facilitate trade and shipping in coloured gemstones.
A possible rise in US tariffs after expiration of the present 90-day pause, could trigger investment in cutting and polishing in gemstone origin countries, Sara Yood, President, CEO and General Counsel at the JVC, told the ICA Congress.
If tariffs, presently held at 10 percent, revert to higher rates in key gemstone manufacturing countries such as India and Thailand, more investments in crafting operations in gemstone origin countries may follow, Yood said during a question-and-answer session. “Businesses may look to keep more cutting in mining countries, especially if those mining countries have a preferential tariff rate,” she said.
The ICA leadership summed up the impact of the Congress, underlining the strength of engagement by attendees at the event.
International News
Significant Upside Trajectory In The Metals Sector
Precious Metals Surge on Geopolitical Optimism as Gold and Silver Rally, While Crude Oil Faces Downward Pressure Amid Ongoing US–Iran Developments
Gold rates and silver rates in India will be driven by global trends, as the Indian market is closed. Trading in commodities, including gold and silver, will be closed for half a day on April 14 at MCX.
We are seeing a significant upside trajectory in the metals sector, driven by recent geopolitical synergies:
- Gold Asset Class: Spot prices have achieved a value-add recovery, scaling past the $4,760/oz threshold.
- Silver Asset Class: Currently experiencing a high-growth phase, surging approximately 2% to reach a target density near $77/oz.
- Market Bandwidth: While the MCX interface is currently undergoing a scheduled half-day service window on April 14,
- Energy Sector Headwinds
Conversely, the energy vertical is facing downward scalability issues:
- Crude Oil Index: Both US WTI and Brent Crude are failing to gain leverage, currently underperforming by 2% and hovering around the $98/bbl mark.
Geopolitical Synergy & Risk Mitigation
The recent bullish momentum in precious metals is a direct byproduct of strategic bilateral engagement between the US and Iran. Key stakeholders are currently deep-diving into negotiations to extend the current truce framework.
- US Perspective: President Trump has acknowledged a proactive outreach from Tehran following the implementation of a naval blockade.
- Iranian Alignment: President Pezeshkian has signaled readiness to move the needle on peace discussions, provided all deliverables remain within the compliance framework of international regulations.
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