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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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Dubai’s Largest Polished Diamond Auction
Dubai: Rapaport Diamond Corporation and DMCC have announced the largest polished diamond auction ever held in the emirate’s history. The auction will feature over 3,200 lots of polished diamonds, totalling more than 50,000 carats, and will be held at the Dubai Diamond Exchange (DDE) in Almas Tower. This event marks a strategic expansion of Rapaport’s viewings in Dubai and a
GJSCI Makes the Nation Proud Again
Mumbai: India’s Gem and Jewellery Skill Council of India (GJSCI) has yet again made the nation proud by bagging the prestigious Medallion of Excellence Award at the World Skills Competition, Lyon – France, 2024. The competition, held in Lyon, France, witnessed participants from over 80 countries vying for top honors in various skill categories. GJSCI’s Performance at the WorldSkills Competitions
IIGJ to Participate in Live Interaction with PM
Udupi: On the occasion of the first anniversary of the Pradhan Mantri Vishwakarma Scheme, the Indian Institute of Gems & Jewellery (IIGJ), a Project of GJEPC in Udupi, has been selected as one of seven institutes nationwide for a live interaction with Hon’ble Prime Minister Mr. Narendra Modi on 20th September 2024. PM Vishwakarma is a groundbreaking initiative aimed at empowering
Gemfields Announces Recent Auction Results
London: Gemfields recently announced the results of its auction, which primarily featured commercial-quality sapphire, corundum, and ruby. Held from 2 to 4 September 2024, the auction generated significant positive outcomes, particularly for lower-priced rough gems. The auction achieved a total revenue of USD 2.3 million, with 5.7 million carats (equivalent to 1,130 kilograms) offered across 10 lots, all of which
Gem-A Awards Cavalieri with Hon. Fellowship
London: CIBJO President Gaetano Cavalieri has been a named an Honorary Fellow of the Gemmological Association of Great Britain (Gem-A) in recognition of his outstanding contribution to the field of gemmology. The award was made by Gem-A President Harry Levy during the association’s graduation ceremony at Goldsmith’s Hall in London on November 3. With its goal of advancing the science
Gems and Jewellery Forum Launched in Dubai
Dubai: DMCC, Dubai’s and the region’s global gateway for commodity trade and enterprise officially launched the Middle East Gems and Jewellery Forum (‘MEGJF’). The event was inaugurated by His Highness Sheikh Ahmed Bin Saeed Al Maktoum, President of the Department of Civil Aviation, CEO and Chairman of The Emirates Group and Chairman of Dubai World, held at the DMCC headquarters
Alex Popov Addresses 2nd ZDC
Harare: Alex Popov, Chairman of the World Diamond Mark Foundation (WDMF) proposed to participants of the Second Zimbabwe Diamond Conference that the WDMF could play a big part in bringing African diamonds and the message of their economic beneficiation to diamond jewelry consumers as part of its generic diamond promotion campaigns. Referring to the theme of the November 6-7 conference
Second Zimbabwe Diamond Conference Ended
Harare: The Second Zimbabwe Diamond Conference ended on November 7 with a vigorous panel debate on the issue of beneficiation as the engine of growth for the country’s diamond industry. The panel included Mr. Richard Mvududu, Chair of the Diamond Beneficiation Association of Zimbabwe, Mr. Tafadzwa Musarara from Resources Exploitation Watch, Mr. Shamiso Mtisi, KP Civil Society Coalition Representative in
