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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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Organised Jewellery Retailers’ Revenue to Rise 23-25%
Mumbai: Revenue of organised gold jewellery retailers, which had a growth spurt of 36% last fiscal on a low base of the pandemic-marred fiscal 2021, will maintain the glimmer in 2022 with 23-25% growth as volume grows on pent-up demand and recovery in discretionary spending, and realisations inch up, CRISIL Ratings said. Next fiscal, however, growth will moderate to 8-12%,
Saiyam Mehra is New Chairman of GJC
Mumbai The All India Gem & Jewellery Domestic Council (GJC), the national apex body of the gems and jewellery industry has appointed Mr. Saiyam Mehra as Chairman and Mr. Rajesh Rokde as its Vice Chairman for a period of two years (2023-24). The list of other newly elected directors of GJC has been uploaded on the company website www.gjc.org.in Mr Saiyam Mehra known for his vision to create benchmarks in the business of gold jewellery has been closely associated with GJC for the past many
Gold Prices Likely to Rise towards 62000 per 10 Gram
Mumbai: Demand for gold in 2023 is likely to rise due to geopolitical uncertainty coupled with the looming risk of recession, according to ICICI Direct Research. Historically, gold as an asset is considered to be safe as it typically manages to retain or appreciate its underlying value in times of turbulence. “Gold prices are likely to rise mainly on the
BVC Launches MarketSHIP to Secure Marketing Trips
The industry currently operates by traveling to a new city & carrying goods in a taxi while going door-to-door to new clients, and there are high risks undertaken, and an insurance claim challenge due to low limits for traveling salespersons. BVC has launched a door-to-door solution, wherein they will pickup from the origin, securely ship it to the destination, and
CIBJO Congress Focuses on Standards & Sustainability
Paris: The 2025 Annual Congress of the World Jewellery Confederation (CIBJO) opened on October 27 at the Comet Auditorium in Paris, welcoming more than 250 delegates from across the global jewellery supply chain. The gathering marks a milestone year for CIBJO as it nears its centenary, reaffirming its position as the guardian of industry standards, consumer trust, and ethical business
De Beers Reports Increase in Q3 Production
London: De Beers reported a sharp increase in rough diamond sales and production for the third quarter of 2025 compared to the same period last year. The sales volume tripled due to an extra selling event (Sight) in Q3 2025, which was reduced during the market downturn in Q3 2024. Production was up 38% year-on-year, primarily driven by higher output from
India Govt. Releases Special BDB Postal Stamp
Bharat Diamond Bourse (BDB), the world’s largest diamond trading exchange, proudly marks a dual milestone this year; 41 years since its incorporation and 15 glorious years of successful operations at its iconic Bandra Kurla Complex premises since 17th October 2010. To commemorate this milestone, the Department of Posts, Government of India, released a special BDB Postal Stamp recognizing the Bourse’s outstanding contribution to India’s diamond industry and global trade excellence. The
Sky Gold & Diamonds Strengthens Mangalsutra Business with Strategic Acquisition
Mumbai: Sky Gold & Diamonds Ltd., manufacturer and exporter of gold and diamond jewellery, recently announced that its wholly owned subsidiary, Starmangalsutra Pvt. Ltd., has entered into an non binding term sheet to acquire a majority stake in Shri Rishab Gold, a reputed Mumbai-based jewellery firm. The partnership marks a significant step in Sky Gold & Diamonds’ strategy to establish
