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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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Dhoni Joins Malabar Gold as Brand Ambassador
Mumbai: Malabar Gold & Diamonds, a responsible jeweller, recently announced MS Dhoni as its Brand Ambassador, marking the beginning of a long-term association centred around The Responsible Jeweller, the brand’s philosophy of taking responsibility beyond jewellery. At a time when consumers are placing greater emphasis on transparency, authenticity and trust, Malabar Gold & Diamonds is reinforcing its commitment to responsibility across every
IIJS Bharat Premiere Receives Special Messages from India’s FM, Gujarat CM
Mumbai: IIJS Bharat – Premiere 2026 has received special messages from India’s Finance Minister and Minister of Corporate Affairs, Mrs. Nirmala Sitharaman and also from Gujarat Chief Minister Mr. Bhupendra Patel, recognizing India’s growing leadership in the global gem & jewellery industry. IIJS Bharat Premiere has grown into one of the world’s leading business platforms for the gem and jewellery
PNG Jewellers Achieves Record Q1 FY27 Revenue of 24,130 Mn
Pune: P N Gadgil Jewellers Limited has announced its unaudited financial results for the quarter ended 30th June 2026. Key Financial & Operational Highlights: § Retail Contribution: Retail sales continued to strengthen, with the retail share of total revenue increasing to 78% in Q1 FY27 from 70% in Q1 FY26, reflecting the Company’s continued focus on expanding its high-margin retail business. § Strong Same-Store Performance: The Company delivered a robust Same-Store Sales Growth (SSSG) of 46.1% YoY, driven by healthy
US Tariff Could Dent Growth of India’s G&J Industry: GJC
Mumbai: The United States (US) has maintained a 10% additional tariff on Indian gem and jewellery (G&J) exports under a permanent Section 301 regime, which replaced the previous temporary Section 122 surcharge on July 24, 2026. This duty applies to natural diamonds, lab-grown diamonds, coloured gemstones, and finished jewellery, impacting India’s primary overseas market. Expressing his dissatisfaction on the move,
WGC Members Contributed $38bn to Local Economies
Mumbai: A new report by the World Gold Council (WGC) highlights the role of its members, many of the world’s most forward-thinking gold mining companies, in contributing to socio-economic development in the countries and communities where they operate. Collectively, WGC member companies contributed$37.9bn to the GDP of the countries where they operate in the form of taxes, salaries and payments
New Emeralds from Musakashi Appear in Market
Basel: Advanced testing using Laser Ablation Inductively Coupled Plasma Mass Spectrometry (LAICPMS) on an anomalous stone from a batch of 10 emeralds submitted to the Swiss Gemmological Institute SSEF has indicated that it is likely to have been sourced at Musakashi, in the Solwezi district of central Zambia. This suggests that production at that site has been increased. The other
US Drops Proposed Duty on Indian Jewellery
Mumbai: The US has dropped plans to impose duties on certain jewelry items from India after the two countries reached an agreement over a controversial e-commerce tax. Earlier this year, the Department of the Treasury proposed tariffs of up to 25% on a range of Indian products, including selected gems and jewelry. This was in response to India’s digital services
Alrosa to Debut New Long-Term Agreements
Moscow: Alrosa has presented its customers with a new concept of creating a list of partners eligible for signing long-term agreements and new rough diamonds allocation principles, which will be relevant for the 2022–2024 contract period. Based on the lessons learned during the 2019 and 2020 crises, this approach takes into account the business specifics of different types of rough
