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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
Top News
Augmont Gets 4 Prestigious Awards
Mumbai: Augmont Enterprises Pvt. Ltd. and Augmont Goldtech Pvt. Ltd. have been recognized for their prominent contributions to the bullion and digital gold industry at the 10th India International Bullion Summit (IIBS), hosted by the India Bullion and Jewellers Association (IBJA). The group secured honors across four key categories, reaffirming its leadership and commitment to innovation, transparency, and proficiency in the sector.
CIBJO Recommends New Definition of ‘Recycled Gold’
Milan: The World Jewellery Confederation (CIBJO) is recommending a new definition of “recycled gold״ to be used in the jewellery and watch sectors, so as to provide greater clarity and consistency both within the industry and marketplace. CIBJO will henceforth include the definition in the guidance documents it produces. The definition, which covers recycled materials recovered during manufacturing and fabrication
SEZ Conclave Stresses Ways to Boost G&J Exports
Mumbai : India’s Gem & Jewellery Export Promotion Council (GJEPC) successfully hosted the 2nd SEZ Gem & Jewellery Conclave 2025 at Bharat Ratnam Mega CFC, SEEPZ, reinforcing its commitment to advancing Technology, Branding, and Investment in India’s gem and jewellery sector. Held under the theme ‘SEZ: The Future of Indian Exports,’ the conclave brought together industry leaders and experts to explore strategies for boosting
G7 Postpones Diamond Traceability Requirement
Mumbai: The Group of Seven (G7) nations have postponed the enforcement of stringent traceability requirements for polished diamond imports, moving the deadline from March 2025 to January 1, 2026. This delay provides significant relief to India’s diamond cutting and polishing industry, which faced challenges in complying with the new regulations within the original timeframe. The G7 countries—comprising the US, UK,
Are Platinum Prices Manipulated?
New York: A family run jewellery firm has issued a legal notice against major banking corporations for their alleged involvement in the rigging of metals contracts. Modern Settings has filed a class action lawsuit against banking giants Goldman Sachs, HSBC and Standard Bank. They were joined by chemical company, BASF, alleging manipulation of benchmarks used to set the price of
Chow Tai Fook Exploring Diamond Mine Acquisitions
Beijing: Chow Tai Fook Jewellery Group Ltd. (1929) is considering acquiring stakes in diamond mines to secure long-term supply of the gems as it targets growing demand for diamond jewelry in China, reports Bloomberg.com. Several mines around the world have asked Chow Tai Fook to invest, and the company has looked at some Canadian ones, Executive Director Adrian Cheng said
New Surat Diamond Bourse to Come up at Khajod
Surat: The most awaited project of proposed Surat Diamond Bourse has recently got a fillip as the Gujarat government has principally agreed to allot a plot at Khajod, said Mr. Pravin Nanavati, the former president of Southern Gujarat Chamber of Commerce & Industry (SGCCI). The proposed bourse would be spread over 300 acres plot and probable the largest in the
Surat to Become Diamond Trading Centre Soon
Surat: The Union government has given an in-principal approval to India’s first ‘diamond notified region’ in the diamond city of Gujarat. This will enable diamond mining companies from across the world to set-up rough diamond trading offices for direct trading with companies based in Surat and Mumbai, reports The Times of India. A delegation of Gujarat government met the Union
