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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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KP "Must Suspend Russia & Redefine Conflict Diamonds"
Johannesburg: The Kimberley Process (KP) must “stop turning blind eye to Russia’s invasion of Ukraine and take fight against conflict diamonds seriously”. KP Civil Society Coalition (KPCSC), the umbrella organization that oversees its activities, issued a strongly-worded statement on Tuesday, accusing the KP of being “no longer fit for purpose”.An attempt by Western nations to broaden the KP definition of
SGB Series Opens on 20th June
New Delhi: India’s Ministry of Finance on 16 June decided to issue the two tranches of Sovereign Gold Bonds Scheme (SGBs) for 2022-23, it said in an official statement. “The SGBs will be sold through scheduled commercial banks, Stock Holding Corporation of India Limited (SHCIL), Clearing Corporation of India Limited (CCIL), designated post offices, and recognised stock exchanges viz., National
Doug Hucker Appointed as New CEO of ICA
New York: The International Colored Gemstone Association (ICA) has appointed industry veteran Doug Hucker as CEO, to succeed Gary Roskin. Hucker was the CEO of the American Gem Trade Association (AGTA) for the past 24 years, before leaving in March. He has also served on the boards of a number of industry associations, including the American Gem Society (AGS), the
Govt. Sets G&J Export Target of $45.7 Bln. for '22-23
Mumbai: The Indian Government’s Department of Commerce has set a gem & jewellery export (G&J export) target of USD 45.7 billion for the year 2022-23. This follows the industry’s stellar contribution of nearly 10% to the country’s overall exports of USD 400 billion last year. The top gem and jewellery export targets set for key countries in 2022-23 are: USA
IIJS Bharat Premiere 2026 Crosses 25,000 Registrations
Mumbai: IIJS Bharat Premiere 2026 surpassed 25,000 visitor registrations, marking a strong response from the domestic and international jewellery trade. In view of the milestone, GJEPC has extended the Phase 1 visitor registration deadline to 10 July 2026, giving buyers and trade visitors additional time to register at the current rates before the next pricing phase. IIJS Bharat Premiere 2026,
Antwerp Presents Ring with 321 Natural Diamonds to the US
Antwerp: During the celebration of the 250th anniversary of the United States (US) in the Parc du Cinquantenaire in Brussels, the Antwerp diamond sector presented an exclusive ring set with 321 natural diamonds to U.S. President Donald Trump. The ring symbolizes the historic trade relationship between Antwerp and the United States – for decades the most important export market for
From London to Athens, GJEPC Builds New Export Opportunities
London: Representing India’s gem & jewellery industry (G&J), the Gem & Jewellery Export Promotion Council (GJEPC) Vice Chairman Mr. Shaunak Parikh joined the high-level business delegation led by India’s Commerce & Industry Minister Mr. Piyush Goyal to the UK and Greece. In the UK, GJEPC championed the industry’s priorities as the India–UK FTA paves the way for gem & jewellery
Candere Announces Smriti Mandhana as its New Brand Ambassador
Mumbai: Candere, the lifestyle jewellery brand from the House of Kalyan Jewellers, has announced celebrated Indian cricketer Smriti Mandhana as its new brand ambassador. Joining Shahrukh Khan as the face of the brand, Smriti’s association marks a significant step in Candere’s journey to strengthen its connect with young, modern Indian consumers. One of India’s most accomplished cricketers, Smriti has built
