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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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GJEPC Held 6th India Rough Gemstone Sourcing Show
Jaipur: The 6th edition of the India Rough Gemstone Sourcing Show (IRGSS), organised by GJEPC, was inaugurated in Jaipur on 31st August 2022 by Sugrive Meena, Commissioner of Customs, Jaipur. The three-week-long exhibition ends on 20th September 2022. It features an assortment of rough emeralds displayed by the Gemfields-owned Kagem Mining Limited, Zamiba. Vipul Shah, Chairman, GJEPC, said, “First held
Bhoomi Poojan of Mega CFC at SEEPZ
Mumbai: Boomi Poojan of the state-of-the-art Mega Common Facility Centre (CFC) at SEEPZ was held in the presence of Mr. Piyush Goyal, Hon’ble Minister of Commerce & Industry, Consumer Affairs & Food & Public Distribution and Textiles, Government of India, who attended the event virtually; Mr. Shyam Jagannathan, Zonal Development Commissioner, SEEPZ, Mumbai; Mr. C.P Singh Chauhan, Joint Development Commissioner,
Seventh Cycle of De Beers Fetches $638 mln.
Gaborone: De Beers raked in $630 million from the seventh rough diamond sales cycle of 2022 compared to $522 million, a year earlier or $638 million during the sixth sales cycle of the year. Group chief executive Bruce Cleaver said rough diamond sales continued at a steady level in the seventh sales cycle of 2022. “In line with normal seasonal
Vipul Shah Elected Chairman, Kirit Bhansali VC of GJEPC
Mumbai: Gem & Jewellery Export Promotion Council (GJEPC), the apex body of the gem & jewellery trade in India, announced the Election Results of the new GJEPC board members for the tenure of 2022-2024 on 30th August 2022. Mr. Vipul Shah, the Vice Chairman of GJEPC for the tenure 2020-22, took charge as the Chairman of GJEPC for the tenure
De Beers Sets out Portfolio & Organizational Actions to Support Long-Term Value Creation
London: De Beers Group is advancing delivery of its business streamlining by setting out a number of planned portfolio and organisational changes to ensurean efficient cost base that strengthens resilience in the near-term while enhancing future competitiveness and retaining optionality as industry conditions improve. Since 2024, De Beers has been streamlining its business in line with its Origins strategy to
Kering Holds 2nd “Kering Generation Award X Jewelry” Ceremony
Milan: The second edition of the Kering Generation Award X Jewelry took place on July 9, 2026, at the luxury group Kering’s headquarters in Paris during Paris Haute Couture Week. The World Jewellery Confederation (CIBJO) is a partner of Kering in the awards, which aim to support visionary talent whose work demonstrates excellence in sustainable design and practices in jewellery-making.
41st World Diamond Congress Kicks Off in Singapore
Singapore: With almost every seat taken in the Atrium Ballroom of Singapore’s Park Collection Hotel in City Island’s Marina Bay district, the 41st World Diamond Congress kicked off on July 13. In his welcome speech, Fabio Cascapera, Chair of the Congress Organising Committee and President of the Diamond Exchange of Singapore (DES), noted that since the 24th World Diamond Congress was held in Singapore
Rapaport Melee Auction at Bharat Ratnam Mega CFC
Mumbai: India’s Gem & Jewellery Export Promotion Council (GJEPC), in association with SEEPZ Mumbai, invites members of the gem & jewellery industry to participate in the Rapaport Melee Auction at the Bharat Ratnam Mega CFC from 13th to 16th July. This is an excellent opportunity to source quality melee diamonds through a globally trusted auction platform while connecting with the
