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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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Piyush Goyal Gives ₹270 cr for SEEPZ Infrastruture
Mumbai: Mr. Piyush Goyal, Minister of Commerce & Industry, Consumer Affairs & Food & Public Distribution and Textiles, Govt. of India, visited the SEEPZ in Mumbai yesterday . Hon’ble Minister interacted with GJEPC and SEEPZ leadership along with Jewellery Exporters and approved ₹200 Crore for upgrading the SEEPZ infrastructure and ₹70 Crore for development of a Mega Common Facility Centre
GJEPC Hosts “Vanijya Utsav” Export Conclave
Mumbai: India’s Gem & Jewellery Export Promotion Council (GJEPC) hosts “Vanijya Utsav”, an export conclave happening on the 21st and 22nd September in Mumbai. It was inaugurated by Mr. Raosaheb Patil Danve, Hon’ble Minister of State (Railways, Coal & Mining), Govt. of India; Mr. Subhashji Desai, Hon’ble Minister of Industries, Mining & Marathi Language, Govt. of Maharashtra; Mrs. Aditi Tatkare,
WDC Launches Upgraded System of Warranties
New York: The World Diamond Council (WDC) has marked the 40th anniversary of the United Nations 2021 International Day of Peace with the official public launch of its Upgraded System of Warranties (SoW). WDC President Edward Asscher said, “For the International Day of Peace 2021, the United Nations set the theme for ‘recovering better for an equitable and sustainable world,’
KP Plenary 2021 to be Held in Hybrid Format
Moscow: The Kimberley Process (KP) Plenary meeting from 8th-12th November 2021 will have a hybrid format, according to the Russian Federation, the current KP Chair. The Plenary will take place both online and in-person – for those who will be able to visit Moscow (subject to national Covid-19 restrictions and quarantine rules applied when entering Russia). Russia’s Ministry of Finance
CIBJO Backs ‘Synthetic’ Terminology for Lab Growns
Vicenza: Meeting in Vicenza, Italy, on September 7, 2026, after the conclusion of the Centenary CIBJO Congress, the organization’s Board of Directors approved a recommendation by its Diamond Commission and Coloured Stone Commission that the Blue Books be revised so that the word “synthetic” be the sole descriptor used to accurately and scientifically define a created product with the same chemical
IGM Appoints Nirakar Chand as MD of BullionX
Mumbai: India Gold Metaverse (IGM) today announced the appointment of former CEO of Diamond India Ltd., Mr. Nirakar Chand, as the Managing Director of its bullion market vertical, BullionX™, which is a technology-enabled ecosystem for modern bullion markets. Earlier in his career, Mr. Chand had spent 22 years at State Bank of India (SBI) — 6 years in Bullion and
CIBJO Unveils Artworks of Reena Ahluwalia Celebrating Centenary Year
Vicenza: As a highlight of the opening day of the 2026 CIBJO Congress, that began on the 4th September, 2026 in Vicenza (Italy), two dedicated creations by the noted Canadian visual artist Reena Ahluwalia, celebrating the Centenary Year of the World Jewellery Confederation (WDC) were unveiled. Both creations were donated to the collection of the Museo del Gioiello –the jewellery
Senco Gold with Olocker Provide Jewellery Insurance
Mumbai: Senco Gold & Diamonds has partnered with Olocker, India’s first dedicated jewellery insurance platform, to offer free jewellery insurance to its customers, protecting purchases against risks such as snatching, robbery, and housebreaking. On the surface, it’s a simple value-add: buy jewellery from Senco, get it insured, at no extra cost. But the thinking behind it is more personal —
