Latest jewelry news updates around the world

1. Gold reaches US$879.40
   Gold hit a new record high of US$879.40 an ounce in electronic trading on the New York Mercantile Exchange Tuesday morning, January 8, beating the previous record of US$875 set in 1980.
   
2. Israel's diamond industry ends 2007 on a high note
   Amidst the changes and challenges faced by the world's diamond industry, including weakness in the US market, Israel's diamond trade figures for 2007 showed a substantial rise in all areas, making 2007 its best year ever.
   
3. India delays gold jewellery hallmarking law
   India has postponed implementation of a new law on hallmarking of gold jewellery to certify their purity due largely to trade concerns that it would disrupt the world's largest gold market.
   
4. Hong Kong jewellery sales up 15 percent
   A vibrant Hong Kong economy and robust tourism industry pushed the city's sales of jewellery, watches and clocks, and valuable gifts to rise by almost 15 percent by volume in November compared to November 2006. By value, the growth was almost 29 percent.
   
5. First diamond training institute established in Ghana
   In Ghana's bid to further grow its diamond industry, it recently opened its first ever diamond- training institute in Accra. The Diamond Technology Training Institute will provide courses to locals on cutting and polishing diamonds, as well as on separating, assorting and grading the stones.