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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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ALROSA Raised $1.13M during Diamond week
Moscow: ALROSA raked in $1.13 million during its Diamond auction week in Yakutia, said Catherine Kormilitsyna, the head of the Ministry of Enterprise and Tourism of Yakutia. “ALROSA Diamond Company sold a total of 25 lots worth $1.13 million during the Diamond week. By the way, this year’s auction earned the company less than the previous year. In 2014, ALROSA
KGK Opens Diamond Mfrg. Factory in Botswana
Gaborone: KGK Group last week opened a cutting and polishing factory in Gaborone, Botswana. The new factory is 1000 sq. meter facility, which incorporates the latest diamond cutting technologies and has a staff complement of 55 Batswana and 35 expatriates. KGK Group plans to cut and polish diamonds worth an average $1.5 million every year. The opening of the new
India's Interest in Diamond Ex'ge at Vladivostok
Vladivostok: The first Eastern Economic Forum (EEF) held in the Russian Far East has resulted in the signing of agreements worth a total of 1.3 trillion rubles (about $18.9 billion). Mr. Vipul Shah, Chairman of India’s Gem and Jewellery Export Promotion Council (GJEPC), in a chat with Sputnik, stated that India is one of the largest polishers of diamonds, while Russia
Hope Spinel for Sale for First Time Since 1917
London: The “Hope Spinel,” once owned by famed gem collector Henry Philip Hope and part of the same collection as the famed Hope Diamond, is being offered for sale for the first time since 1917. Set in a 19th century silver and gold brooch, the 50.13 carats octagonal-cut stone is the size of a small plum. Auction house Bonhams is
Russia to Levy 8% Duty on Rough from Sep.
Moscow: The Russian government has announced that it will impose an 8% export duty on rough diamonds weighing between 0.45 carats and 10.8 carats, as well as on special-size diamonds exceeding 10.8 carats, effective September 1, 2026. The new duty will apply to rough diamonds in weight categories that are considered economically viable for domestic cutting and polishing. Russia had
GJEPC Urges Simpler Path to Gold Monetization
Mumbai: India’s gold monetization efforts must focus on simplicity, trust and convenience if the country is to unlock the vast stock of idle household gold, said Khushboo Ranawat, Regional Chairperson – West, and Member – National Exhibitions, GJEPC, during a panel discussion at the ‘India’s Gold Revolution: Monetization, Tokenization & Financial Transformation’ seminar organized by the Bombay Chamber of Commerce &
GJEPC Hosts U.S. Senators, State Lawmakers for Industry Dialogue
Mumbai: Against the backdrop of deepening India-U.S. trade ties, GJEPC hosted a delegation of U.S. senators, state legislators and National Conference of State Legislatures (NCSL) officials at its Mumbai headquarters on 22nd June to provide an overview of India’s gem and jewellery industry and discuss key sectoral trends. The delegation comprised Wayne Harper, President Emeritus and President Pro Tempore, National Conference
Jewellery Crafts Design Competition at IIJS Bharat-Premiere 2026
Mumbai: IIJS Bharat – Premiere 2026 invites you to participate in the “Jewellery Crafts Design Competition”, presented under this year’s Brilliant Bharat – “Music of India” theme. For the 42nd edition of IIJS Bharat – Premiere, exhibitors are encouraged to create jewellery inspired by India’s rich and diverse musical heritage. From classical ragas, folk traditions, devotional music, and regional instruments
