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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
The Tariff is Illegal: US Supreme Court
Washington: US trading partners, including India, that have reached tariff deals with Donald Trump’s administration before the Supreme Court verdict, will now face a 10 per cent duty, despite higher levels they may have agreed on previously, the White House has said. The certification came after the US Supreme Court struck down Trump’s sweeping and often arbitrary duties, delivering a
PNG Jewellers Receives IAGES Accreditation
Mumbai: India’s gold industry is set to achieve the highest standards of ethical and responsible business practises followed, as more gold entities receive their Indian Association for Gold Excellence and Standards (IAGES) accreditation. Joining the fast-growing pan India network of verified gold retailers is the leading legacy brand PNG Jewellers (PN Gadgil Jewellers Ltd) that has received its IAGES accreditation.
De Beers Unveiled “Voyage Through the Diamond Realm”
New Delhi: De Beers unveiled “Voyage Through the Diamond Realm,” at India Art Fair 2026. The immersive installation invites audiences to explore the mythical origins of diamonds. Through visual storytelling, scenography and soundscapes, the installation reveals the living heritage of diamonds, their cosmic and earthly journeys across time. Positioned at the intersection of art, nature and human expression, the experience
BDB Launches its Official E-Newsletter
Mumbai: Mr. Bhushan Gagrani, IAS, Commissioner of the Brihanmumbai Municipal Corporation yesterday launched the first edition of ‘BDB e-News’, the official e-newsletter of Bharat Diamond Bourse (BDB). The newly launched news platform is part of a planned strategic upgrade in BDB’s use of digital communications to boost dissemination of information and stakeholder engagement. The launch took place at a special
