International News
Zambia Lifts 15% Export Duty on Precious Gemstones
Gemfields Group Limited has expressed strong support for the Zambian government’s decision to suspend the 15% export duty on precious gemstones and metals, a move expected to significantly boost the country’s emerald industry. The suspension, announced by Zambia’s Minister of Finance, Dr. Situmbeko Musokotwane, is effective immediately, meaning the duty will no longer apply to emeralds mined by Kagem Mining Limited. The company is majority-owned by Gemfields (75%) with the remaining 25% held by Zambia’s Industrial Development Corporation.
Gemfields CEO, Sean Gilbertson, lauded the government’s swift action, stating, “We express our sincere thanks to President Hakainde Hichilema’s government for their prompt and impressive action in addressing the 15% export duty on precious gemstones. The Zambian emerald sector has experienced exceptional growth over the past 16 years and is now the world’s largest emerald exporter. This decision signals a clear commitment to fostering growth and job creation in Zambia, putting our industry back on track for continued success.”
International News
Precious Metals See Profit-Taking On Firmer Dollar, Cooling Crude Prices
Geopolitical Optimism Triggers Risk Premium De-escalation
Precious metals are witnessing a bout of profit-taking this Thursday, with Comex gold slipping 1% to $4,507 and silver tracking lower by 1.58% to $71.49. The intraday cooling comes as investors weigh a firmer dollar against a backdrop of shifting geopolitical narratives and cooling crude prices.
The primary driver for the morning’s retreat appears to be a cautious de-escalation in risk premiums. Reports that Tehran is reviewing a U.S. proposal to end the ongoing conflict have injected a dose of optimism into the markets, softening the immediate “flight to safety” that has bolstered bullion recently. Gold briefly touched levels near $4,498 earlier in the session before finding minor support.
Analysts attribute silver’s underlying strength to a combination of industrial demand and its role as a macroeconomic hedge. Market experts suggest that the current volatility is likely intermittent. The overarching trend remains anchored by a weakening dollar and expectations that central banks may ease off aggressive interest rate hikes.
Legacy Brand Jagannath Gangaram Pednekar Jewellers Receives IAGES Accreditation
Precious Metals See Profit-Taking On Firmer Dollar, Cooling Crude Prices
CaratLane Appoints Yami Gautam Dhar as Its First-Ever Brand Ambassador, Marking a New Chapter in the Brand’s Evolution
CaratLane Appoints Yami Gautam Dhar as Its First-Ever Brand Ambassador, Marking a New Chapter in the Brand’s Evolution
Legacy Brand Jagannath Gangaram Pednekar Jewellers Receives IAGES Accreditation
Bhima Jewellery Expands Presence in Tamil Nadu with Grand Opening of Ramanathapuram Showroom by actress Aishwarya Lekshmi
-
BrandBuzz7 hours agoCaratLane Appoints Yami Gautam Dhar as Its First-Ever Brand Ambassador, Marking a New Chapter in the Brand’s Evolution
-
National News5 hours agoLegacy Brand Jagannath Gangaram Pednekar Jewellers Receives IAGES Accreditation
-
GlamBuzz9 hours agoBhima Jewellery Expands Presence in Tamil Nadu with Grand Opening of Ramanathapuram Showroom by actress Aishwarya Lekshmi
-
International News6 hours agoPrecious Metals See Profit-Taking On Firmer Dollar, Cooling Crude Prices
JewelBuzz is Asia’s First Digital Jewellery Media & India’s No.1 B2B Jewellery Magazine, published by AM Media House. Since 2016, we’ve been the trusted source for jewellery news, market trends, trade insights, exhibitions, podcasts, and brand stories, connecting jewellers, retailers, and industry professionals worldwide.