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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
Gemfields Boosts Emerald, Ruby Output
Lusaka: Gemfields said its 75 percent-owned Kagem Mining subsidiary, in Zambia, produced 5.8-million carats of emerald and beryl during the second quarter of the 2015 financial year, up from 3.9-million carats produced in the December 2013 quarter. The company’s 75 percent-owned Montepuez Ruby Mining subsidiary, in Mozambique, also produced 3.4-million carats of ruby and corundum during the quarter under consideration,
GJF Launches Unique Jewellers Identity Card
Mumbai: All India Gems and Jewellery Trade Federation (GJF), the national nodal and the largest single trade body in India for the promotion and growth of trade in gems and jewellery across India, has introduced a first-of-its-kind Jewellers Identity Card (JID), a unique and smart identity card establishing the credential and legitimate business undertaking of its member jewelers and their
London Diamond Bourse to Host Open Day
London: The London Diamond Bourse (LDB) in the capital’s Hatton Garden area, has set a date for its inaugural open day, taking place on Monday, February 23. In a statement, the bourse said: “The open day will provide a great opportunity for visitors to discover new suppliers, network or simply to see what the LDB has to offer the industry.
5 Carat Synthetic Diamond Produced
Moscow: Russian lab-grown diamond manufacturer New Diamond Technology says it has grown a 5.11 ct. K SI diamond, which it bills as the largest man-made polished near-colorless stone ever produced. The manufacturer says the unenhanced radiant-cut type IIa diamond, produced by the high-pressure high-temperature (HPHT) method, bears a K SI grade but it has not yet been sent to a
BDB Holds Condolence Meet in Memory of Kavinbahi Chimanlal Parikh
Mumbai: Bharat Diamond Bourse (BDB) held a solemn and heartfelt condolence meet to pay tribute to its esteemed founding member, Shri Kavinbhai Chimanlal Parikh, who passed away recently. The gathering, attended by prominent members of the diamond trade, industry veterans, and BDB office-bearers, reflected on Shri Parikh’s extraordinary contributions to the Indian diamond industry and his pivotal role in the
MMTC-PAMP Unveils Laddoo Gopal Silver Bar
Mumbai: MMTC-PAMP, India’s only London Bullion Market Association (LBMA) accredited Good Delivery gold & silver refiner is proud to announce the launch of the Laddoo Gopal 50 grams 99.99%+ purity Silver Bar. This exquisite silver bar pays tribute to Lord Krishna, showcasing an image of the childlike innocence and divinity through intricate designs and fine Swiss craftsmanship. Laddoo Gopal is
Seminar on AI-Based Diamond Paternity Testing
Mumbai: The Diamond Exporters’ Association Limited (DEAL), in collaboration with the Bharat Diamond Bourse (BDB), organized an insightful seminar on Artificial Intelligence-Based Diamond Paternity Testing at the BDB Convention Hall, Bandra Kurla Complex, Mumbai. As artificial intelligence continues to transform industries globally, its application in the diamond sector has become increasingly significant. The seminar addressed the vital role AI now
Jewellers Hopeful for Good Demand in Akshay Tritiya
Mumbai: Gold prices have proceeded to touch Rs. 1 lakh per 10 gram at the retail level recently and is likely to hurt consumer sentiment ahead of Akshaya Tritiya, a heavy purchase day for gold. The price of gold without the Goods & Services Tax (GST) was trading at Rs 97,200 per 10 gm. The jewellery trade is hopeful that
