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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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Antwerp to Mark 30 Years of Ties with Shanghai
Antwerp: Antwerp’s two major export industries, diamonds and designer wear, are joining forces to celebrate the 30th anniversary of the ties between the city and Shanghai. The Antwerp World Diamond Centre (AWDC) and BVBA 32, the financial force behind fashion designers Ann Demeulemeester, Haider Ackermann and Jean-Paul Lespagnard, will be organizing an exclusive diamond evening with a fashion show in
Diamond Circle Launches First Bitcoin ATM
Brisbane: Bitcoin ATM maker Diamond Circle has installed its first kiosk at a cafe in Queensland, Australia. The new unit is located at the Bluff Cafe at Burleigh Heights, by the Gold Coast’s Surfers Paradise. The company describes its machine, unveiled earlier this year, as the first “cashless bitcoin ATM” kiosk to hit the market. The Diamond Circle ATM works
Gold Smuggling into India Hits New Record Highs
Mumbai: Customs officials at India’s main airports are failing to curb the increasing number of gold smuggling cases, as about 50 tonnes of the precious metal reportedly made it into the country only in the past 10 days. According to a report in the Hindustan Times earlier this week, the peak is tied to the seasonal increased demand related to
India’s Two Biggest Diamonds to Be Auctioned
Bhopal: National Mineral Development Corporation (NMDC) of India may take two of its biggest ever diamonds, produced from Panna mines in Madhya Pradesh, for auction in Belgium after having failed to get potential buyers despite repeated attempts, reports The Times of India. Last auction was held in Panna district, which concluded on Wednesday. Panna diamonds – a 37.68 carat and
Sparkle ’23 Ended Successfully
Surat: The Sparkle International Gems and Jewellery Exhibition-2023, organized by Southern Gujarat Chamber of Commerce and Industry (SGCCI) and South Gujarat Chamber Trade and Industry Development Center at Pandit Deendayal Upadhyaya Indoor Stadium in Athwa lines, Surat on 25, 26 and 27th August, concluded with a great success note. The three-day exhibition showcased both traditional and innovative jewellery designs. The
SKY in Men of Platinum’s Latest Campaign
Mumbai: Platinum Guild International (PGI) India’s Men of Platinum introduces a new chapter of their extraordinary narrative. Capturing the essence of a true man of character, the brand welcomes leading cricketer “SKY”-Suryakumar Yadav into their fold. Selected as the face of their latest campaign, Suryakumar’s journey mirrors the enduring rare qualities that platinum stands for. Six captivating digital films, a television rendition, print &
RSBL Receives ‘Best Gold Bullion Dealer’ of the Year Award
Mumbai: RiddiSiddhi Bullions Limited (RSBL) recently announced that they had won the “Best Gold Bullion Dealer for the Year 2022-23” award at the renowned India Gold Conference, which was held at JW Marriott, Kolkata, India on 18-20 Aug 2023. RSBL is an Indian global conglomerate embracing multiple industries and operating profitable businesses founded on innovation, customer trust, and value creation for
‘Navratan’ Exhibition at G20 TIMM Inaugurated
Jaipur: India’s Minister of Commerce & Industry Mr. Piyush Goyal, and Mr. Olivier Becht, Minister Delegate for Foreign Trade, Economic Attractiveness and French Nationals Abroad, Government of France, who are currently attending the G20 Trade and Investment working group meetings (TIMM) in Jaipur, inaugurated the “NAVARATAN” exhibition, which is held on the sidelines of the G20 TIMM at the Chandra
