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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
Top News
20 under 40: Celebrating the Next Generation of Leaders
Mumbai: India’s Gem & Jewellery Export Promotion Council (GJEPC)’s 20 Under Forty Awards celebrate exceptional young leaders shaping the gem and jewellery industry. The GJEPC recently opened nominations for the 2026 edition. Honorees will be recognized at IIJS Bharat – Premiere 2026, being held August 5–9 at the Jio World Convention Centre and August 6–10 at the Bombay Exhibition Centre
GJEPC Gears Up Industry for India–UK CETA Rollout
Mumbai: The implementation of the landmark India–UK Free Trade Agreement (FTA) on 15 July 2026 marks a transformative milestone for India’s gem and jewellery industry, opening the door to significantly greater market access, enhanced competitiveness and accelerated bilateral trade with one of its key export markets. With zero-duty access for nearly 99% of Indian exports to the UK, the agreement
Global Gold City Project Announced
Hyderabad: Goldsikka Limited, a Hyderabad based Company, has introduced the Global Gold City Project (GGC), a pioneering initiative to establish India’s first integrated gold ecosystem. This project will consolidate mining, refining, trading, manufacturing, and digital infrastructure into a single hub, positioning India as a global leader in the gold industry. The project’s main objective is to Build a world class gold
P N Gadgil Jewellers Reports Revenue Growth of 41% YoY
Mumbai: P N Gadgil Jewellers has recently announced its quarterly results. The Company delivered a strong performance in Q1 FY27, reporting robust revenue growth of 41% YoY. The Retail segment grew 56% YoY, with robust same-store sales growth (SSSG) of 46% YoY as the primary driver, indicating that the growth was substantially organic in nature, driven by deeper customer engagement
India’s Diamond Industry Affected: Vipul Shah
Mumbai: India’s diamond industry has been affected due to a 40 per cent fall in demand from slowdown-hit China, industry body GJEPC said. “We are feeling the pinch of slowdown in Chinese demand for diamond jewellery. Our market share in China has come down by 40 per cent due economic slowdown,” Gem and Jewellery Export Promotion Council (GJEPC) Chairman Vipul
Gemfields’ Emerald Auction Realizes $34.7 Million
Singapore: Miner Gemfields said results from its recent auction held in Singapore met expectations. The gems were extracted by Kagem Mining, which is 75% owned by Gemfields and 25% by the government of Zambia, according to a report by StockMarketWire.com. The auction also included higher quality amethyst from Kariba Minerals Ltd in which Gemfields has a 50% interest, with the
DRC Techno Creates Lab-Grown Diamond Detector
Mumbai: Dharmanandan Research Centre (DRC) has introduced its new instrument to identify lab-grown diamonds. Called D-Secure, the device recognizes all shapes of lab-grown diamonds in sizes ranging from 0.003 carats to 10 carats. “The technical team at DRC developed this device to counter the rising problem” of man-made diamonds in the diamond business, said DRC director Vipul Sutariya. The new
ALROSA Raised $1.13M during Diamond week
Moscow: ALROSA raked in $1.13 million during its Diamond auction week in Yakutia, said Catherine Kormilitsyna, the head of the Ministry of Enterprise and Tourism of Yakutia. “ALROSA Diamond Company sold a total of 25 lots worth $1.13 million during the Diamond week. By the way, this year’s auction earned the company less than the previous year. In 2014, ALROSA
