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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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Shaping the Roadmap for India’s $100 Bln. G&J Future
Mumbai: Department of Commerce, in association with the Gem & Jewellery Export Promotion Council (GJEPC), yesterday convened the ‘Chintan Shivir – 2040 Roadmap for Gems & Jewellery’, a high-level dialogue aimed at developing a comprehensive strategy to help India achieve its ambition of USD 100 billion in gems and jewellery (G&J) exports by 2040. The roadmap envisages an increase in
India’s Largest Platinum Experience Zone at Kalamandir Jewellers, Vadodara
Vadodara: Kalamandir Jewellers has unveiled India’s largest Platinum Experience Zone at its new flagship store in Vadodara, creating a dedicated destination for consumers to explore platinum jewellery across designs, occasions andprice points. The launch strengthens the visibility of platinum jewellery in Gujarat and complements Platinum Guild International’s (PGI) ongoing efforts to build awareness and appreciation for the metal through consumer education, design innovation
JGW Hong Kong Begins from 14th September
HONG KONG: Next month, the global jewellery industry has only one destination: Hong Kong. Organised by Informa Markets, JGW September (Jewellery & Gem World September) brings together 3,000+ exhibitors from 40+ countries and regions, all showcasing the collections that will define retail displays worldwide. This is the trade’s ultimate B2B sourcing destination: Six specialised buying experiences where attendees move beyond
GSI Issues India’s First Pigeon Blood Reports
Jaipur: Gemological Science International (GSI), one of the world’s largest gemological organizations, has begun issuing colored stone reports carrying recognized color trade names — Pigeon Blood for ruby, Royal Blue and Padparadscha for sapphire — in Jaipur and Mumbai. It is the first time such reports have been issued in India. The designations are granted only to untreated stones. Heated, diffused or otherwise enhanced material is
Forevermark Targets 210 Doors by 2016
Mumbai: “India is one of the most important, growing markets for De Beers and Forevermark – with doors currently at 170 with an end of year growth target of 210. Over the past 5 years Forevermark has expanded its presence to 28 cities across India. We are proud to say that our offering has been well received by the educated,
India’s Polished Diamond Exports Flat in June
Mumbai: Exports of cut and polished diamonds from India remained virtually flat in June 2016, dropping by a marginal 0.38%, year-on-year. The country exported US$ 1.846 billion worth of goods as compared to the US$ 1.853 bn in the same month a year ago, according to the provisional data released by The Gem & Jewellery Export Promotion Council (GJEPC). Gold
SGB: Fixed Price is INR 3119 Per Gram
New Delhi: The Indian Government has fixed Rs 3,119 per gram as the issue price for the 4th tranche of Sovereign Gold Bonds (SGB) scheme which is opened for subscription now. The government has reduced the minimum subscription denomination to 1 gm in the 4th tranche, which would be open for investment by individuals and institutional investors from July 18-22.
GJF to Hold Seminars on Excise Implementation
Mumbai: All India Gems and Jewellery Trade Federation (GJF) has said that it will conduct seminars in 60 cities across the country to create awareness among jewellers on norms of excise duty implementation and other trade related practices. “There is lot of confusion among jewellers about the excise duty norms, administrative matters and maintenance of records. We will organize seminars
