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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 $2 million and barring the
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India’s G&J Exports Increased 16% in Oct
Mumbai: India’s gem and jewellery (G&J) exports witnessed a 16% growth in October 2021 versus 2019, owing to strong demand from key export destinations, especially the US. Overall gross exports of Gems & Jewellery (G&J) in October amounted to US$ 4170.59 million (Rs. 31241.090 crore) as compared to US$ 3610.07 million (Rs. 25647.06 crore) for the same period in 2019.
The Golden Thread: A Documentary on Gold Launched
Mumbai: The World Gold Council (WGC) has launched its first immersive documentary series showcasing gold’s impact on humanity’s past, present and future. A five-episode series explores the metal’s history, cultural relevance and technological uses. Featuring experts and stories from around the world, exploring gold’s world-changing impact as an engineering super-material, biological instrument, symbolic creative medium and economic pillar. It is
De Beers Announces A New Global Campaign
Mumbai: De Beers announces a new global campaign centred on commitments to ourselves, to one another and the wider world. It marks a fresh, purpose-led brand strategy and new chapter in the company’s 133 year long history. The statement ‘I do.’ is one of the most significant and time-honoured expressions of intent. Deeply emotional and instantly life-changing, it is an
CIBJO Releases Ethics Commission Special Report
Milan: With the 2021 Virtual CIBJO Congress in its second week, the tenth and last of this year’s CIBJO Special Reports has been released. Prepared by CIBJO’s Ethics Commission, headed by Tiffany Stevens, and co-authored by Miya Owens, Associate Counsel at the Jewelers Vigilance Committee (JVC) in the United States, the report looks at the growing challenge of collecting, securing
IFSCA Permits GJEPC RCMC Holders to Import Gold, Silver Through IIBX
Mumbai: The International Financial Services Centres Authority (IFSCA), the unified regulator overseeing financial activities in GIFT City, has accepted key recommendations made by the Gem & Jewellery Export Promotion Council (GJEPC), allowing holders of a valid Registration-cum-Membership Certificate (RCMC) to access bullion imports through the India International Bullion Exchange (IIBX). Under a revised circular issued on 15 June 2026, valid
A Webinar on IIBX Gold Supply Mechanism
Mumbai: India’s Gem & Jewellery Export Promotion Council (GJEPC), in association with IIBX, is organizing a webinar on “IIBX Gold Supply Mechanism for GJEPC Members and SEZ Units” on 19th June 2026 to provide insights into the gold procurement framework through the India International Bullion Exchange (IIBX). The webinar is scheduled from 3 pm onwards. Mr. Ashok Kumar Gautam, MD
Central Banks Set to Step up Gold Buying over the Next Year
London: The World Gold Council’s (WGC) annual Central Banks Gold Reserves Survey reveals that 89% of reserve managers expect global central bank gold holdings to continue increasing over the next 12 months. With gold recently overtaking US government bonds as the top reserve asset, the findings point to continued momentum in central bank demand for gold. That confidence is also
India’s G&J Exports Stood at US$ 4.27 Bln in April–May 2026
Mumbai: India’s gem and jewellery exports stood at US$ 4.27 billion (Rs. 40,398.97 crore) during April–May 2026 as compared to US$ 4.55 billion (Rs. 38,848.42 crore) during the corresponding period of the previous year. While overall exports declined by 6.03% in dollar terms, they registered a growth of 3.99% in rupee terms. The figures are provided by India’s Gem &
