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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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GJC Submits Jeweller-Integrated Framework for GMS
Mumbai: All India Gem and Jewellery Domestic Council (GJC) has been actively engaging with senior officials of the Reserve Bank of India (RBI) and the Ministry of Finance (MoF) to advance a comprehensive revamp of the Gold Monetization Scheme (GMS). GJC has submitted a refined, jeweller-integrated framework for GMS, developed through structured stakeholder consultations across the banking, refining, and jewellery sectors. The
India’s New Shopping Mindset, Before You Buy Gold, #PehlaCheckIAGES
Mumbai: Indian consumers are being given the choice to make more informed decisions while buying gold. The efforts of Indian Association of Gold Excellence and Standards (IAGES), a self-regulatory organization created by the gold industry, is beginning to see the fruits of the groundwork it has put, into encouraging a shift in the gold-buying mindset of people with its pan
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.
Collectors & Connoisseurs Shine at Argyle Tender
Perth: Rio Tinto’s spectacular 2015 Pink Diamonds Tender collection of 65 rare pink and red diamonds from its Argyle diamond mine has delivered an exceptional result, reflecting global demand and sustained price growth. The Argyle Pink Diamonds Tender, known as the ‘Connoisseurs Collection” weighing a total of 44.14 carats and including four Fancy Red diamonds, was internationally popular with winners
Sarine Opening Allegro Service Center in Jaipur
Jaipur: Sarine Technologies Ltd has announced the opening of its first Allegro™ service center in Jaipur, India. The system provides automated gemstone planning and shaping services. The Allegro™ was developed by Galatea Ltd, Sarine’s wholly-owned subsidiary. The system provides automated, highly accurate evaluation, planning and precise shaping of rough gemstones. Using 3D laser mapping technology, it measures the rough gem
Diamonds May Be Common, Deep in the Earth
New York: Diamonds are not exactly as rare as you may think. New research suggests that they can form through a previously unknown reaction, and they may be widespread in the rocks far beneath our feet. “Diamond formation in the deep Earth, the very deep Earth, may be a more common process than we thought,” said Johns Hopkins University geochemist
RBI Issues Guidelines for Gold Schemes
New Delhi: The Reserve Bank of India (RBI) on Friday issued detailed guidelines on the sovereign gold schemes aimed at curtailing the physical demand for the yellow metal. Prime Minister Narendra Modi on Thursday launched the Sovereign Gold Bond (SGB), Gold Monetisation (GMS) and the Indian Gold Coin (IGC) schemes. The SGB scheme, which will be issued by the government
