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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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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
IGI Announces Mobile App, Jaipur Lab
Mumbai: The International Gemological Institute (IGI) launched its new consumer mobile application for Android/iOS titled “my Diamond my Jewelry” at the India International Jewellery Show (IIJS) in addition to offering a live grading lab. During the show, IGI also detailed the opening of its next grading laboratory and education institute in Jaipur that will cater to the Rajasthan and North
AWDC Participates in the Mine Entra Fair
Antwerp: The Antwerp World Diamond Centre (AWDC), the world leader in diamond trade, participates in the Mine Entra exhibition in Zimbabwe for the first time. “Now that the European sanctions are lifted, the way is open for intensive collaboration between Zimbabwe and the main commercial center for diamonds,” said Ari Epstein, CEO of the Antwerp World Diamond Centre. 84% of
Pangolin Recovers White Macro-Diamond
Gaborone: Pangolin Diamonds has recovered a white macro-diamond weighing 0.005484 carats from a soil sample on its recently acquired Malatswae project prospecting licence PL247/2014, in Botswana. It said in a statement that a field team was now on site collecting follow-up samples on a close-spaced grid to help determine the significance of this discovery. The Malatswae kimberlite project was located
Positive Trajectory for all Fancy Color Diamonds
New York: Blue and pink diamonds outperformed yellows in terms of price during the second quarter, according to the latest Fancy Color Diamond Index (FCDI) from the Fancy Color Research Foundation (FCRF). The index, which is based on pricing details collected for blue, pink, and yellow diamonds traded in Hong Kong, New York, and Tel Aviv, reveals a 0.3 per cent uptick
Industry Leaders Meet Union Minister over Hallmarking
New Delhi: A delegation team led by UP Sarafa Association along with GJC met Union Minister Mr. Rajnath Singh (also senior BJP leader and member of Parliament from Lucknow) on the mandatory hallmarking issue. Mr. Singh patiently heard the concerns and issues highlighted on mandatory hallmarking for jewellery by the delegation. He then called Hon. Union Minister Mr. Piyush Goyal and advised him to
IIJS PREMIERE Officially Launched in Bangalore
Mumbai: The 37th edition of India International Jewellery Show (IIJS) Premiere was officially launched in Bengaluru by the Gem & Jewellery Export Promotion Council (GJEPC) amidst leading jewellers and trade associations at Ritz Carlton on 29th July. IJS Premiere 2021 is Asia’s one of the leading Gem & Jewellery trade Exhibition organised in Mumbai each year. With Covid 19 restrictions, the show will be organised at the Bangalore International Exhibition
India's Gold Demand up by 19% in Q2
Mumbai: Demand for gold in India during the April-June period increased 19.2 per cent to 76.1 tonne, compared to the same quarter of 2021, according to a report by the World Gold Council (WGC). In April-June 2021, demand stood at 63.8 tonne. “Demand for gold in India for Q2 2021 was at 76.1 tonne, increase by 19.2 per cent as
