International News
Gemfields Launches $30 Million Rights Issue to Fund Growth Initiatives
Gemfields Group Limited has announced a fully underwritten Rights Issue to raise approximately $30 million through the issuance of 556.2 million new shares. The offer is priced at 4.22 pence (or ZAR 1.06860) per share, with shareholders entitled to subscribe for 10 new shares for every 21 held.
Regulatory approvals for the capital raise have been secured from both the Johannesburg Stock Exchange (JSE) and the UK Financial Conduct Authority (FCA). Shareholders had earlier approved the move at the Extraordinary General Meeting held on 19 May 2025.
The Rights Issue opens on 29 May and will close on 12 June 2025. The new shares are expected to begin trading on the JSE and AIM from 13 June 2025.
A global leader in coloured gemstones, Gemfields owns 75% of the Kagem emerald mine in Zambia, the Montepuez ruby mine in Mozambique, and the Fabergé luxury brand—supporting its vertically integrated, mine-to-market strategy.
International News
Global Bullion Markets Experience Downturn As US Fed Keeps Interest Rates Unchanged
Market Analysts Anticipate Continued Volatility In Precious Metals As Traders Digest The Fed’s Stance On Monetary Policy and Its Implications For Future Rate Trajectories
Global bullion markets experienced a downturn on Thursday as spot gold and silver prices each fell by nearly 1% following the U.S. Federal Reserve’s overnight decision to keep key interest rates unchanged. Domestic gold and silver prices in India are expected to reflect this global weakness throughout today’s trading session.
| Parameter | Details |
| Gold (MCX) Futures | ~₹1,43,600.00 – ₹1,43,724.00 per 10 grams |
| Silver (MCX) Futures | ~₹1,94,450.00 per kg |
| Key Contract Benchmark | December 2026 Gold Futures are hovering near ₹1,42,324 – ₹1,43,700 levels. |
| Spot Gold | Down ~1%, struggling around $4,044/oz. |
| Spot Silver | Down ~1%, trading below $53.50/oz. |
| U.S. Fed Policy Rate | Unchanged at 3.75% – 4.00%. |
In international markets, spot gold tumbled nearly 1% to trade near $4,044 per ounce, while spot silver dropped 1% to fall below $53.50 per ounce.
The market reaction follows the latest Federal Open Market Committee (FOMC) meeting, where policymakers voted to maintain the target range for the federal funds rate at 3.75% to 4.00% (3-3/4 to 4 percent).
In an official statement, the FOMC reaffirmed its commitment to supporting its dual mandate of maximum employment and price stability while continuing its policy of maintaining ample reserves within the banking system.
Market analysts anticipate continued volatility in precious metals as traders digest the Fed’s stance on monetary policy and its implications for future rate trajectories.
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