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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 Emphasises Jewellery’s Positive Societal Role
New York: Gaetano Cavalieri, President of the World Jewellery Confederation (CIBJO), informed the High-Level Segment of the United Nation’s Economic and Social Council (ECOSOC) in New York about the jewellery industry’s potential as a force for positive societal development, particularly during the period following the COVID pandemic. Among the leaders in attendance during the gathering was UN Secretary General António
Red Carpet Platinum Jewellery Trend
Mumbai: Statement necklaces set in platinum are making a comeback on red carpets around the globe! Celebrities including Rosie Huntington-Whitely, Rihanna, Lily Collins, and Kirsten Dunst have been spotted wearing a variety of bold necklace styles. Platinum Guild International (PGI), the marketing association for the platinum jewellery industry, predicts that necklaces ranging from single strand chokers with pendants to multi-layered
India Puts Restrictive Measures on Gold Imports
Mumbai: The Indian government has recently imposed new restrictions on gold imports, specifically targeting the import of gold jewellery from ASEAN and SouthEast Asia. This strategic move aims to strengthen the Indian jewellery industry by curbing the disproportionate import of bullion compared to jewellery and fostering local manufacturing capabilities. Mr. Saiyam Mehra, Chairman of the All India Gem and Jewellery Domestic
llJS Premiere with Groundbreaking Changes
Mumbai: The 39th edition of the India International Jewellery Show (IIJS) Premiere is poised to make history with its groundbreaking changes and exciting new features. With two separate venues, the Jio World Convention Centre and the Bombay Exhibition Centre, this year’s show promises to offer a wider range of products and a world-class experience. The response from exhibitors and retailers
Kirit Bhansali Elected Chairman, Shaunak Parikh VC of GJEPC
Mumbai: India’s Gem & Jewellery Export Promotion Council (GJEPC), the country’s apex nodal trade body, announced the appointment of Mr. Kirit Bhansali as Chairman; Mr. Shaunak Parikh as Vice Chairman and announced the constitution of new Committee of Administration (COA) after the completion of the COA Election 2024. Mr. Kirit Bhansali said, “Our vision is to drive transformative growth for India’s gem and
‘JOSH’ Holds Convocation Ceremony
Mumbai: The Jewellery Occupational Skilling Hub (JOSH), the first-ever industry-funded, state-of-the-art training centre of the Gem & Jewellery Skill Council of India (GJSCI), held its convocation ceremony at Bharat Ratnam Mega CFC SEEPZ, Mumbai on 12th February. The event celebrated the graduation of 136 candidates, comprising the ninth batch of regular trainees and the second and third batches of Specially Abled
Mehul Shah Elected Chairman of GII
Mumbai: The Gemmological Institute of India (GII), incorporated in 1971, has a long history of serving the diamonds, Gems & Jewelry sector by providing laboratory services, diamond detection, certification, research and education and onsite testing. GII has its own diamond detection machine Q CHECK. GII is also a pioneer in terms of certifying color gemstones. GII is a joint initiative of
Gold Prices on Down Trajectory
Mumbai: The price of gold continued its downward trajectory for the third consecutive day in India, reflecting a mix of domestic and global market influences. The decline in gold prices is evident across major markets. In Delhi, 10 grams of 24-carat gold is priced at Rs 76,963, a sharp drop from Rs 78,003 recorded yesterday. In Chennai, the price stands
