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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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Antwerp’s Diamond Trade Increased by 20% in Q1
Antwerp: According to figures from the Antwerp World Diamond Centre (AWDC), the total volume of diamonds traded in Antwerp increased by nearly 20% in the first quarter of 2026 compared to the same period last year. The import of rough diamonds in particular saw strong growth, with a 35.7% increase in volume. In terms of total trade value, the trading
India Govt. Includes Jewellery in FTWZ
New Delhi: In a significant policy clarification, the Government of India has brought jewellery under the ambit of Free Trade Warehousing Zones (FTWZ), extending the scope of the existing framework governed by the SEZ Rules, 2006. Under a Circular dated 3rd March 2016, FTWZ units were already permitted to undertake storage and vaulting of precious commodities such as gold, silver,
Sennes Launches its 1st Exclusive LGD Store in Noida
Noida: Backed by the legacy and trust of Senco Gold & Diamonds, Sennes – Senco’s lab-grown diamond (LGD) focused lifestyle brand – announced the launch of its first exclusive store in Noida at Gaur City Mall. This marks Sennes’ 12th store in the country and its debut in the Noida market, further strengthening its presence across key urban centres. Positioned
Botswana Leadership Takes its Place on The World Stage
Gaborone: The Government of Botswana in collaboration with the Diamond Sector, has launched the 60 Years of Diamond Leadership Initiative and unveiled the diamond embedded medals for the Debswana World Athletics Relays Gaborone 26 at the Botswana National Museum. This moment marks a defining shift in Botswana’s diamond journey: from resource extraction to global reputation; from mineral value to public
China Gets Rough Diamond Exchange
Beijing: Shenzhen Rough Diamond Exchange (SRDE), a secure diamond storage, sorting and viewing facility in the Chinese city, has received final approval to operate. Foreign suppliers will be able to ship diamonds to the new warehouse in the Luohu district of Shenzhen duty-free. Local Chinese companies will then be able to view and purchase the goods through the Shanghai Diamond
Dominion to Hold Viewings of Diamonds in Mumbai
Mumbai: Dominion Diamond Marketing N.V., a subsidiary of Dominion Diamond Corporation, will conduct viewings of its rough diamond sales parcels at the Special Notified Zone (SNZ) located within the Bharat Diamond Bourse in Mumbai beginning in February 2016, reports JNA. Viewing dates for 2016 are as follows: 1-6 February; 7-12 March; 4-9 April; 23-28 May; 20-25 June; and 1-6 August.
De Beers Appoints Nimesh Patel as CFO
Gaborone: De Beers has appointed Nimesh Patel as chief financial officer, succeeding Gareth Mostyn who will become executive head of strategy and corporate affairs in the new year. Patel was previously group head of corporate finance at De Beers parent company Anglo American. Prior to this, he spent 15 years in investment banking at JP Morgan and as a managing
India Can Grow at 9% for a Decade
New Delhi: India has the potential to grow at 9 per cent for a decade and 8 per cent in subsequent years if the country takes bold reform measures, eminent economist and Harvard University professor Lawrence Summers said on Saturday. “Except India, major emerging economies seem to be losing momentum… I think if India maximizes its potential, it could grow
