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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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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
India’s Q1 Platinum Jewellery Sales +20-30% by Volume
Mumbai: Platinum Guild International (PGI) said two-thirds of its retail partners experienced growth of 20-30% YoY in platinum jewellery volume sales in Q1 2022, according to the latest Platinum Jewellery Business Review. This was attributed to rising gold prices, so retailers focused on driving higher margins through platinum jewellery by aggressively driving conversions in stores, PGI said. Sharing its top-line
GJEPC Charts $100 Bln. Export Vision for India’s G&J Sector
New Delhi: Mr. Kirit Bhansali, Chairman, Gem & Jewellery Export Promotion Council (GJEPC), was invited to attend the meeting organized with selected representatives of various industry sectors that contribute majorly to India’s merchandise exports chaired by Hon’ble Prime Minister Mr. Narendra Modi at New Delhi, on 3rd November 2025. Mr. Kirit Bhansali was representing the Gems & Jewellery sector that contributes 7%
Registrations for CIBJO Congress Now Open
Milan: Registrations for the 2026 congress of the World Jewellery Confederation (CIBJO) via the dedicated congress website located at: www.cibjo.org/congress-2026/ are now open. The congress will take place in Vicenza, Italy, from Friday, September 4, 2026, through Monday, September 7, 2026. The milestone event has been declared the Centenary Congress, and it will mark 100 years since CIBJO’s establishment in 1926.
World Diamond Congress from 12 to 15th July in Singapore
Singapore: As the Organizing Committee of the 41st World Diamond Congress (WDC) is finalizing the preparations for World Diamond Congress to be held for the second time in the Island City. The Congress venue has been moved from Marina Bay Sands to the iconic, eco-chic PARKROYAL COLLECTION Marina Bay hotel . “This venue offers a more intimate, sophisticated, and beautifully sustainable setting for our
India-Oman CEPA Comes Into Force
Muscat: The India-Oman Comprehensive Economic Partnership Agreement (CEPA) has come into force on 1 June 2026, ushering in a new phase in bilateral trade relations and creating fresh export opportunities across sectors including gems and jewellery, engineering goods, textiles, agriculture, pharmaceuticals and services. Signed on 18 December 2025 following negotiations launched in November 2023, the agreement grants India duty-free market
