Gold prices are increasing at rocket speed in India. There is no stop to the on-going increase in gold rates. Gold prices on Tuesday zoomed Rs.360 to a record high of Rs15,200 per 10 grams in Indian Bullion Market due to the impact of the downturn of global market and falling of Indian Rupee.

The yellow metal was always in demand and it increased its popularity as the investors at the international markets kept buying gold amid worsening global economic outlook, said Ranjan Mukherjee of Kolkata-based Shipra Gold.

Gold prices increased at a rate of 30 percent in the past three months. The gold at Multi Commodity Exchange of India Ltd (MCX) was traded at around Rs15,200/10 grams for the month of April,the highest since the bourse began trading the metal in November 2003.

According to a report from the Bombay Bullion Association, the apex gold trade body in the country, the India’s gold import in February was zero and Imports in January slumped to about two tonnes from 24 tonnes a year ago, the association said.
Ranjan Mukherjee blamed the weak economy, high prices and the weak rupee for the downfall in the imports.

The new chief executive officer for De Beers Diamond Jewellers U.S. is Hamida Belkadi. The position was filled by Hamida which was vacant since 2007; the news was released by the company on Friday.

Hamida will be the new CEO effective immediately. De Beers has not had an official CEO for its U.S. operations since the departure of former CEO Alyce Alston at the end of March 2007.

Belkadi was a part of De Beers since 2005. She worked as vice president of sales and marketing and helped in establishing its U.S. operations. This was also the year De Beers opened retail stores in the United States, operating them through a partnership with LVMH Moet Hennessy Louis Vuitton.

Following a short stint as acting CEO in 2007 after the departure of Alston, Belkadi was promoted to chief operating officer in July 2007, heading De Beers' U.S. operations.

Belkadi carries lots of experience in jewelry retailing. She had a past experience of around 18 years with Cartier where she held various senior positions.

The new President for California Jewelers Association (CJA) is being elected. The association has elected Teresa Saldivar, of Teresa's Jewelers in Santa Ana, as president for 2009.
 
She succeeds Lexi Kern Hirst, of Churchill Jewelers in Santa Barbara.
Stuart Benjamin, of Stuart Benjamin and Co. Jewelry Designs, San Diego as president-elect; James Orloff, of Orloff Jewelers, Fresno as first vice president; David Hayman, of David Hayman Jewellers, Yorba Linda as second vice president; and Allen Kessler, of Kessler Jewelers, Burbank, treasurer are among the other officers selected.

Rossana Aguilar, CJA Executive Director and CEO said, “We are pleased to announce that Teresa Saldivar of Teresa's Jewelers in Santa Ana has been elected as President of the California Jewelers Association in 2009. She is the first Latina to serve in this capacity and only the fourth woman in the CJA's 76-year history to serve as president of this prestigious association."  Rossana stated this in a media release.
"Our goal this year will be to provide even more cost-saving member benefits to our membership in order to help them run their businesses more efficiently,". Teresa Saldivar said to the media.
 
Saldivar comes from a good jewelry experience. She was a two-term president of the Downtown Santa Ana Business Association and is an active leader in numerous civic and philanthropic organizations in Orange County. She joined the CJA's board of directors in 1997 and was elected as an officer of the CJA in 2006. She also heads one of the leading jewelry stores in Santa Ana.
 
The CJA is a 1200 member association which is affiliated to Jewelers of America (JA), the national trade association for retail jewelers. The CJA and JA cater high ethical standards, promote professional business and leadership skills, and offers education, certification, marketing and cost-saving programs to the members so that they can increase their standards and profits.

The Jewelers Mutual Insurance Co. and American Gem Society (AGS) have announced a long-term partnership that is the first of its kind for both the organizations.

An exclusive insurance endorsement from the AGS is provided in the partnership to the Jewelers Mutual.Jewelers Mutual, in turn, will serve as presenting sponsor of the AGS Conclave, the premier educational event for the jewelry industry.The sponsorship ensures ongoing support for the event beginning with the 2009 Conclave, to be conducted in Chicago from April 1-4.

AGS members too gets lots of oppurtunities through this partnership.Society members can order Jewelers Mutual supplies for free, and with no shipping fees, to make the company's Personal Jewelry Insurance program available to their customers.Member retail jewelers,even those not yet insured through Jewelers Mutual can take JM University courses at no cost.

Patti Geolat, Jewelers Mutual board chair, interim president and CEO, said in a media release that "Jewelers Mutual is so excited about this opportunity to partner with such an important industry association that shares our mission and values.This is a unique arrangement for both of our organizations, and we look forward to aligning our efforts to continue providing superior service to the jewelry industry."

A press conference is being held at the AGTA GemFair in Tucson, Ariz. The press conference will be held at the AGS booth, No. 17, on Feb. 6 at 12:00 p.m.

For more information, contact the AGS' Ruth Batson at rbatson@ags.orgor (866) 805-6500 ext. 1007, or Jewelers Mutual's Patrick Drummond at pdrummon@jminsure.com or (800) 558-6411.

Obama's Watch

The First Lady Michelle Obama is the new style icon for the fashion industry and it has already created news, but now its time for the leader himself. What does the most powerful man in the world wears on his hand. Its time for the watch industry to eye the timepieces that Obama and his second in command puts on every morning.

While a formal dress code was established by the former President Bush who required his staffers to wear business suits while on the clock. President Barack Obama is already making news for cultivating a less-formal, rolled-up shirtsleeves environment at the White House.But Obama's latest choice of timepiece is not just formal, it's government-issued, with a Secret Service seal on it.

Back in 2007, when Obama was still a U.S. senator, Secret Service agents gave him the black-dial chronograph watch as a gift for his 46th birthday.He subsequently wore same watch for the inauguration and for the signing of his first act as president.The gift came from the Secret Service employees' store at the agency's headquarters in Washington, D.C., according to a report in The Times of London.

Seeing the Obama's popularity the manufacturers "Jorg Gray" has come up with the Obama watch--without the Secret Service shield.Though the Secret Service employees store is not open to the public the watch can be purchased from the manufacturer, Jorg Gray. It is called the JGC6500 Chronograph and its retail prices for $325, the paper said.

Obama wore a TAG Heuer Series 1500 Two-Tone Diver's Watch.The news was conformed by TAG Heuer as recently as 2007.

Recently in a press release, Omega has laid claim to having Vice President Joe Biden as a fan. The new second-in-command leader "completes his stately look with a classic Omega timepiece." Specifically, Biden wears a stainless steel Omega Seamaster 300m timepiece, which features a precision quartz movement and is water resistant down to 1,000 feet. The suggested retail on the watch is $2,080.