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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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AGS Launches Virtual Guild
New York: The American Gem Society (AGS) has launched a virtual guild, which is open to all members of the trade. The first GoTo Guilds meeting will be a presentation by Peter Yantzer, executive director of AGS Laboratories, on “Light Performance 101,” an in-depth primer on the American Gem Society’s Light Performance Cut Grade on July 8. “Originally, the intention
Quality Label ‘Antwerp’s Most Brilliant’
Antwerp: The City of Antwerp and the AWDC awarded three additional Antwerp jewelers the quality label ‘Antwerp’s Most Brilliant’, indicating they meet the strictest requirements in terms of quality, service and transparency. Antwerp’s Most Brilliant was launched earlier this year and collects the city’s most qualitative and reliable jewellers, living up to Antwerp’s reputation as a diamond centre of excellence.
“Please Withdraw Gold Import Curbs…”
New Delhi: Commerce Minister Nirmala Sitharaman said that her ministry has recommended that the finance ministry seriously consider easing import curbs on gold to help the beleaguered gems and jewellery export sector, reports The Economic Times. Speaking to ET, Sitharaman, who is also minister of state for finance, said that while the current account deficit (CAD) crisis had been somewhat
New Device Grades Fancy Colored Diamonds
London: A new device can color-grade both fancy colored diamonds as well as diamonds with secondary hues, says a release from manufacturer ImaGem. The device uses data from thousands of samples to derive its grades for fancy colored stones, says Dr. Lalit K. Aggarwal, chairman of ImaGem, which manufactures the device. The device, called the GL3200, can “identify which stones
E-Commerce Jewellery Exports through Courier Route
Mumbai: As announced by Indi’s Finance Minister Mrs. Nirmala Sitharaman in the 2022-23 budget, the Finance Ministry has come up with draft Standard Operating Procedure (SoP) for facilitating e-commerce jewellery exports through the courier route. The aim is to provide a simplified regulatory framework for manufacturers and traders who want to export jewellery through e-commerce. The new rule would permit
GIA to Shut down its Antwerp Grading Lab
Antwerp: GIA is to close its Antwerp grading lab, saying it is no longer economically viable. It will stop taking submissions on 1 July and cease trading altogether on 31 July. GIA indicated back in August 2020 that it could close or scale down the Antwerp operation. The Covid pandemic added to its woes, on top of a shift to
GemAtlas Launches New GA Demand App
London: GemAtlas.com, a global networking platform for the gems and jewellery industry has today launched a new App, GA Demand App, to cater to the polished diamond requirements of the Indian marketplace. The App will allow users to post specific requirements for certified and non-certified single and parcel stones for both Natural and Lab-Grown Polished Diamonds. To get instant leads
Men of Platinum Contest Winners Meet KL Rahul
Mumbai: This cricket season brought to the fore a lot more than sheer talent and performance excellence as is characteristic of the game. It was the display of the finest form of sportsmanship by men who exemplify exceptional values such as courage, perseverance, self – belief and resilience. To mark the season, Men of Platinum had released a film with
