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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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JNA Awards 2014: Deadline for Entries Extended to 8th May
Hong Kong: JNA Awards, the annual industry-wide event that honors the innovators and leaders of the international jewellery industry, with a focus on their achievements and contribution in Asia, has now extended the deadline for accepting entries up to 8th May, 2014, an official press release issued by the organizer says. Individuals or companies may submit their entries or on behalf
CIBJO Releases Colored Stone Special Report
Milan: With fewer than five weeks to go to the opening of the 2014 CIBJO Congress in Moscow on May 19, 2014, the fourth of the CIBJO commissions Special Reports has been released, as stated in a press brief. Prepared by the CIBJO Colored Stone Commission, headed by Nilam Alawdeen, the report focusses on the proper disclosure of gemstone treatments and
Indias Silver Jewellery Exports Double
Mumbai: A shortage of gold as a raw material and the consequent decline in gold jewellery exports appears to have opened up new avenues of growth for silver jewellery in India, reports Mineweb. Indias silver jewellery exports rose 45.33% to $84.1 million in February 2014, and jumped 89% in the 11-month period to $1.35 billion, according to data from the Gem
AGL Celebrates Five Years under New Management
New York, 15th April: American Gemological Laboratories (AGL), a provider of high-quality gemstone analysis and reporting is celebrating its five-year anniversary under the stewardship of Christopher P. Smith. “Five years ago, AGL was re-privatized during one of the most difficult periods the US and world financial markets have experienced in recent decades. AGL, however, had a good reputation and we did
Sparkle 2020 Features Lab-Growns for the First Time
Surat: Surat’s annual jewellery event, Sparkle 2020, will feature lab-grown diamonds for the first time. Organizers Southern Gujarat Chamber of Commerce and Industry (SGCCI) say it’s because of the “growing acceptance of lab-grown diamonds in India and abroad”. At least 35 lab-grown diamond and jewellery manufacturers have already registered for the B2B expo which runs from 26 to 28 December.
Jonathan Kendall to Retire from De Beers Group
London: De Beers Group has announced on its official website that after 20 years with the business, Head of De Beers Group Industry Services and Head of Forevermark Operations, Mr. Jonathan (Jonnie) Kendall will be retiring at the end of the year. Jonnie has played an integral role in leading the evolution of many of De Beers Group’s downstream activities
Fancy Color Diamond Prices Slid by 0.7 Per Cent
New York: The Fancy Color Research Foundation (FCRF) yesterday announced the results of the Fancy Color Diamond Index (FCDI) for Q3 2020. 2020 will be remembered as the year the world stood still. Literally, most commercial and cargo flights halted, stores closed down and business resolved to work remotely with no travel to the office. Aligning with the COVID-19 restrictions,
Covid-19 Boosts Demand For Gold Loans in India: WGC
Mumbai: Households and small businesses in India have preferred to pledge gold as collateral to meet financing needs rather than selling it outright during the Covid pandemic, the World Gold Council (WGC) said in a market update titled ‘Gold loans help India weather the Covid-19 storm’. Demand for gold loans, both through banks and non-banking financial companies (NBFCs), has grown
