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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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GJEPC Hosts Exporter & GCC Designers’ Workshop
Mumbai: India’s Gem & Jewellery Export Promotion Council (GJEPC) hosted the inaugural session of the Exporter and GCC Designers’ Workshop at the Bharat Ratnam Mega CFC, SEEPZ in Mumbai on 17th July. The event marks a key milestone in the lead-up to SAJEX (Saudi Arabia Jewellery Exposition), GJEPC’s first-ever show in Saudi Arabia, scheduled from 11th to 13th September 2025 at
Registrations Open for JGW Hong Kong
Hong Kong: Buyer pre-registration for Jewellery & Gem WORLD Hong Kong (JGW) – the world’s No. 1 jewellery sourcing destination – is now open, show organiser Informa Markets Jewellery announced today. Trade buyers may pre-register until 7 September to experience six specialised B2B sourcing experiences across two premier locations spread out over seven days. From 15 to 19 September, the
Jewellery Hand Carriage Facilitation Centre Opened at Mumbai Airport
Mumbai: India’s Gem & Jewellery Export Promotion Council (GJEPC), in collaboration with Mumbai Customs, formally inaugurated the Jewellery Hand Carriage Facilitation Centre at Chhatrapati Shivaji Maharaj International Airport (CSMIA), Terminal 2, on 16th July 2025. The facilitation centre was inaugurated by Mr. Surjit Bhujbal, Member Customs, CBIC, in the presence of Mrs. Prachi Saroop, Principal Chief Commissioner, Mr. Alok Jha,
Despite Challenges, Gold is Well Positioned
Mumbai: Gold entered the second half of 2025 following an exceptionally strong performance in the first six months of the year, with prices rising 26%. This surge was driven by a weaker US dollar, ongoing geopolitical tensions, strong investor interest, and sustained central bank buying, according to the World Gold Council’s (WGC) mid-year outlook released on Tuesday, July 15. While
Pigeon Blood Ruby Sold for Record $8.6M
London: The 8.62-carat cushion-shaped ‘Graff Ruby’ ring from the Collection of Dimitri Mavrommatis soared beyond pre-sale estimates and set a world auction record for a ruby at $8,600,410, as well as a record price per carat for a ruby at $997,727. The ring was bought by London Laurence Graff at Sotheby’s Geneva sale of Magnificent & Noble Jewels. The gemstone,
Zimbabwe’s Local Auction Oversubscribed
Harare: First Element, which conducted Zimbabwe’s first local diamond tender in Harare last week, said although the stones that were placed under the hammer were few, there was a strong appetite from foreign buyers. Company managing director Johan Erikson told a diamond conference that was convened last week in Harare that about 400 buyers and 133 companies attended the auction.
Antwerp's Diamond Figures Drop Slightly
Antwerp: The Antwerp diamond sector’s trade figures in October decreased slightly compared to the same month last year. Figures show that slightly fewer polished diamonds were traded, but the value of diamonds traded was higher compared to the value of polished diamonds traded in October last year. Rough diamond trade figures also show a decline compared to October 2013, but
CIBJO Moots Carbon-Free Jewellery Industry
London: CIBJO President Gaetano Cavalieri has held a meeting in London with Lord Deben, Chairman of the Independent Committee on Climate Change in the United Kingdom, during which they discussed CIBJO’s educational programme for a carbon-free jewellery industry, which was outlined at the CIBJO Congress in Moscow in May. A renowned authority on environmental sustainability, Lord Deben also chairs the
