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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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6th Edition of Platinum ‘Season of Love’ Retail Initiative
Mumbai: Platinum Guild India (PGI) has announced the sixth edition of its flagship retail initiative – ‘Platinum Season of Love’. A retail trade activation initiative, the month-long programme will kick off from May 1st – June 1st, 2023. Last year the ‘Platinum Season of Love’ saw over 1400+ stores from across 300+ cities reporting a 102% growth in platinum jewellery
Forevermark Opens 2nd Exclusive Boutique in Indore
Mumbai: De Beers Forevermark has unveiled its second exclusive boutique in Indore thanks to the encouraging support of its patrons that made its first store in the city a huge success along with the increasing demand for natural diamonds and contemporary jewellery. Located at the popular Phoenix Citadel Mall, the new boutique will showcase some of the brand’s most iconic
Augmont Gold for All Gets "Best OTT Platform" Award
Mumbai: India’s Gold Platform, run by Augmont Gold For All, has been honoured with the “Best OTT Platform for 2023” award at the recently held 8th India Bullion & Jewellery awards 2023. The Indian Bullion and Jewellery Association ltd (IBJA) organised the magnificent Award unveiling ceremony. IBJA recognises and honours the most deserving candidates while preserving the greatest level of
De Beers Finds a Diamond within Diamond
London: A De Beers sightholder found an “anomaly” in one of its parcels: a diamond encased within another diamond. India-based VD Global discovered the 0.329-carat, D-color, type IaAB diamond, named the Beating Heart, in October, and returned it to De Beers for testing, the miner said last week. The stone originated from one of De Beers’ mines in Botswana, Canada,
UK-Ireland Jewellery Industry Unite Over Ethics
London: Industry leaders from the major trade associations and buying groups in the UK and Ireland have come together to take a lead on issues of ethics and corporate social responsibility in the jewellery industry by backing the work of the Jewellery Ethics Committee UK (JEC-UK). At a designer-maker evening event organized by JEC-UK at the Goldsmiths’ Centre on Thursday
India Needs More World-Class Gold Refineries
Mumbai: At the two-day seminar organized by the India Bullion and Jewellers Association (IBJA), experts were of the opinion that Indian household, which has total holding of around 25,000 tonnes of gold, needs more gold refineries for monetizing and attracting foreign direct investment (FDI) in the sector. India continues to be a major consumer of gold, importing on average 600
Indian Bullion Trade Asso. to Retail Gold, Silver
Mumbai: India’s bullion trade body, India Bullion and Jewellers Association Ltd. (IBJA), has entered into retailing of gold and silver coins and bars, reports resourceinvestor.com. This is the first time that IBJA has entered into bullion trading. The association will source gold from overseas and local gold suppliers. The coins will range between 1 gram and 1,000 grams and will
Put Gold to Work for Economy: WGC
Mumbai: Gold should be put to work for the Indian economy, creating jobs, developing skills, generating exports and revenues, the World Gold Council (WGC) said on Saturday unveiling its Vision 2020 for the industry, reports The Times of India. “Our vision for gold is that it should be put to work for the economy, creating jobs, developing skills, generating exports
