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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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GJEPC Leaders Meet New Ministers to Discuss Industry Issues
New Delhi: The leadership team of the GJEPC, including Chairman Mr. Vipul Shah, Vice Chairman Mr. Kirit Bhansali, Executive Director Mr. Sabyasachi Ray, along with Policy Advisor Ms. Monika Mohta, held a meeting with the Honourable Finance Minister, Smt Nirmala Sitharaman today, 13th June. The GJEPC delegation congratulated the Finance Minister on her efforts and discussed pressing issues and challenges currently
DMCC CEO Holds Productive Talks with GJEPC
Mumbai: Mr. Ahmed Bin Sulayem, the Executive Director & CEO of DMCC met with Mr. Vipul Shah, Chairman of GJEPC and Mr. Kirit Bhansali, Vice Chairman of GJEPC, in a meeting held at the GJEPC head office in Mumbai on 12th June. Mr. Shah extended a warm welcome to Mr. Ahmed Bin Sulayem and his team including Special Advisor – Precious
Bruce Cleaver is the New Chair of Gemfields
Mumbai: Gemfields has announced changes to the Board, due to take effect on 1 July 2024, following a broad search for both a new Chair and Non-Executive Directors. Appointment of Bruce Cleaver as Chair and Independent Non-Executive Director: Bruce Cleaver will join Gemfields’ Board as Chair and Independent Non-Executive Director on 1 July 2024. Bruce will also become Chair of
Swarovski Created Diamonds Launches in India
Mumbai: Building on the success of its Swarovski Created Diamonds collections in the USA, China, and Japan, the Austrian Maison ventures further into the fine jewelry market with the announcement of their launch in India. Crafted with Swarovski’s exquisitely cut laboratory-grown diamonds, which are identical to mined diamonds in every way but origin, Swarovski Created Diamond’s fine jewelry collections showcase the
Gem-A Launches ’24 Issue of The Journal of Gemmology
London: The Gemmological Association of Great Britain (Gem-A) has launched the latest issue of its academic publication, The Journal of Gemmology (Volume 39, No. 4, 2024). Released digitally on December 13, this issue contains news and research from the international gemmological community, including an article dedicated to emeralds from Musakashi in the Solwezi District of Zambia. These emeralds may exhibit similarities to
Celebrate Season of Commitment with Platinum Love Bands
Mumbai: The crisp winter air buzzes with romance, setting the stage for couples to celebrate their unique commitments. As wedding bells chime and anniversary plans take shape, it’s clear that love, in all its forms, is in the air. Couples now revel in a love that’s completely unscripted, welcoming each other’s quirks and faults. Together, they move past doubts and
Gemfields’ Rubies Hit Record High Price
London: Gemfields achieved a record high price of $322 per carat at its latest series of mixed-quality rough ruby auctions. The UK-based gemstone miner said the auction represented a “positive outcome under the current market conditions”, despite ongoing economic challenges in China and geopolitical turbulence. It said the civil unrest in Mozambique, where its Montepuez mine is located, had not affected
Mastering Lab-Grown Diamonds: Seminar by GSI
Mumbai: The industry has reached the intriguing crossroad of category diversification and transparency when it comes to diamonds. Natural or man-made, illegal mixing of both damages the trust of every stakeholder involved in the process. As lab-grown diamonds continue to gain traction in the luxury jewellery market, comprehensive knowledge has become essential for industry players. Encouraging transparency, Gemological Science International
