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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
Top News
'Indian Consumers Need Different Strategy'
Mumbai: Diamond retailers will be required to adopt differentiated approaches to realize the significant growth opportunity in India, the world’s third-biggest consumer market for diamonds in which demand has more than trebled over the last decade, according to De Beers. Rising incomes and aspirations could afford the industry an even bigger prize over the next 10 years, the company said
Lab-Grown Diamonds Set to Fill Projected Deficit
Singapore: Technological developments in the production of grown diamonds embody a significant opportunity as researchers predict demand will double in the next ten years, according to a report from Better Diamond Initiative. Advances in the chemical vapor deposition (CVD) technology allow the creation of large synthetic stones of jewellery-quality colour and clarity, said the report published on the Better Diamond
China Gold joins WGC
Beijing: China National Gold Group Corporation (China Gold) has joined the World Gold Council (WGC) as a member, making it the only Chinese gold mining company to join the WGC. According to WGC, China’s gold market has grown exponentially over recent decades and China is now the largest market for gold, in terms of supply and demand. The growth in
GJSCI Launches Digital Learning Platform
New Delhi: The Gem & Jewellery Skill Council of India (GJSCI), under the aegis of National Skill Development Corporation (NSDC) recently launched the new digital learning platform in Delhi, to skill and upskill 1 lakh Jewellery Retail Sales Associates across India by end of 2016. The programme, developed by Tech Partner – Qustn Technologies, was launched by Chief Guest –
Entries Invited for Artisan Awards
Mumbai: India’s Gem & Jewellery Export Promotion Council (GJEPC) has been recognizing and rewarding the best in jewellery design. The Artisan celebrates the highest levels of artistry, innovation and individuality, elevating jewellery designers to their rightful status of artists. The Artisan jewellery Design Awards 2014 invites India’s finest jewellery designers to push their design boundaries and reveal their utmost creativity
GJF Asks Finmin to Rationalize Duty
New Delhi: The All India Gems and Jewellery Trade Federation (GJF) has asked the government to at least double the gap between the import duties on raw gold and finished product to protect domestic manufacturers stressed by various curbs on raw material sourcing from overseas. In a meeting with the finance minister, senior executives of the association demanded the government
2nd Annual Banking Summit Held by GJEPC
Mumbai: India’s Gem & Jewellery Export Promotion Council (GJEPC) organized second annual Diamond, Gem & Jewellery Banking Summit-2014 on Saturday, 28th June 2014 in Mumbai. At the end of the Summit, a Work-Group was formed consisting representatives of India’s diamond sector, Banks and Export Credit Guarantee Corporation (ECGC) to suggest solutions to improve cordial relations among them. Delivering the inaugural
Stéphane Fischler Re-Elected President of AWDC
Antwerp: On Wednesday June 25, during the first meeting of the new Board of Directors of the Antwerp World Diamond Centre (AWDC) the Board members reelected Stéphane Fischler as President of the AWDC. The Board of Directors also appointed Kaushik Mehta as Vice-President, representing the trade, and Freddy Inzlicht as Vice-President representing the Bourses. In 2012, the by-laws of the
