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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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Civil Society Questions the “Breakthrough”
Dubai: The Kimberley Process Civil Society Coalition (KP CSC) attended the Kimberley Process (KP) intersessional meeting in Dubai from 12–16 May. Statements made at the close of the meeting declared a breakthrough in the long-standing debate over revising the KP’s notoriously narrow definition of conflict diamonds. From the KP CSC’s perspective, it is unclear where such a breakthrough occurred—unless the
Gemfields Showcases 36 Ct. Ruby at June 2025 Auction
London: Gemfields will offer a broader range of secondary-type material at its forthcoming mixed-quality ruby auction in June 2025. The auction will include rubies recovered from a newer section of its Mozambican mine that has not previously been represented at auction in meaningful quantities and with a notable 36-carat ruby forming part of the offering. The gems, from the newer
Arvog Opens First Gold Loan Branch in Chennai
Chennai: Arvog, a smart-tech-enabled diversified finance company that provides financial products and services, particularly focusing on digital lending for personal and gold loans, announced the launch of its first Gold Loan Branch in Chennai, marking a strategic milestone in the company’s expansion into South India. The setting up of the branch will serve as a physical touchpoint for consumers to
Aupulent Jewellery Marks Milestone in Ethical Luxury
Mumbai:: Aupulent Jewellery, India’s lab-grown diamond brand, is redefining modern luxury with a powerful blend of legacy craftsmanship and sustainable innovation. Founded in 2021 by Surya Jain, a 5th-generation jeweller with a 150-year family heritage, the brand has quickly emerged as a frontrunner in the lab-grown diamond sector—championing a future where fine jewellery is both ethical and accessible. From its inception,
China Sets up $16b Gold Investment Fund
Beijing: China has set up a $16-billion gold investment fund aimed at developing trade and transportation infrastructure between China and the rest of Asia, a recent report said. The fund is part of the country’s “Silk Road” initiative, China Central Television reported. Shandong Gold Group and Shaanxi Gold Group – two of China’s top gold producers – will take up
IGI Certifies 'Largest Colourless Grown Diamond’
Hong Kong: The International Gemological Institute (IGI) Hong Kong recently certified what it believes is the world’s largest HPHT-grown colourless diamond, the company said in a press release. The 10.02-carat square emerald-cut stone was fashioned from a record-breaking 32.26-carat piece of man-made rough, grown by St. Petersburg-headquartered New Diamond Technology LLC, in less than 300 hours. The laboratory certified the
Gem-A offer BSc degree top-up course
London: The Gemmological Association of Great Britain (Gem-A) is offering students who’ve previously studied the Association’s Gemmology and Diamond Diploma courses the chance to turn their diplomas into a BSc Honours degree in Gemmology and Jewellery Studies with Birmingham City University. Initially announced in the Gem-A Prospectus in 2014 and since verified by a validation panel, the top-up degree will
Gold Smuggling in India Increased 900%
New Delhi: For the first time in the history of gold smuggling in India, the seizure in illicit trade has crossed Rs 1,000 crore mark in one financial year with customs, police and revenue agencies seizing more than 3,500 kg of gold in 2014-15. In 2012-13, the same figure stood at merely Rs 100 crore with just about 350 kg
