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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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BDB Holds Condolence Meet in Memory of Kavinbahi Chimanlal Parikh
Mumbai: Bharat Diamond Bourse (BDB) held a solemn and heartfelt condolence meet to pay tribute to its esteemed founding member, Shri Kavinbhai Chimanlal Parikh, who passed away recently. The gathering, attended by prominent members of the diamond trade, industry veterans, and BDB office-bearers, reflected on Shri Parikh’s extraordinary contributions to the Indian diamond industry and his pivotal role in the
MMTC-PAMP Unveils Laddoo Gopal Silver Bar
Mumbai: MMTC-PAMP, India’s only London Bullion Market Association (LBMA) accredited Good Delivery gold & silver refiner is proud to announce the launch of the Laddoo Gopal 50 grams 99.99%+ purity Silver Bar. This exquisite silver bar pays tribute to Lord Krishna, showcasing an image of the childlike innocence and divinity through intricate designs and fine Swiss craftsmanship. Laddoo Gopal is
Seminar on AI-Based Diamond Paternity Testing
Mumbai: The Diamond Exporters’ Association Limited (DEAL), in collaboration with the Bharat Diamond Bourse (BDB), organized an insightful seminar on Artificial Intelligence-Based Diamond Paternity Testing at the BDB Convention Hall, Bandra Kurla Complex, Mumbai. As artificial intelligence continues to transform industries globally, its application in the diamond sector has become increasingly significant. The seminar addressed the vital role AI now
Jewellers Hopeful for Good Demand in Akshay Tritiya
Mumbai: Gold prices have proceeded to touch Rs. 1 lakh per 10 gram at the retail level recently and is likely to hurt consumer sentiment ahead of Akshaya Tritiya, a heavy purchase day for gold. The price of gold without the Goods & Services Tax (GST) was trading at Rs 97,200 per 10 gm. The jewellery trade is hopeful that
GJEPC Organized 6th Artisan Awards
Mumbai: In a grand event held in Mumbai, the Gem and Jewellery Export Promotion Council of India (GJEPC) unveiled the winners of the highly anticipated 6th edition of Artisan Awards 2023, the country’s esteemed jewellery design competition. This prestigious event, organized by GJEPC, showcased the exceptional talent and creativity of jewellery designers from across the nation and around the world.
Slight Decline in Sales of 4th Cycle
Gaborone: De Beers announced that sales of rough diamonds in the fourth sales cycle of 2023 saw a small decrease from the previous cycle. The provisional sales value for Cycle 4 2023 is $480 million, down 11% from $542 million in Cycle 3, and down 21% from Cycle 4 of 2022. Al Cook, CEO, De Beers Group, said: “Sales of
12th Edition of National Jewellery Awards
Mumbai: All India Gem & Jewellery Domestic Council (GJC), the national apex body of the gems and jewellery industry, has announced the 12th edition of National Jewellery Awards (NJA). Known for its stand for craft, devotion, and motivation for the industry, NJA is considered to be Industry’s biggest and widest award show that recognizes all sector of the industry and
Laguna Blu Diamond Sells for $25m
Geneva: The ultra-rare 11.16-carat pear-shaped Bulgari Laguna Blu – certified as the highest grade blue diamond ever by the GIA – was auctioned for just over $25m at Sotheby’s Geneva on Tuesday. It became the most valuable gem ever to be sold by Bulgari, after a four-minute bidding war between three parties on the phone and one in the showroom.
