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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 $2 million and barring the
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India's G&J Exports Rise 12.82% in April-September
Mumbai: For the cumulative period of April – September 2022, the overall gross exports of gem & jewellery (G&J) witnessed a growth of 12.82% to Rs. 161545.06 crores (6.31% in dollar terms to US$ 20580.11 million) as compared to Rs. 143187.15 crores (US$ 19359.01 million) for the same period last year. With this the gem & jewellery sector has managed
Al Cook to Succeed Bruce Cleaver as CEO of De Beers
London: De Beers Group has announced that Bruce Cleaver will be succeeded by Al Cook as CEO of De Beers Group from early next year. Bruce will become Co-Chairman of De Beers Group, alongside De Beers Group Chairman and Anglo American Chief Executive Duncan Wanblad. During more than six years as CEO of De Beers Group, Bruce has led the
PGI Men of Platinum Launches New Campaign
Mumbai: There are a few men who show self-belief and display immense courage when faced with challenging situations. These are men who always stay true to their values no matter what. In doing so, these men of character inspire those around them. The cricket pitch too is a place that tests the character of many, including the icons we love.
De Beers' 8th Cycle Worth $500 Mln.
Gaborone: De Beers said its eighth sight held from 19th September to 4th October witnessed rough diamond sales of $500 million, an increase of 1.62% on a year-on-year basis, but down 22% versus the preceding seventh sight of 2022. Mr. Bruce Cleaver, CEO, De Beers Group, said, “Demand for our rough diamonds during sales cycle 8 was in line with
Gaetano Cavalieri Addresses ECOSOC
Milan: CIBJO President Gaetano Cavalieri has addressed the High Level Segment of the UN Economic and Social Council in New York, and in his presentation stressed the commitment of both CIBJO and the international jewellery sector to assisting the United Nations meet its development goals. Dr. Cavalieri was addressing the annual keynote gathering of the UN agency as the head
5th Edition of IIJW Inaugurated in Mumbai
Mumbai: After completion of four successful years, the 5th edition of India International Jewellery Week, popularly known as IIJW, was inaugurated this morning in Mumbai by Mrs. Rashmi Thackeray. Present at the inauguration were Mr. Vipul Shah, Chairman of the Gem & Jewellery Export Promotion Council (GJEPC), Mr. Pankaj Parekh, Vice Chairman of GJEPC and other degnitories. Conceived and conceptualized
HRD Antwerp Adjusting Parameters of Cut Grade
Antwerp: HRD Antwerp is to adjust the proportion parameters of its Cut Grade, with changes taking place as of July 14. The Belgian lab said it is making the move “in order to be more compliant with the market standard, while maintaining the highest-quality grading standards that HRD Antwerp is known for”. “The HRD Antwerp Cut Grade is based on
Gold, Diamond Deposits Traced in Odisha
Bhubaneswar: Geological survey has revealed deposits of a variety of gem stones, gold and diamond in Boudh district in India’s Odisha state, Steel and Mines minister Prafulla Kumar Mallick informed in the State Assembly here on Friday, according to a report published in Odisha Sun Times. Replying to a question by Mahidhara Rana, he said as informed by the Steel
