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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 $2 million and barring the
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Gargi by PNGS Records 76.07% Surge in Sales
Pune: PNGS Gargi Fashion Jewellery Ltd. (Gargi), a leading name in the fashion jewelry industry, has clocked a stellar financial performance for the financial year from April 2023 to March 2024. It has reported a substantial increase in annual sales, up 76.07% to Rs 50.48 crore, compared to Rs 28.67 crore in the preceding year. Looking at the full-year performance,
Platinum Love Bands for Your Summer Wedding
Mumbai: As we enter the summer wedding season, draw inspiration from your favourite celebrities when it comes to engagement ring choices. Celebrities worldwide have long favoured engagement rings set in platinum for their memorable “I Do” moments as this naturally white metal is renowned for its elegance, durability, and timeless appeal. From A-list actors to music sensations, these celebrities have embraced platinum
GJEPC Organized InnovNXT, Forty Under 40 Leadership Summit
Mumbai: Indian diamond jewellery market will grow to US$ 17 bn by 2031 out of India’s total gem & jewellery of US$ 120 bn from $ 79 bn in 2021. 2024 is likely to be a record year for gold mine production and jewellery demand will be firm but vulnerable to gold prices. These interesting nuggets were revealed through several compelling
Global Gold Demand Stays Strong: WGC
Mumbai: The World Gold Council’s (WGC) Q1 2024 Gold Demand Trends report reveals that total global gold demand (inclusive of OTC purchases) was up 3% year-on-year to 1,238t, marking the strongest first quarter since 2016. Demand excluding OTC fell 5% to 1,102t in Q1 compared to the same period in 2023. Healthy investment from the OTC market1 , persistent central
PNG Jewellers Records 24% YoY Growth in Q3
Mumbai: PNG Jewellers announced that it has witnessed a consolidated YoY growth of around 24% in Q3 FY25, driven by a strong increase in same store sales growth, festive demand in Dussehra, Diwali and the wedding season. During Q3 FY25, the retail segment saw a YoY revenue growth of around 42% as compared to Q3 FY24. The franchise segment experienced
India Revises Nov Gold Import Data by $5 Billion
New Delhi: The India Government has revised downwards the gold import data for November to $9.8 billion, a sharp reduction from the earlier announced figure of $14.8 billion, according to data from the Directorate General of Commercial Intelligence and Statistics (DGCI&S) released on Wednesday. The $5 billion revision is attributed to a ‘calculation error’ caused by the alleged double counting
‘INDRA’ Launched to Promote Natural Diamonds
Mumbai: De Beers Group, the world’s leading diamond company, and the Gem & Jewellery Export Promotion Council (GJEPC), India’s apex jewellery trade body, yesterday announced the commencement of a strategic collaboration to strengthen the natural diamond narrative within the Indian gem and jewellery trade. The collaboration titled, INDRA – Indian Natural Diamond Retailer Alliance, will focus on supporting independent retailers in India
CIBJO Seminars at Vicenzaoro
Milan: CIBJO’s long-running Jewellery Industry Voices webinar and seminar series will kick off its sixth season in typical fashion, at the VICENZAORO show in Vicenza, Italy. As was the case last year, seven hybrid seminars will take place – in person at the Fiera di Vicenza exposition centre, and simultaneously live streamed. They will be held over two days, on Saturday,
