We Wish to Build Globally Relevant SKY Gold: Akash Talesara
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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
Alrosa to cut rough Prices by 8 to 10%
Moscow: Russian diamond miner ALROSA will lower rough diamond prices at its September trading session by 8% to 10%, Russian news agency Interfax reported Sept. 15, citing two unnamed sources involved in diamond trading. The company took the decision to reduce prices Sept. 14, according to the news wire. “Preliminarily, the drop is 10%, in the framework of the market
UAE to Become Chair of KP In 2016
Dubai: Dubai Multi Commodity Centre (DMCC), one of the world’s leading commodity hubs and the UAE Ministry of Economy’s authority for the Kimberley Process Certification Scheme (KP), welcomed the selection of the UAE as the Vice-Chair of the KP in 2015. The appointment was recently confirmed through a voting process involving all KP Participants. The UAE will assume the role
Gujarat Hira Bourse Denotified as SEZ
Surat: The Gujarat Hira Bourse (GHB) project in Surat has been denotified as a Special Economic Zone, according to a decision taken by the Ministry of Commerce, Government of India recently, reports gjepc.org. The notification from the ministry, signed by Dr. Guruprasad Mohapatra, Jt Secy, Department of Commerce, has rescinded an earlier government order of 2007 under which the bulk
Gemfields Acquires 2 Emerald Projects in Colombia
Mumbai: Gemfields plc (AIM: GEM), the world’s largest producer of coloured gemstones, has entered into binding agreements to acquire controlling interests in two emerald projects with operations and prospects located predominantly in the Boyacá state in Colombia. Highlights Project 1: Coscuez Emerald Mine, Boyacá Department, Colombia Conditional acquisition of a 70% interest in a Colombian company which will, on completion,
IIBX & GJEPC Facilitate First-Ever Duty-Free Gold Import
Mumbai: The India International Bullion Exchange (IIBX), in collaboration with the Gem & Jewellery Export Promotion Council (GJEPC), has achieved a major milestone by facilitating the country’s first-ever duty-free import of gold under the Directorate General of Foreign Trade’s (DGFT) Advance Authorisation Scheme. This breakthrough marks a new chapter in India’s bullion market, aligning with the government’s vision to streamline
Kirit Bhansali Attends India-UK CEOs Forum
Mumbai: The Gem & Jewellery Export Promotion Council (GJEPC) Chairman Mr. Kirit Bhansali was privileged to represent the gem and jewellery sector as part of the distinguished delegation accompanying Hon’ble Prime Minister Mr. Narendra Modi during his discussions with UK Prime Minister Sir Keir Starmer at the India-UK CEOs Forum . This high-level trade mission underscores the strong commitment of
Feriel Zerouki to Leave De Beers Group
London: De Beers Group today announced that Feriel Zerouki, Chief Trade and Industry Officer and member of the Executive Committee, has decided to leave the company at the end of October 2025. Feriel joined De Beers in 2005 and has played a central role in shaping the company’s leadership in ethics, provenance and industry integrity. She led the launch of
NITI Aayog Partners with GJEPC to Boost Exports
Mumbai: India’s gems and jewellery industry got a significant boost on 7th October 2025, when NITI Aayog and GJEPC brought together key stakeholders to discuss the sector’s future competitiveness and export potential. The hybrid event, hosted at the Bharat Diamond Bourse (BDB) with several participants joining virtually, featured Mr. Sanjeet Singh, Senior Advisor, NITI Aayog, joined by Mr. Kirit Bhansali,
