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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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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
IIGJ’s Convocation Ceremony for Post Graduate Diploma
Mumbai: The Indian Institute of Gems & Jewellery, Mumbai held its convocation ceremony for graduates of the 1-year Post Graduate Diploma in Jewellery Management programme at the Institute’ auditorium recently, in which graduates of three batches were conferred with diplomas. Dr. Saumya Badgayan, Vice President-HR & IR graced the occasion as Chief Guest and presented trophies and certificates to the
No Sale of Gold Jewellery Without HUID from April 1
New Delhi: Sale of gold jewellery and gold artefacts without a Hallmark Unique Identification (HUID) number shall not be permitted in the country from April 1, Union Ministry of Consumer Affairs, Food and Public Distribution said on Friday. Briefing reporters, Nidhi Khare, Additional Secretary, Department of Consumer Affairs, said, “In consumer interest it has been decided that after 31st March,
GJEPC Presents India Advantage at the Hong Kong Show
Hong Kong: On the sidelines of the ongoing 39th HKTDC Hong Kong International Jewellery Show and 9th HKTDC Hong Kong International Diamond, Gem & Pearl Show, GJEPC organised an Event and Discussion on INDIA ADVANTAGE in the august presence of His Excellency Mr. Pradeep Kumar Rawat (Hon. Ambassador of India, People’s Republic of China) and Ms. Satwant Khanalia (Consul General,
A Welcome Relief for Indian G&J Exporters
Mumbai: A recent U.S. federal court ruling has provided significant relief to Indian jewellery exporters by blocking the implementation of the Trump administration’s proposed “Liberation Day” tariffs. These tariffs included a 26% duty on Indian gems and jewellery exports to the U.S., which posed a substantial threat to India’s $10 billion annual jewellery trade with the United States. Key Developments:
Platinum Love Bands Launches New Campaign
Mumbai: Platinum Guild International’s (PGI) Platinum Love Bands has unveiled its latest seasonal campaign: “Seal It with Platinum” With an estimated 10 million weddings taking place each year in India, the campaign taps into the deep emotional clarity and personal meaning modern, Indian couples seek when choosing symbols of commitment. Crafted as an occasion-first initiative, the campaign draws from the
India Pavilion Dazzles at Watch & Jewellery Show
Sharjah: The India Pavilion shined bright on the opening day of the Watch and Jewellery Show Middle East 2025 with 12 exhibitors (Badalia Gems Private Limited, Rajesh Gems, Diarah Jewels Private Limited, Sejal Exports (India), N K Jewels, Fine Colour Gems Private Limited, N.J. Gems, Shubham Motiwala & Jewellers Pvt. Ltd, Manoj Ornaments Pvt. Ltd.) The Pavilion is being organized
Botswana President to Headline WFDB Meeting
New York: The World Federation of Diamond Bourses (WFDB) Presidents’ Meeting, June 10–11 in New York, will feature an illustrious list of speakers, led by Botswana President Duma Boko and U.S. Secretary of Commerce Howard Lutnick and including Angolan Minister of Mineral Resources, Petroleum, and Gas Diamantino Azevedo and Botswana Minister of Minerals and Energy Bogolo Kenewendo. The meeting, which
