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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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IIJS Signature 2022 is Postponed
Mumbai: Owing to the prevailing pandemic scenario in India, the IIJS Signature show scheduled from January 6- 9, 2022 at the Jio World Convention Centre, Mumbai has been postponed. A communique issued by India’s Gem & Jewellery Export Promotion Council (GJEPC) says that the Council has in place all requisite permissions to organise the show following Covid appropriate guidelines, Based
Some Exemptions from Mandatory Hallmarking
Mumbai: In a major relief to the industry, the Govt. through the notification dated 24th December 2021, has issued guidelines on exemptions given in Hallmarking of Gold Jewellery and Gold Artefacts including on any article meant for international exhibitions; any article meant for domestic business-to-business exhibitions, approved by the Government; and special categories of jewellery, namely Kundan, Polki and Jadaau. This announcement has
Jewelers of America Postpones Gem Awards
New York: The Jewelers of America (JA) trade group has pushed off its 2022 GEM Awards gala due to the rapid spread of the Covid-19 Omicron variant across the US. The event, which was due to take place on January 14 in New York, is now scheduled for March 18 at the same location, the JA said Wednesday. “With Omicron moving
10th Sales Cycle of De Beers Generates $332 Mln.
Gaborone: De Beers reported sales of $332 million for the 10th and final sales cycle of 2021 compared with sales of $438 million for the preceding 9th cycle and $452 million in the 10th cycle of 2020. Mr. Bruce Cleaver, CEO of the De Beers Group, said, “Rough diamond demand and midstream sentiment continued to be positive in the final
India’s Rough Imports Inceased by 16.19%
Mumbai: India’s cut & polished diamond exports for month of June 2014 has registered $1,469 million (2,695,000 carats), showing a decrease of 0.66 percent against $1,478.81 million (2,806,000 carats) during June 2013, according to the provisional figures announced by the Gem & Jewellery Export Promotion Council (GJEPC) of India. For the period of April 2014 to June 2014 too, cut
3 Carat Synthetic Largest-Ever Grown Gem
New York: Pure Grown, the man-made diamond company formerly known as Gemesis, is selling a 3 ct. K SI stone—which it calls the largest colorless diamond ever produced by nonnatural means, reports jckonline. Lisa Bissell, the Fabrikant veteran recently appointed president and CEO of the company, says that she has every intention of selling the gem, which has a report
Zimbabwe Imposes Embargo on Rough Export
Harare: The Zimbabwean government has reportedly banned the export of rough diamonds to ensure the country realises maximum value for its gems. NewsDay quoted Mines and Mining Development minister Walter Chidhakwa as saying that the issue was extensively discussed and Cabinet agreed and directed that “we implement the new institutional programme”. He said Harare had recognized that it was “not
GJF Launches Monthly ‘G&J Times’
Mumbai: The All India Gems and Jewellery Trade Federation (GJF), the national trade federation for the promotion and growth of trade in Gems and Jewellery (G&J) Industry across India, hosted an exciting 6th edition of its signature GJF NITE 2014 in Mumbai. The fun filled, entertaining and musical fashion extravaganza event, presented by R. M. Jewellery and powered by CVM,
