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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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Gaetano Cavalieri Addresses ECOSOC
Milan: CIBJO President Gaetano Cavalieri has addressed the High Level Segment of the UN Economic and Social Council in New York, and in his presentation stressed the commitment of both CIBJO and the international jewellery sector to assisting the United Nations meet its development goals. Dr. Cavalieri was addressing the annual keynote gathering of the UN agency as the head
5th Edition of IIJW Inaugurated in Mumbai
Mumbai: After completion of four successful years, the 5th edition of India International Jewellery Week, popularly known as IIJW, was inaugurated this morning in Mumbai by Mrs. Rashmi Thackeray. Present at the inauguration were Mr. Vipul Shah, Chairman of the Gem & Jewellery Export Promotion Council (GJEPC), Mr. Pankaj Parekh, Vice Chairman of GJEPC and other degnitories. Conceived and conceptualized
HRD Antwerp Adjusting Parameters of Cut Grade
Antwerp: HRD Antwerp is to adjust the proportion parameters of its Cut Grade, with changes taking place as of July 14. The Belgian lab said it is making the move “in order to be more compliant with the market standard, while maintaining the highest-quality grading standards that HRD Antwerp is known for”. “The HRD Antwerp Cut Grade is based on
Gold, Diamond Deposits Traced in Odisha
Bhubaneswar: Geological survey has revealed deposits of a variety of gem stones, gold and diamond in Boudh district in India’s Odisha state, Steel and Mines minister Prafulla Kumar Mallick informed in the State Assembly here on Friday, according to a report published in Odisha Sun Times. Replying to a question by Mahidhara Rana, he said as informed by the Steel
India PM Sets $ 400 bn Target for Export Sector
Mumbai: India’s Prime Minister Mr.Narendra Modi held a virtual interactive meeting with Heads of Export Promotion Councils (EPCs), Chambers of Commerce, and Indian Missions abroad along with stakeholders of the trade and commerce sector of the country on 6th August, 2021. The purpose of the interaction was to provide a focused thrust to leverage and expand India’s merchandise exports to
GJ Sector's CSR Initiatives Touch Thousands of Lives
Mumbai: The Gem & Jewellery Export Promotion Council (GJEPC) has launched the book Jewellers For Hope – With Hearts of Gold, a compilation of corporate social responsibility (CSR) activities undertaken by the gem and jewellery trade in India. It highlights the magnitude of social work collectively undertaken by the gem and jewellery industry for the benefit of society. The sector accounts for approximately $36
Platinum Evara Celebrates Strong & Compassionate Women
Mumbai: The devastating second wave of the pandemic had far-reaching effects across various sections and strata of the society. During these times, it was the women who led from the front and became the fulcrum around which families and communities held together. Right from world leaders and front-line workers to home makers and salaried professionals, women from various walks of life became the
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
