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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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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.
India and New Zealand Sign Strategic FTA
Mumbai: India’s Gem & Jewellery Export Promotion Council (GJEPC) has welcomed the signing of the India–New Zealand Free Trade Agreement (FTA) on 27 April 2026, calling it a timely and strategic step that opens a high-potential market for Indian gem and jewellery exporters. India’s current gem and jewellery exports to New Zealand stand at approximately USD 16.61 million. With zero-duty
Suresh Hathiramani Elected as Chairman of WDHB
Singapore: The World Diamond Heritage Board (WDHB) has announced the appointment of Mr. Suresh Hathiramani as Chairman and Mr. Alex Popov as Vice-Chairman, of the Selection Committee of the World Diamond Heritage List (WDHL). A Historic Initiative for the Diamond Industry: The World Diamond Heritage List is an initiative designed to identify and document the 100 diamonds that have shaped
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
