We Wish to Build Globally Relevant SKY Gold: Akash Talesara
Israel’s Diamond Industry Under Severe Pressure
Did Natural Diamond Ind. Misjudge LGD Threat?
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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British MPs Urge to Probe Gold Price-Rigging
London: British Members of Parliament (MPs) have called on the UK’s financial watchdog to investigate allegations of price-rigging in the London gold market after a senior regulatory executive said that there may have been co-ordinated attempts to manipulate a crucial benchmark, Financial Times reports. Members of the influential parliamentary Treasury select committee pressed the Financial Conduct Authority to act after
RBI to Swap Gold to Improve Reserves Quality
Mumbai: The Reserve Bank of India (RBI) said yesterday that it had sought quotes from banks to swap gold in its own vaults for international-standard gold, aiming to improve the management of its reserves. The RBI sources said that the measure would “standardize the gold available with RBI in India with respect to international standards” and the gold acquired would
6,000-Gram Gold “Devil’s Ear” Unearthed in Russia
Moscow: Russian miners have unearthed a scary-looking 6,664-gram piece of gold they labeled the “Devil’s Ear” on Friday the 13th. According to the official publication of the local government, workers at the Ukhagan mine in the Bodaybinsky district of Siberia found the piece, the largest nugget ever found in the area, on June 13, the eve of the full moon.
India May Increase Duty on Synthetics to 10%
New Delhi: The government may increase the import duty on man-made diamonds to 10 per cent in order to remove the price differential with natural diamonds which encourages some jewellers to “cheat the customers”, reports The Indian Express. Simultaneously, it could abolish the customs duty on cut and polished gem stones as these can be re-exported at higher value. The
IIJS Premiere 2022 All Set to Start from 4th August
Mumbai: IIJS Premiere 2022, the most coveted show of the year, is all set to welcome buyers and visitors from across India and different parts of the world from 4th to 8th August 2022 at Bombay Exhibition Centre, Goregaon, Mumbai. This 38th edition of IIJS Premiere will witness more than 1700 exhibitors, showcasing a range of products including Gold &
GJEPC Organizes First-Ever IJEX BSM in Dubai
Dubai: India’s Gem & Jewellery Export Promotion Council (GJEPC) along with the embassy of India in UAE organized the first-ever IJEX BSM in conjunction with IIJS Premiere 2022 roadshow on 19th July in Dubai. The event saw leading retailers from UAE connecting with top gem & jewellery manufacturers from India. The event was graced by His Excellency Sunjay Sudhir, Ambassador
Get-Diamonds Launches AR Tool VIRTUAL HAND
Antwerp: Get-Diamonds, the world’s largest B2B online platform for listing polished diamonds, owned by the World Federation of Diamond Bourses (WFDB), has launched VIRTUAL HAND, an augmented reality tool that enables users to virtually try-on a variety of diamond rings in different sizes, cuts, and settings, using computerized imaging. Get-Diamonds is the only B2B online platform to offer this tool. According
Israeli Diamonds Continue Upward Trend in H1 2022
Ramat Gan: Figures released by the Israel Diamond Controller for the first half of 2022 show that the positive trend in the diamond industry continued. All four major trade categories reported growth from January to June 2022, continuing the upward trend of the past 18 months. In the first half of the year, net imports of rough diamonds to Israel
