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A Surging Rupee Tripled Gold’s Global Loss in India as Silver Broke Down
Macro Snapshot: The Reserve Bank of India changed the domestic arithmetic before trading opened on 12 October. On 10 October it announced a special window to meet the entire daily dollar requirement of Indian Oil, Bharat Petroleum and Hindustan Petroleum directly from its reserves, taking a large block of import demand out of the spot market. The central bank also tightened rupee derivative rules, imposing a 20% Foreign Exchange Risk Reserve on eligible contracts above $2 million and barring the
A Surging Rupee Tripled Gold’s Global Loss in India as Silver Broke Down
Macro Snapshot: The Reserve Bank of India changed the domestic arithmetic before trading opened on 12 October. On 10 October it announced a special window to meet the entire daily dollar requirement of Indian Oil, Bharat Petroleum and Hindustan Petroleum directly from its reserves, taking a large block of import demand out of the spot market. The central bank also tightened rupee derivative rules, imposing a 20% Foreign Exchange Risk Reserve on eligible contracts above $2 million and barring the
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Gem-A Announce Conference 2015 Sponsors
London: The Gemmological Association of Great Britain (Gem-A) has announced the full list of Sponsors for its upcoming Conference 2015 incorporating the Federation for European Education in Gemmology’s (FEEG) 18th International Symposium of Gemmology, held at the Royal Institute of British Architects (RIBA) in Marylebone, London, from 21 – 22 November 2015. Welcoming speakers from around the globe, the Gem-A
Assocham Demands Industry Status for G&J Sector
New Delhi: The government should give industry status to the Gems and Jewellery (G&J) sector to give it the much needed boost as the sector has great potential to create new jobs and contribute to the economy through exports, industry body Assocham said on Tuesday. While releasing the study on Tuesday, Assocham’s National General Secretary D S Rawat said the
India Govt Fixes Interest Rate on GMS
Mumbai: Entities participating in Gold Monetization Scheme can earn up to 2.50 percent interest rate on their idle gold. Interest rate on Medium and Long Term Government Deposit (MLTGD) are 2.25 percent and 2.20 percent, respectively, according to a notification issued by the Reserve Bank of India (RBI) Tuesday. The tenor of medium term would be between 5-7 years while
Strong Demand for Blue Fancy Diamonds in Q3
Tel Aviv: As the diamond industry gears up for its hot selling holiday season, fancy color diamond prices are holding steady. According to the Fancy Color Diamond Index, prices of these diamonds remained stable during the third quarter of 2015, at a time when white diamond prices showed declines of 6 V 10%. The best performing fancy color diamonds were
GJEPC Welcomes India’s Role as KP Chair
Mumbai: The Gem & Jewellery Export Promotion Council (GJEPC), the nodal agency for the Kimberley Process (KP) in India, welcomes India’s election as Chair of the Kimberley Process Certification Scheme (KPCS) for 2026. The Kimberley Process Certification Scheme, a UN-mandated initiative, is the only global mechanism governing international trade in rough diamonds, aimed at preventing conflict diamonds from entering legitimate
India New Zealand FTA to Benefit G&J Industry
Mumbai: India and New Zealand recently concluded a Free Trade Agreement (FTA) that offers significant duty-free access for Indian exports, but Gems & Jewellery (G&J) are listed among the sensitive sectors excluded from immediate zero-duty benefits under the FTA, with India protecting these products, alongside dairy, sugar, and metals, from immediate tariff cuts, though the overall deal aims to boost labour-intensive exports like textiles,
India’s G&J Exports Recover During April-Nov 2025
Mumbai: India’s gem and jewellery (G&J) exports showed clear signs of stabilization and recovery during April-November 2025, supported by improving global demand conditions and strong performance across diversified international markets. Total exports for the period rose marginally by 0.07% year-on-year to $18.87 billion, compared to $18.85 billion in the corresponding period last year, underscoring the sector’s resilience amid a challenging
How Many Years will the Diamonds Reserves Last?
Mumbai: Global economically viable diamond reserves are estimated at about 1.8 billion carats. At the current annual production level of roughly 90 million carats, these reserves are expected to sustain the market for around 20 years. The estimate was shared by Sergey Takhiev, Head of Corporate Finance and Investor Relations at Alrosa. More than half of the world’s diamond reserves
