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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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De Beers Aggressively Hikes Diamond Prices
Gaborone: De Beers pushed through one of its most aggressive diamond price increases in recent years as the world’s biggest producer of the stones cashes in on a buying frenzy for uncut gems, reports aljazeera.com. De Beers raised prices by about 8% at its first sale of the year, according to people familiar with the situation who asked not to
GJEPC Launches India Jewellery Park Mumbai
Mumbai: India’s Gem & Jewellery Export Promotion Council (GJEPC) has announced launch of India Jewellery Park Mumbai (IJPM). An Iconic, State-of-the-Art Architecture, IJPM is envisaged to house more than 1,000 Gems and Jewellery units on a sprawling 21.3-acre plot of land in Mahape, Navi Mumbai. IPJPM would also be a welcome change for local handmade jewellery workers and factories in
Framework for Operationalizing Gold Exchange
Mumbai: The Securities & Exchange Board of India (SEBI) in its meeting held on September 28, 2021 approved the framework for Gold Exchange and SEBI (Vault Managers) Regulations, 2021. Government of India vide Gazette notification S.O. 5401 (E) dated December 24, 2021, has declared “electronic gold receipts” as ‘securities’ under Section 2(h)(iia) of the Securities Contracts (Regulation) Act 1956, and vide
1 Cr. Jewellery Pieces Hallmarked with HUID in Dec
Mumbai: Numbers say it all. The industry has welcomed and adapted mandatory gold jewellery hallmarking wholeheartedly. There has been consistent progress in hallmarking since the Government of India made gold jewellery hallmarking mandatory in mid-June 2021. There have been major advances in every aspect of hallmarking. About 1 crore pieces are hallmarked with HUID last month. Consumers through BIS Care app, can view
De Beers Diamond Output Rises 17% in Q1 2026
London: De Beers Group reported a 17% rise in rough diamond production to 7.1 million carats in Q1 2026, driven by higher volumes from Canada and South Africa. The increase was operational. Canada recorded the sharpest growth, with production rising to 1.0 million carats, up 163% on planned ore release from Gahcho Kué. South Africa output surged 53% to 0.7
IIGJ Udupi Centre Inaugurated by India’s FM
Udupi, (Karnataka): Marking a significant milestone in India’s gem and jewellery skill development landscape, the Indian Institute of Gems & Jewellery (IIGJ), Udupi was unveiled yesterday as a new centre of excellence by India’s Finance Minister (FM) Mrs. Nirmala Sitharaman, reaffirming the government’s continued focus on skilling, innovation and employment generation for the sector. The ceremony was attended by Mr.
India and New Zealand Sign Strategic FTA
Mumbai: India’s Gem & Jewellery Export Promotion Council (GJEPC) has welcomed the signing of the India–New Zealand Free Trade Agreement (FTA) on 27 April 2026, calling it a timely and strategic step that opens a high-potential market for Indian gem and jewellery exporters. India’s current gem and jewellery exports to New Zealand stand at approximately USD 16.61 million. With zero-duty
Suresh Hathiramani Elected as Chairman of WDHB
Singapore: The World Diamond Heritage Board (WDHB) has announced the appointment of Mr. Suresh Hathiramani as Chairman and Mr. Alex Popov as Vice-Chairman, of the Selection Committee of the World Diamond Heritage List (WDHL). A Historic Initiative for the Diamond Industry: The World Diamond Heritage List is an initiative designed to identify and document the 100 diamonds that have shaped
