The US$ 27 billion Indian gems and jewellery industry is the fastest growing jewellery market in the world. Recognised as the diamond polishing capital of the world, the country is gaining prominence as an international sourcing destination for high quality designer jewellery with global retail majors such as Wal-Mart and JC Penney procuring jewellery from India.
By Jeffrey Nichols
The snap-back in the U.S. dollar price of gold this past week to $1,100 an ounce may mark the beginning of a new upward phase in the metal’s long-term bull market. Importantly, gold found support near its early February 14-week low point of $1,045 after a two-month-long retreat. But until gold breaks above its December U.S. dollar-denominated all-time high of $1,227 many players in U.S. markets will remain skeptical of the bull market’s staying power.
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