International News
Gold near fresh all-time highs ahead of US trading session
Gold’s price (XAU/USD) is seeing gains tick up trading near $2,952 at the time of writing, fueled by a weaker US Dollar (USD) and softening US yields in a reaction to the recent German federal election outcome. Although the far-right party Alternative for Germany (AfD) has gained 20% of votes, the Christian Democratic Union of Germany (CDU) is comfortable in the lead with 208 seats against AfD’s 152. US yields dropped off and the CME Federal Reserve (Fed) Futures are now favoring a 25 basis points (bps) rate cut in June, where last week odds were rather for no rate cut in June.
Meanwhile, traders will watch the US Gross Domestic Product (GBP) release for the fourth quarter of 2024 later this week. Given the recent slowdown in US activity and economic data (for example, the softer Services Purchase Managers Index (PMI) reading on Friday), another drop in US yields could be triggered, with markets anticipating the Federal Reserve lowering its monetary policy rate to boost the economy and demand. The US dollar weakened after several reports and economic data points last week revealed that US business activity slowed and consumer confidence waned, with expectations for inflation surging and markets pricing in more rate cuts by the Federal Reserve this year.
DiamondBuzz
International Diamond Premier League to be held in Hong Kong
Designed as a community-building initiative, IDPL uses cricket to connect major natural diamond hubs on a single platform.
The third edition of the International Diamond Premier League (IDPL), a cricket tournament created for the global natural diamond community, will be held in Hong Kong from 19 to 22 March 2026.
Following its earlier editions in Belgium and India, IDPL 3.0 will bring together leading diamantaires and industry partners from Belgium, India, and Hong Kong for four days of competitive cricket and networking.
The Grand Opening Ceremony is scheduled for 22 March 2026 at 11:00 AM at the Tin Kwong Road Recreation Ground, and will be attended by industry leaders, dignitaries and invited guests.
Designed as a community-building initiative, IDPL uses cricket to connect major natural diamond hubs on a single platform. By bringing together teams from India, Belgium and Hong Kong, the league highlights the shared interests of manufacturing, trading and retail centers that drive the natural diamond pipeline.
The Hong Kong edition aims to strengthen collaboration among diamantaires, manufacturers, retailers and service providers across continents, while also promoting confidence in natural diamonds by emphasizing their rarity, craftsmanship and enduring emotional value. The event also underscores Hong Kong’s position as a strategic bridge between East and West for the diamond and jewellery trade.
Through its matches and associated activities, IDPL 3.0 places the spotlight on natural diamonds and the people behind the industry—from cutting and polishing specialists to high jewellery houses and secure logistics providers—demonstrating a collective commitment to integrity, excellence and long-term growth for the natural diamond sector.
SimStar Asia Limited, part of the Sim Gems Group and a Hong Kong-based manufacturer and supplier of high-end natural diamonds, is the Title Sponsor, while Lamha Gems Limited joins as Diamond Sponsor supporting the league’s mission to bring international diamantaires together.
Among the other partners, Ferrari Group, a global specialist in secure logistics for jewellery, luxury goods and precious metals, is the Platinum Sponsor, while Malca-Amit Group of Companies, known for secured delivery, vaulting and trade-show logistics for the diamond and jewellery trade, is the Gold Sponsor. Hong Kong-based high jewellery house Dehres will support the initiative as the Silver Sponsor, reinforcing its commitment to the natural diamond trade.
Team sponsorship also reflects the industry’s global participation. Anita Diamonds, represented by Chirag Shah, is sponsoring the Belgium team, showcasing the dynamism of Antwerp’s diamond community. Meanwhile, H S Jogani, led by Ronak Jogani, is sponsoring the India team, highlighting India’s longstanding leadership in diamond cutting, polishing and trading.
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