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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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India’s G&J Exports Make Strong Recovery in Feb
Mumbai: India’s gem and jewellery (G&J) exports witnessed a resurgence in February, buoyed by the swift recovery of both the Chinese and Middle East markets. In February 2023, the overall gem & jewellery exports witnessed a surge of 24% to ₹28832.86 crores as compared to ₹23326.80 crores for the same period last year. In February 2023, the overall gross export
Platinum Market Likely to be in Deficit: WPIC
London: After two years of significant surpluses, the platinum market is forecast to move to a material deficit in 2023, according to a report from the World Platinum Investment Council (WPIC). The change from the 776 koz surplus in 2022 to the forecast deficit of 556 koz in 2023 is over 1.3 Moz. This reflects total supply remaining close to
US, EU to Consult Industry Leaders on Sanctions
New York: US and EU officials are to consult diamond industry leaders on further measures against Russia for its “unprovoked war in Ukraine”.James O’Brien, head of the Office of Sanctions Coordination in Joe Biden’s administration, will seek the views of diamond retailers, manufacturers, laboratories, and industry trade associations. The US currently sanctions rough diamonds from Russia, but not those polished
De Beers Generates $495m from 2nd Cycle
Gaborone: De Beers has announced a provisional rough diamond sales value of $495 million for the second sales cycle of 2023, according to Anglo American. The revenue raked in rose 9% compared to $454 million registered during the first rough diamond sales of the year or $652 million, a year earlier. Group chief executive Al Cook said they witnessed continued
Gemfields Releases 2025 Audited Report
London: Gemfields Group Limited (GGL) recently announced its audited Annual Report for the year ending December 31, 2025, reporting total revenue of $ 135.1 million, down from $ 199.4 million in 2024. The fall in revenue was credited to disruptions in the emerald market during the first half of the year and reduced recovery of premium-grade rubies at Montepuez Ruby
41st World Diamond Congress Announces Programme
Singapore: The Organising Committee of the 41st World Diamond Congress, to be held July 12-15, 2026, in Singapore, announced its Congress programme. The Congress will include five discussion forums or panels. They are: The World Diamond Congress is the diamond industry’s foremost global gathering, held biennially by the World Federation of Diamond Bourses (WFDB) and the International Diamond Manufacturers Association
Lucia Silvestri is the Chief Guest at Artisan Awards 2026
Mumbai: India’s Gem & Jewellery Export Promotion Council (GJEPC) has announced 8th April 2026 as the date for the prestigious Artisan Jewellery Design Awards 2026. Official theme of the Award is “Quantum Couture – Re-Engineering Beauty and Cultural Codes.” The GJEPC team declared, “We are honoured to welcome Lucia Silvestri, the creative force behind some of Bvlgari’s most iconic masterpieces,
NDC Launches World Diamond Day on April 8
Mumbai: The Natural Diamond Council (NDC) introduces World Diamond Day on April 8, 2026, a global movement that brings people together through the stories behind natural diamonds. On this day, everyone is invited to participate, from those who work with diamonds every day to those who wear, gift, or admire them. World Diamond Day is about sharing the personal and
