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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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Cen. Bank Gold Demand to Rise in 2025: WGC
Mumbai: More than eight in ten (81%) of respondents have indicated that they expect reserve managers will continue to increase their gold holdings in the next 12 months, according to new data released by the World Gold Council (WGC). This is the highest ever recorded since its 2019 annual survey. The 2024 Central Banks Gold Reserves (CBGR) survey, which collected
PM Vishwakarma Training Program for Jewellery Artisans at IIGJ Udupi
Mumbai: India’s Gem & Jewellery Export Promotion Council (GJEPC) launched the PM Vishwakarma Training Program at Indian Institute of Gem & Jewellery (IIGJ), Udupi (Mangalore, Karnataka) in an endeavour to empower the artisans of the gem and jewellery industry and enhancing their skills and productivity. Participants of the program will receive a toolkit valued at ₹15,000 from the Government of
Govt. Clarifies Re-Import Rules for Unsold Jewellery at Exhibitions
New Delhi: India’s Ministry of Commerce & Industry has issued a crucial clarification concerning the re-import of unsold jewellery exported for exhibitions under specific conditions outlined in the Handbook of Procedure, 2023. This announcement follows recent amendments to the import policy for certain jewellery items. The Directorate General of Foreign Trade (DGFT), Department of Commerce, Ministry of Commerce & Industry,
7th Platinum BSM on 4th & 5th July
Kochi: Platinum Guild International (PGI)-India has organized the highly anticipated 7th edition of its prestigious flagship event, the Platinum Buyer-Seller Meet (BSM) in Kochi. The marquee event will be held on 4th and 5th of July 2024, bringing together 16 official platinum jewellery manufacturers and leading names in retail jewellery business under the PGI programme. Renowned for its focus on design and
Celebrate Int’l Men’s Day with MS Dhoni Signature Collection
Mumbai: This International Men’s Day, experience MS Dhoni’s most admired values and characteristics embedded in every smooth curve, fluid design and bold lines of Men of Platinum’s recently launched MS Dhoni Signature Edition. This iconic collection by Platinum Guild International (PGI) India’s Men of Platinum encapsulates Dhoni’s inspiring journey as well as his unmatched character and greatness with the resplendence of rare and
KP Fully Lifts CAR Diamond Exports Ban
Dubai: The Kimberley Process (KP) Plenary, which took place last week in Dubai, United Arab Emirates (UAE), saw members voting to lift a decade-long ban on rough diamond exports from the Central African Republic (CAR). KP suspended diamond exports from the country in May 2013 after the Seleka fighters seized the capital Bangui in March of the same year, overthrowing
India’s Significant Achievement at KP
Dubai: The delegation, led by Mr. Siddharth Mahajan, Joint Secretary, Ministry of Commerce, Government of India, and consisted Mr. R. Arulanandan, Director and Mr. Sabyasachi Ray Executive Director and team from GJEPC, participated in discussions in order to promote conflict-free rough diamond trade. India’s proactive engagement with the KP process highlights our dedication to upholding ethical sourcing practices, combating conflict
Civil Society Slams KP in Plenary Meeting
Dubai: The Kimberley Process Civil Society Coalition (KPCSC) has criticized the diamond industry’s regulatory body for its lack of meaningful reforms, accusing it of going in circles without real progress. Speaking at the Kimberley Process plenary in Dubai, KPCSC coordinator Jaff Bamenjo expressed frustration over the UN-backed organization entering its second year of another reform cycle while persistent challenges remain
