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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
Top News
Tracr Appoints Jillian Wolk as CEO
New York: Tracr has announced the appointment of Jillian Wolk as Chief Executive Officer, effective 1 May 2026. Ms. Jillian joins Tracr following senior leadership roles across the jewellery, luxury and technology sectors. Most recently, she served as Vice President, Growth & Strategic Initiatives at GIA, where she developed new services and drove diversified revenue, strengthened commercial strategy, and supported
IIGJ Presents Glimpz’26 Annual Award Ceremony
Mumbai: The Indian Institute of Gems & Jewellery (IIGJ) presented Glimpz’26, its annual exhibition and awards ceremony showcasing the graduating batch of B.A. in Gems & Jewellery Design (2023–26).Held at the Bharat Ratnam – Mega CFC Auditorium, the event brought together industry leaders, mentors, and emerging design talent on a common platform—celebrating creativity, craftsmanship, and the future of Indian jewellery.
End of Diamond Production at Diavik Mine
Toronto: Diamond production at the Diavik mine, in Canada’s Northwest Territories, came to an end last week after 23 years. It produced over 150 million carats during its lifetime, more than either of NWT’s other mines – Ekati (owned by Burgundy) and Gahcho Kue (joint venture, De Beers and Mountain Province ). The closure on Thursday, 26 March 2026, also
GJEPC to Organize ‘Design Inspirations’ on 9th April
Mumbai: The Gem & Jewellery Export Promotion Council (GJEPC) has organized ‘Design Inspirations’ event on 9th April, 2026 at Bharat Ratnam Mega CFC, Mumbai. The design seminar invites a galaxy of eminent speakers to share their insights on a wide range of topics. The workshop aims to provide the industry with relevant updates, enabling them to plan their designs and
Fianally US Fed Hikes Interest Rates
Washington: The Federal Reserve is raising interest rates from record lows set at the depths of the 2008 financial crisis, a shift that heralds modestly higher rates on some loans. The Fed coupled its first rate hike in nine years with a signal that further increases will likely be made slowly as the economy strengthens further and inflation rises from
Ashok Sancheti Elected President of IDCA
New York: The Indian Diamond & Colorstone Association, Inc. (IDCA) unanimously elected a new executive committee for 2016, choosing Pioneer Gems’ Ashok Sancheti as president. Rakesh Barmecha of Niru NY Ltd. has been elected vice president, Amikam’s Jay Mehta is secretary, Nirav Doshi of Jewelex NY Ltd. is treasurer and Prateek Nigam of Oriental Gemco (NY), Inc. has been picked
GJF Opposes PAN ‘Provision’
Mumbai: The All India Gems and Jewellery Trade Federation (GJF), the national trade federation for the promotion and growth of trade in Gems and Jewellery (G&J) sector across India, has expressed dissatisfaction over imposition of requirement of PAN Card on any transaction of Rs 2 lakhs and above. In a statement, GJF Chairman Mr. Sreedhar GV said, “This is not
Miners Likely to Cut Rough Prices Further: Moody’s
Mumbai: Rough diamond producers will have to slash prices further as a 28 percent slump from a peak in 2014 may be insufficient to revive demand, according to Moody’s Investors Service. Miners will remain under pressure over the next 12 to 18 months because of slowing jewelry sales and cutters and polishers’ reduced access to credit, which have caused a
