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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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0% U.S. Import Tariff for EU-Polished Diamonds
Antwerp: Thanks to intensive negotiations, the Antwerp World Diamond Centre (AWDC), the umbrella organization for the Antwerp diamond industry, has succeeded in securing a zero percent import tariff for natural polished diamonds under the trade agreement between the European Commission and the United States. This exemption is part of a U.S. executive order, effective retroactively as of Monday, September 1,
GSI Launches State-of-Art Lab in Kolkata
Kolkata: Gemological Science International (GSI) proudly announced the official launch of its laboratory in Kolkata, marking a significant milestone in the company’s commitment to providing world-class gemological services to one of the leading jewellery manufacturing hubs of India. The event, which was attended by prominent industry leaders and luminaries, received an overwhelming outpouring of support and enthusiasm, further solidifying GSI’s
GJEPC Announces Newly Elected CoA for 2025
Mumbai: The Gem & Jewellery Export Promotion Council (GJEPC), the apex body of the gem and jewellery trade in India, has announced the results of its recent Committee of Administration (CoA) elections for 2025 for the vacant positions. Welcoming the new members, Mr. Kirit Bhansali, Chairman, GJEPC, said, “I warmly welcome all the newly elected members of the CoA. Each
Men of Platinum Returns with ‘MS Dhoni Signature Edition’
Mumbai: Platinum Guild International (PGI) India’s Men of Platinum brand returns this festive season with the MS Dhoni Signature Edition — a line of jewellery that speaks to the enduring legacy of a modern icon. Crafted in 95% pure platinum one of the highest standards of purity in precious jewellery, platinum is naturally white, it never fades or tarnishes. Each
Edward Asscher Joins RJC Board
New York: The Responsible Jewellery Council (RJC) has elected World Diamond Council (WDC) president Edward Asscher as one of the new representatives to its board. Asscher will represent the trade association forum on the RJC’s board of directors, the industry standards organization said last week. His appointment was announced along with several others at the RJC’s annual general meeting (AGM)
Natural Diamond Council Forays into UAE
Mumbai: Natural Diamond Council (NDC), a not-for-profit organization dedicated towards increasing transparency and upholding the integrity of the modern natural diamond industry, announced a collaboration with Malabar Gold & Diamonds, Jawhara Jewellery and La Marquise Jewellery – three of the leading jewelers in the United Arab Emirates, to advocate the “Natural Diamond Dream”. Enhancing trust in the natural diamond industry,
GJEPC's 2nd India Global Connect Meet with Malaysia
Mumbai: India’s Gem and Jewellery Export Promotion Council (GJEPC) organised the 2nd India Global Connect meet with Malaysia on 2nd June, a follow up of the 14th Feb meet this year. The meeting touched upon ways to strengthen the gem and jewellery trade between the two countries. The forum was attended by H.E. Mr. B.N. Reddy, High Commissioner of India
Rio Tinto Launches Icon Partner Program
Perth: Rio Tinto has launched the new Icon Partner program, as part of its strategy for the future development of the Argyle Pink Diamonds brand. Following the November 2020 closure of the Argyle mine in Western Australia, Rio Tinto has retained and managed the Argyle Pink Diamonds brand and has been working with its exclusive distribution network to ensure it
