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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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IDMA Concerned about Over-grading Diamonds
Antwerp: Maxim Shkadov, President of the International Diamond Manufacturers Association (IDMA) said in an appeal distributed by IDMA that his organization expressed grave concern following the article published by Rapaport on over-grading of polished diamonds. In his article, “Honest Grading” posted last month and emailed to more than 77,000 diamond industry stakeholders, Martin Rapaport disclosed the over-grading of at least
EGL USA Stresses No Connection to Other EGL Labs
New York: EGL USA has responded to recent announcements of the closure of EGL International and the reorganization of the international EGL (European Gemological Laboratory) network by stressing that it does not have any connection with the bodies, reports IDEX Online. Yaakov Tversky, director of EGL USA, said, “Recently, EGL’s overseas laboratories announced plans to close and/or reorganize. This is
DSF 20th Anniversary to be Memorable
Dubai: The World Diamond Mark Foundation (WDMF), the Dubai Gold and Jewellery Group (DGJG) and the Dubai Events and Promotions Establishment (DEPE), an Agency of the Government of Dubai, have joined hands to make the 20th anniversary of the annual Dubai Shopping Festival, Dubai’s leading consumer shopping experience, a truly memorable event. In 2015, for the first time in its
Hallmarks Still Voluntary in India
New Delhi: The Bureau of Indian Standards Act (BIS Act, 1986) will enable hallmarking of precious metals and jewellery including gold by providing ‘legal recognition’ through amending the Act. On making the process mandatory, the Government will only take a call after further assessment of consumer needs by the Ministry of Consumer Affairs. The BIS, which will now be positioned
Chetan Mehta Explores Kirit Bhansali’s Personality
Bengaluru: The latest edition of Coffee with Dr. Chetan Kumar Mehta featured an engaging conversation between Dr. Chetan Mehta, President of the Jewellers Association Bangalore, and Mr. Kirit Bhansali, Chairman of the Gem & Jewellery Export Promotion Council (GJEPC). Held during the IIJS Tritiya event, the discussion delved into Mr. Bhansali’s inspiring journey, his vision for the jewellery industry, and
GJEPC Felicitates IIJS Icons 2025
Bengaluru: Tritiya 2025 honoured a distinguished group of industry pioneers and visionaries who have significantly contributed to the growth and excellence of the jewellery sector. These IIJS Iconsrepresent the epitome of innovation, craftsmanship, and dedication, having built legacies that continueto inspire and shape the future of the industry. This year, we celebrate their remarkable achievementswhich have earned them a place
Dhoni’s Unbreakable Legacy with Men of Platinum
Mumbai: As the IPL season kicks off, cricket fever reaches its peak and Thala gears up to don the yellow jersey once again, igniting passion in fans across the country. For every MS Dhoni loyalist, it’s more than just a game—it’s an unbreakable bond, built on faith, resilience, and moments that live forever. This season, honour the legend and wear
Concern about Irradiated Rubies and Sapphires
Milan: The World Jewellery Confederation (CIBJO), the American Gem Trade Association (AGTA) and the International Colored Gemstone Association (ICA) are once again expressing concern about the presence in the marketplace of irradiated rubies and sapphires, particularly sourced in Sri Lanka. The materials in question, which have a pleasing but temporary appearance, were earlier reported upon in a 2022 press release
