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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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World’s Largest Faceted Sapphire Up For Sale
Atlanta: Ophir Collection, LLC has announced that the Ophir Collection of rare gemstones is available for sale. The collection has been awarded nine GUINNESS WORLD RECORDS titles. Included within the collection is the world’s largest faceted Sapphire, the Ophir Sapphire. Weighing 31,308 carats, roughly the size of a dinner plate, the extraordinary blue gemstone is recognized by Guinness World Records
Two Miners Leave World Gold Council
London: Two longtime members of the World Gold Council have resigned from the organization, reportedly for financial reasons. The decisions of AngloGold Ashanti and Gold Fields to leave were cost based, according to a report in Bloomberg. In a statement, the organization said it “regrets the departures.” “As long-standing members, AngloGold Ashanti and Gold Fields have played a leading role
China’s Gold Demand to Continue For 20 Years
Beijing: China’s strong appetite for gold is expected to continue for the next 20 years, driven by the country’s increasing per capita income and the global shift of gold consumption from the West to the East, the China Gold Association said. In 2013, China’s gold consumption reached 1,176.4 tonnes, making it the world’s biggest gold consumer. Its consumption in 2014
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
De Beers Forevermark Organized 10th Annual Forum
Mumbai: De Beers Forevermark held its 10th annual forum in Mumbai from 24th to 26th August 2021. Hosting a hybrid virtual and in person event, the diamond brand reached over 8 lac partners, diamantaires, manufacturers and patrons. This year’s theme ‘Make Life Brilliant’ reflects De Beers’ purpose and belief that its diamonds have the power to Make Life Brilliant for its customers, communities, and the
Hurry to Register: 16 Days to Go for IIJS Premiere
Mumbai: Registration for IIJS Premiere 2021, which is being held in Bengaluru for the first time, is in full swing. The registration process is completely online and the organizer Gem & Jewellery Export Promotion Council (GJEPC) requests all those eager participants and visitors to get themselves registered as there are only 16 days remaining for the commencement of the show.
GET-Diamonds to Exhibit at JCK, Las Vegas
Antwerp: GET-Diamonds, the B2B diamond trading site owned by the World Federation of Diamond Bourses (WFDB), will exhibit at the JCK Show in Las Vegas later this month. This is the first time that GET-Diamonds, which draws from the vast global network of the WFDB, will specifically target the U.S. market, especially retailers. The move is seen as an important
IIJS Premiere to Help Achieve G&J Export Target
New Delhi: The Gem & Jewellery Export Promotion Council (GJEPC) in association with World Gold Council (WGC), organised the IIJS Premiere 2021 roadshow at New Delhi. It witnessed the participation of leading jewellery Retailers , Manufacturers and trade associations from Delhi and neighbouring areas. IIJS Premiere 2021, one of Asia’s leading Gem & Jewellery trade exhibitions, will be held at
