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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Gold Prices May Decline to Rs 24,000 by Diwali
Mumbai: Following the Reserve Bank easing the 20:80 gold import norms, India Bullion & Jewellers Association (IBJA) said gold prices are likely to fall to Rs 23,000-24,000 per 10 grams by Diwali as it also expects the Customs duty reduction in the forthcoming Budget, reports The Freepress Journal. “RBI’s easing of 20:80 gold import norms is positive for the gems
CIBJO and Fairtrade International Sign MOU
Moscow, 23rd May: CIBJO and Fairtrade International have signed a Memorandum of Understanding according to which Fairtrade commits to working with CIBJO and its member organizations to improving certified Fairtrade gold supplies to the jewellery markets and members of CIBJO-associated organisations, and CIBJO commits to facilitating and encouraging its members to adopt and integrate fairtrade gold and metals into their
RBI Allows Private Agencies to Import Gold
Mumbai: The Reserve Bank of India (RBI) yesterday eased tough gold import rules by permitting seven more private agencies to import the yellow metal. It is a measure that industry officials say could increase supplies and reduce premiums in the peak wedding season. Gold imports by India, the world’s No. 2 bullion consumer after China, could quickly rise from current
GJEPC Flays Surat Diamantaires on Bourse Plan
Mumbai, 22nd May: The Gems and Jewellery Export Promotion Council (GJEPC), of India has criticized the move by some diamantaires in Surat to shift their Mumbai operations to the proposed Surat Diamond Bourse (SDB) in Surat, reports The Times of India. GJEPC chairman Vipul Shah said, “It is not the prerogative of 50 diamantaires to decide and win over others
Swarovski Closes down its Gemstone Business in India
Mumbai: Swarovski has closed down its gemstone business in India. The Company that celebrated its 125th anniversary recently, Swarovski has churned out crystals in every imaginable shape and form, from sparkling dolphin figurines to encrusted fountain pens to glittering mobile-phone cases. An affordable indulgence rarely costing more than a few hundred dollars, Swarovski trinkets have invaded every corner of the
2nd IIJS Virtual from 8th to 12th Jan 2021
Mumbai: IIJS Virtual in October was a game changer for the industry with transaction of approximately Rs. 1000 Crore taking place and the industry could recover from the effects of pandemic to an extent. Now, India’s Gem and Jewellery Export Promotion Council (GJEPC) is all set to organise the second edition of IIJS Virtual 2.0 which will be held from
BDB Gives In-principle Approval For LGD Trading
Mumbai: The Bharat Diamond Bourse (BDB) members during the Annual General Meeting, have in principle approved the trading of lab-grown diamonds (LGDs) within the BDB. However, members cannot start trading in LGDs just yet. The BDB Managing Committee will now draw up a set of guidelines to be followed by members who wish to trade in LGDs. Mr. Mehul Shah,
Sovereign Gold Bonds Prised @ Rs. 5000 pg
Mumbai: The issue price for the next series of sovereign gold bonds has been fixed at Rs 5,000 per gram of gold, the Reserve Bank of India said in a statement on Thursday. The Sovereign Gold Bond Scheme 2020-21 – Series IX will be open for subscription from December 28, 2020 to January 1, 2021. “The nominal value of the
