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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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CIBJO Congress 2023 Commences in Jaipur
Jaipur (India): The World Jewellery Confederation (CIBJO) held its annual Congress for the first time in Jaipur at Fairmont, Jaipur. The Congress is being organised from 3rd to 5th October. Pre-Congress meetings were held on 1st and 2nd October. The 2023 Congress is being hosted by the Gem & Jewellery Export Promotion Council (GJEPC) and the National Gem & Jewellery
Bharat Diamond Week Opened
Mumbai: 5th edition of “Bharat Diamond Week” (BDW) organized by Bharat Diamond Bourse (BDB) opened with International dignitaries from Angola, Botswana and buying delegation from over 6 economies along with Indian buyers visiting the Exhibition. In spite of the current volatile situation, BDW the “only Diamond and Diamond Jewellery” exhibition saw encouraging participation from buyers. The Bharat Diamond Week 5th
India Gem and Jewellery Show Inaugurated
Mumbai: Honourable Governor of Maharashtra, Ramesh Bais, inaugurated the Indian jewellery industry’s most-awaited all-purpose event, India Gem and Jewellery Show (GJS), in a glittering ceremony held at the prestigious Jio World Convention Centre, Mumbai, on Saturday, 30th September 2023. The guest of honour for this Diwali edition of GJS event was Mr. Suvankar Sen, MD and CEO of Senco Gold Ltd,
GJEPC Hosts Gem & Jewellery BSM
Mumbai: India’s Gem and Jewellery Export Promotion Council of India (GJEPC), the apex trade organization dedicated to promoting Indian gem and jewellery exports worldwide, organised the Gem and Jewellery Buyer Seller Meet (BSM) at ITC Grand Maratha, Andheri, Mumbai, on September 29th and 30th, 2023. This event is specifically designed to cater to international buyers from the U.S., the U.A.E., Egypt, Germany,
SAJEX to Open New Horizens for GJ Industry
Riyadh: The Saudi Arabia Jewellery Expo (SAJEX) 2025, organised by the Gem & Jewellery Export Promotion Council (GJEPC), is poised to be a landmark event for Indian jewellery manufacturers looking to tap into the lucrative and largely untapped Saudi Arabian market. With a focus on strengthening trade relations between India and Saudi Arabia, SAJEX offers a unique platform for exhibitors
Kagem to Resume Focused Open-Pit Mining
London: Gemfields has recently announced that its Kagem emerald mine in Zambia will recommence focused open-pit mining to enhance the recovery of premium emeralds. Following a strategic suspension of all mining activities announced on 23 December 2024, Kagem shifted its focus to processing ore from its stockpile. While 2025 emerald production has met carat recovery expectations, the proportion of higher-quality
Platinum Jewellery Sales Grew 15% on Akshay Tritiya
Mumbai: On Akshaya Tritiya 2025, despite high gold prices, overall gold and silver sales in India reached a significant ₹16,000 crore, with gold jewelry and related items contributing around ₹12,000 crore. While sales volumes saw a dip due to the price increase, the total value of sales remained strong. Gold prices were near peak levels during Akshaya Tritiya 2025, leading
WFDB Supports United Industry Position on Tariffs
Antwerp: The World Federation of Diamond Bourses (WFDB) announced recently that it stands united with the industry-wide position to request that the US Government grant a tariff exemption for natural diamond imports. The WFDB supports the statement released by the World Diamond Council (WDC) yesterday, which advocates for an industry-wide strategic exemption for natural diamonds. The WDC statement has been
