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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
3 Carat Synthetic Largest-Ever Grown Gem
New York: Pure Grown, the man-made diamond company formerly known as Gemesis, is selling a 3 ct. K SI stone—which it calls the largest colorless diamond ever produced by nonnatural means, reports jckonline. Lisa Bissell, the Fabrikant veteran recently appointed president and CEO of the company, says that she has every intention of selling the gem, which has a report
Zimbabwe Imposes Embargo on Rough Export
Harare: The Zimbabwean government has reportedly banned the export of rough diamonds to ensure the country realises maximum value for its gems. NewsDay quoted Mines and Mining Development minister Walter Chidhakwa as saying that the issue was extensively discussed and Cabinet agreed and directed that “we implement the new institutional programme”. He said Harare had recognized that it was “not
GJF Launches Monthly ‘G&J Times’
Mumbai: The All India Gems and Jewellery Trade Federation (GJF), the national trade federation for the promotion and growth of trade in Gems and Jewellery (G&J) Industry across India, hosted an exciting 6th edition of its signature GJF NITE 2014 in Mumbai. The fun filled, entertaining and musical fashion extravaganza event, presented by R. M. Jewellery and powered by CVM,
India to Continue Gold Import Curbs
New Delhi: Curbs on gold import are likely to remain in place with Finance Minister Arun Jaitley today saying the government is inclined to continue with this measure along with other steps taken by the previous UPA regime for controlling the widening CAD as they have worked. “Each step is being continued…efforts are being made to continue each of these
CIBJO Releases Technology Special Report
Milan: With fewer than four weeks to go to the opening of the 2021 CIBJO Congress on November 1, 2021, the fifth of this year’s CIBJO Special Reports has been released. Prepared by the CIBJO’s new Technology Committee, headed by Stephane Fischler, the report focuses on disruptive technological breakthroughs in the jewellery and gemstone industry and trade, for which in
Ahmed Bin Sulayem is Ambassador for WDC’s Initiative
Dubai: DMCC announced that its Executive Chairman and Chief Executive Officer, Ahmed Bin Sulayem, and its Special Advisor – Precious Stones, Dr. Martin Leake, have been appointed as ambassadors of the World Diamond Council’s (WDC) updated System of Warranties (SoW) initiative following its launch in September 2021. The SoW applies every time a rough or polished diamond changes hands, whether
India's G&J Sector has Huge Potential in Hong Kong
Mumbai: India’s Gem and Jewellery Export Promotion Council (GJEPC) hosted the 10th edition of India Global Connect, a business networking meet, with Hong Kong on 30th September 2021. India’s gem and jewellery exports to Hong Kong accounts for a third of India’s total gem and jewellery exports. However, India has penetrated only 12% of the HK Market. The meet provided
Lifetime Achievement Award for Stephen Lussier
New York: Jewelers of America (JA), the national trade association for businesses serving the fine jewelry marketplace, and the GEM Awards Committee announced that Stephen Lussier of De Beers, will be the recipient of the GEM Award for Lifetime Achievement at the 20th annual GEM Awards taking place on Friday, January 14, 2022, at Cipriani 42nd Street in New York
