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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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Sky Gold Enters MSCI India Domestic Small Cap Index
Mumbai: Sky Gold & Diamonds Ltd, one of India’s fast-growing jewellery manufacturers, has been added to the MSCI India Domestic Small Cap Index, as part of the latest index review announced by MSCI. The inclusion marks an important milestone for Sky Gold, reflecting the company’s growing presence and relevance within India’s listed small-cap universe. A key development during the current quarter
CIBJO Pays Tribute to Vasant Mehta
Milan: The World Jewellery Confederation (CIBJO) mourns the passing of Vasant Mehta, a prominent leader of the Indian diamond and jewellery industry, who passed away yesterday at the age 81. A former chairman of the Gem & Jewellery Export Promotion Council (GJEPC), a position he filled from 2008 to 2010 after two terms as vice chairman, he represented the Indian
Vasant Mehta, Illustrious Leader of G&J Industry Dies
Mumbai: The Indian gem and jewellery industry has lost one of its most respected statesmen. Vasant Mehta, former Chairman of the Gem & Jewellery Export Promotion Council (GJEPC), passed away today, leaving behind a remarkable legacy built over several decades of dedicated service to the industry. A second-generation diamantaire, Mehta graduated from Calcutta University and moved to Mumbai in 1966,
BSM Brazil 2027 Returns to São Paulo with Expanded International Presence
São Paulo, Brazil: Following the remarkable success of its previous editions, Buyer Seller Meeting (BSM Brazil) will return to São Paulo in April 2027, further strengthening its position as Latin America’s premier international B2B event for the diamond, gemstone, jewelry and precious metals industries. Organized with the mission of connecting qualified buyers and leading international suppliers, BSM Brazil 2027 will welcome an even larger number
India's G&J Industry Unhappy with Union Budget
Mumbai: India’s Finance Minister’s focus for Union Budget 2016-17 was macro-economic stability and fiscal discipline as part of the transformational agenda. It was presented against the backdrop of challenging global headwinds while taking into account India’s status as a bright spot of 7.5%+ growth in a slowing global economy. There are several positive takeaways from the Union Budget and yet
Budget Delivers ‘Blow’ to India's G&J Sector
New Delhi: Jewellery lovers in India will have to shell out more for the gold and diamond jewellery as the budget has imposed 1% excise duty, which comes as a blow to the gems and jewellery sector which was hoping for a cut in import duty on gold from 10% to 2%. The India Bullion & Jewellery Association (IBJA) fears
Vedanta Wins India's First Auction of Gold Mine
New Delhi: The first-ever auction of a gold mine in the country was held in Chhattisgarh on Sunday. Vedanta Ltd won the auction for Baghmara (Sonakhan) gold mine with its highest bid of 12.55 percent of IBM (Indian Bureau of Mining) price of Rs 74,712/ troy ounce (1 troy ounce = 31.10 gram), official sources said. The production from the
India Nets 1,131 Kg. Gold under GMS
New Delhi: The government of India has netted a hefty 1,131 kg of gold valuing Rs 3,014 crore under the Gold Monetisation Scheme (GMS), the Parliament was informed on Friday. “Under the scheme 1,131 kilograms of gold valuing Rs 3,014 crore have been deposited by 71 depositors so far,” Minister of State for Finance Jayant Sinha said in a written
