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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
Top News
European Natural Diamonds Exempted from US Tariffs
Antwerp: Natural diamonds cut in Europe will once again be exempted from US import tariffs. This brings an end to the 10% import tariff that had been in effect for the past six months. The restored exemption is significant news for the Antwerp diamond sector: Antwerp is Europe’s leading diamond-cutting centre, and the United States is a major trading partner
De Beers’ Rough Production Rises 88% in Q2 2026
London: De Beers has reported that its rough diamond production was 88% higher at 7.8 million carats, reflecting the impact of the extended maintenance shutdown in the comparative period at Orapa in Botswana, as well as the planned mining of higher-grade ore at both Jwaneng in Botswana and Gahcho Kué in Canada. Planned plant maintenance at Orapa and Jwaneng during
Only Natural Diamonds Should be Graded with 4Cs: CIBJO
Milan: The Diamond Commission of the World Jewellery Confederation (CIBJO) has insisted that the 4C polished diamond grading system (cut, color, clarity, and carat weight) should only be used for natural stones, but not synthetic ones. In the Special Report prepared for the upcoming 2026 CIBJO Congress, the Commission’s head Udi Sheintal also urged the industry’s stakeholders to use the
Forevermark Diamond Jewellery Enters East India
Kolkata: Forevermark Diamond Jewellery from De Beers Group has strengthened its presence in East India with the launch of its new store at South City Mall, Kolkata, marking the opening of its 10th store in India and another significant milestone in the brand’s retail expansion journey. Inaugurated by filmstar Raima Sen, the store brings Forevermark’s signature collection of natural diamond jewellery to one of the
66 Indian Companies Participating in VOD
Mumbai: The Gem & Jewellery Export Promotion Council (GJEPC), the apex body of the gem & jewellery industry in India, in its effort to cater to the rapidly emerging Middle East Gems & Jewellery market is organizing India Pavilion at this year’s Vicenzaoro Dubai (VOD) scheduled from April 14 to April 17 at the Dubai World Trade Centre, Dubai. After
Natural vs. Synthetic Diamonds- Seminar in VOD
Hong Kong: The World Diamond Mark Foundation (WDM), in cooperation with HRD Antwerp Istanbul, will hold a seminar entitled “Setting Nature’s Wonders Apart – Natural diamonds versus synthetics” during the upcoming VICENZAORO DUBAI (VOD) 2016 fair that will be held from April 14 to 16, 2016, in Dubai, the United Arab Emirates. The presentation is part of a series of
Lucapa Achieves Record Sales of $23M in Q1 ’16
Luanda: Record diamond production, including the largest diamond ever found in Angola, has generated the Lulo diamond partners gross revenue of $23M (A$32.5M) in Q1 2016, “underlining the strong global demand for large top-tier gems.” Lucapa Diamond Co says the result was on diamond sales of 1,931cts at an exceptional average selling price of US$11,983ct (A$16,831ct), which included the $16M
Indian Jewellers Call off Strike
Mumbai: After keeping shutters down for 43 days against the proposed one per cent excise duty on non-silver jewellery, bullion traders and jewellers opened their shops on Tuesday. In the past six weeks, the striking jewellers not only lost on new business but also faced a tough time retaining artisans and paying rent for their establishments. To their disappointment, the
