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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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Rio Tinto Launches its Final Beyond Rare Tender
Mumbai: Rio Tinto has launched its final Beyond Rare TM Tender, the third in its annual Art Series, featuring 52 lots of extraordinarily rare masterpieces of nature, from its Canadian and Australian diamond mines. Titled Into the Light, this unique event marks a special chapter in world diamond history. With Rio Tinto’s Australian Argyle Diamond Mine ceasing operations in November
JGW Hong Kong Honours Sustainability Champions
Hong Kong: The Winners and Finalists of the Sustainability Awards 2025 by JWA (Jewellery World Awards) were celebrated at a Recognition Ceremony hosted last night by the industry’s No.1 jewellery sourcing destination – Jewellery & Gem WORLD Hong Kong (JGW). Powered by Informa Markets Jewellery, the Awards programme recognises exceptional sustainability initiatives within the fine jewellery, gemstone and related sectors.
Diwali Edition of GJS Opens in Mumbai
Mumbai: The India Gem & Jewellery Show (GJS2025) – Diwali Edition officially opened yesterday with a grand inauguration ceremony at the Jio World Convention Centre, Mumbai. The prestigious event was inaugurated by Chief Minister of Maharashtra, Mr. Devendra Fadnavis who attended the #HamaraApnaShow as Chief Guest, marking a proud moment for the Indian gem and jewellery industry. Also graced by
Augmont Receives Promising Gold Bullion Refiner Award
Mumbai: Augmont Enterprises Ltd., one of India’s established gold platforms, has been recognized with the prestigious “Promising Gold Bullion Refiner (All India)” award at the India Gold Conference (IGC) 2025. This recognition reflects the company’s role in contributing to the evolving bullion industry. At the conference, Mr. Ketan Kothari, Director at Augmont, was presented with the IGC Excellence Award 2025:
KP "Must Suspend Russia & Redefine Conflict Diamonds"
Johannesburg: The Kimberley Process (KP) must “stop turning blind eye to Russia’s invasion of Ukraine and take fight against conflict diamonds seriously”. KP Civil Society Coalition (KPCSC), the umbrella organization that oversees its activities, issued a strongly-worded statement on Tuesday, accusing the KP of being “no longer fit for purpose”.An attempt by Western nations to broaden the KP definition of
SGB Series Opens on 20th June
New Delhi: India’s Ministry of Finance on 16 June decided to issue the two tranches of Sovereign Gold Bonds Scheme (SGBs) for 2022-23, it said in an official statement. “The SGBs will be sold through scheduled commercial banks, Stock Holding Corporation of India Limited (SHCIL), Clearing Corporation of India Limited (CCIL), designated post offices, and recognised stock exchanges viz., National
Doug Hucker Appointed as New CEO of ICA
New York: The International Colored Gemstone Association (ICA) has appointed industry veteran Doug Hucker as CEO, to succeed Gary Roskin. Hucker was the CEO of the American Gem Trade Association (AGTA) for the past 24 years, before leaving in March. He has also served on the boards of a number of industry associations, including the American Gem Society (AGS), the
Govt. Sets G&J Export Target of $45.7 Bln. for '22-23
Mumbai: The Indian Government’s Department of Commerce has set a gem & jewellery export (G&J export) target of USD 45.7 billion for the year 2022-23. This follows the industry’s stellar contribution of nearly 10% to the country’s overall exports of USD 400 billion last year. The top gem and jewellery export targets set for key countries in 2022-23 are: USA
