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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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7th GJS Concluded Successfully
Mumbai: The All India Gem and Jewellery Domestic Council (GJC) proudly concluded the 7th edition of its flagship event, the India Gem and Jewellery Show (GJS), held from 4th to 7th April, 2025 at the prestigious Jio World Convention Centre, Mumbai. Branded as #HamaraApnaShow, GJS April 2025 which brought together industry leaders, renowned jewellers, and stakeholders from across the globe to celebrate
Trump Pauses Tariff for 90 Days
Washington: The US President Donald Trump on yesterday announced a 90-day pause in reciprocal tariffs for trading partner countries that have not retaliated with higher levies on American goods — such as India — and further hiked the levy on China to 125% for hitting back. India has not retaliated to the 26% levy by Trump and has engaged the
AWDC Welcomes European Decision not to Impose Import Tariffs
Antwerp: The Antwerp World Diamond Centre (AWDC), the industry organization representing all Belgian diamond companies, has expressed relief and satisfaction following the European Council’s decision not to impose import tariffs on polished diamonds originating from the United States, as part of its package of countermeasures in response to the U.S. tariffs imposed by President Trump. European import tariffs could have
India Targets 500 Hallmarking Districts this Year
Mumbai: The Indian gems and jewellery industry witnessed a momentous occasion as Mr. Pralhad Joshi, Union Minister of Consumer Affairs, Food & Public Distribution, and Minister of New & Renewable Energy, graced the prestigious India Gem & Jewellery Show (GJS) at Jio World Convention Centre, Mumbai. The event also marked the 25th anniversary of hallmarking of gold in India, a
World Gold Council India CEO to Step Down
Mumbai: The World Gold Council (WGC) has announced that Mr. Somasundaram PR, Regional CEO, India, will step down from his current position next year when his successor has been appointed. Mr. Somasundaram PR joined the WGC in January 2013 and during the last decade has played an instrumental part in supporting many of the India gold market’s structural reforms, from
Augmont Partners with Leading Brands
Mumbai: Augmont, India’s Gold Platform has forged strategic partnerships with some of the most esteemed brands like Home Credit, Kalyan Jewellers, PNG, ONeCode, and EbixCash to promote Digital Gold as a product. These collaborations are a significant step towards Augmont’s vision of revolutionising how customers engage with Digital Gold investments. Augmont has always been committed to innovation, and its belief
Plot Allotted for Jaipur Gem & Jewellery Bourse
Jaipur: India’s Gem & Jewellery Export Promotion Council (GJEPC), the apex trade body sponsored by the Ministry of Commerce & Industry, Govt of India has teamed up with the Jewellers Association Jaipur (JAJ) to form a special purpose vehicle (SPV), Jaipur Gem & Jewellery Board (JGJB) to implement the first-of-its-kind Jaipur Gem & Jewellery Bourse ‘dream project’. This global gemstone
Govt. of Wallonia invests €250,000 in iTraceiT
Hennuyeres, (Wallonia, Belgium): iTraceiT, an independent, third-party company specializing in traceability solutions and the creator of the world’s first digital diamond passport, has received a grant of €250,000 from the Walloon government’s investment fund W.IN.G (Wallonia Innovation and Growth). The funding will contribute toward the expansion of iTraceiT’s marketing and sales program and the company’s foothold in India and the
