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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
Top News
US Drops Proposed Duty on Indian Jewellery
Mumbai: The US has dropped plans to impose duties on certain jewelry items from India after the two countries reached an agreement over a controversial e-commerce tax. Earlier this year, the Department of the Treasury proposed tariffs of up to 25% on a range of Indian products, including selected gems and jewelry. This was in response to India’s digital services
Alrosa to Debut New Long-Term Agreements
Moscow: Alrosa has presented its customers with a new concept of creating a list of partners eligible for signing long-term agreements and new rough diamonds allocation principles, which will be relevant for the 2022–2024 contract period. Based on the lessons learned during the 2019 and 2020 crises, this approach takes into account the business specifics of different types of rough
De Beers' 9th Cycle Generates $430 Million
Gaborone: De Beers has reported another decline in sales revenue for the ninth sales cycle this year, as cutting factory closures in India weighed on demand. For November 8 through 23, rough diamond sales totalled $430 million, which was lower than the $492 million in sales it reported for the previous cycle. Revenues were also lower year-on-year, with ninth cycle
Mandate for Self-Regulation of Rough Import-Export
Mumbai: In line with the current government’s focus on “minimum Government and maximum governance,” by easing the procedures of doing business in India, the Govt. of India has mandated membership of The Gem & Jewellery Export Promotion Council (GJEPC) for getting the Kimberley Process Certificate for import and export of rough diamonds into India. This effectively means that GJEPC, the
Tracr Appoints Jillian Wolk as CEO
New York: Tracr has announced the appointment of Jillian Wolk as Chief Executive Officer, effective 1 May 2026. Ms. Jillian joins Tracr following senior leadership roles across the jewellery, luxury and technology sectors. Most recently, she served as Vice President, Growth & Strategic Initiatives at GIA, where she developed new services and drove diversified revenue, strengthened commercial strategy, and supported
IIGJ Presents Glimpz’26 Annual Award Ceremony
Mumbai: The Indian Institute of Gems & Jewellery (IIGJ) presented Glimpz’26, its annual exhibition and awards ceremony showcasing the graduating batch of B.A. in Gems & Jewellery Design (2023–26).Held at the Bharat Ratnam – Mega CFC Auditorium, the event brought together industry leaders, mentors, and emerging design talent on a common platform—celebrating creativity, craftsmanship, and the future of Indian jewellery.
End of Diamond Production at Diavik Mine
Toronto: Diamond production at the Diavik mine, in Canada’s Northwest Territories, came to an end last week after 23 years. It produced over 150 million carats during its lifetime, more than either of NWT’s other mines – Ekati (owned by Burgundy) and Gahcho Kue (joint venture, De Beers and Mountain Province ). The closure on Thursday, 26 March 2026, also
GJEPC to Organize ‘Design Inspirations’ on 9th April
Mumbai: The Gem & Jewellery Export Promotion Council (GJEPC) has organized ‘Design Inspirations’ event on 9th April, 2026 at Bharat Ratnam Mega CFC, Mumbai. The design seminar invites a galaxy of eminent speakers to share their insights on a wide range of topics. The workshop aims to provide the industry with relevant updates, enabling them to plan their designs and
