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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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IIJS Bharat Tritiya 2026 Ends with Great Success
Bengaluru: The 4th edition of IIJS Bharat Tritiya 2026, organized by India’s Gem & Jewellery Export Promotion Council (GJEPC), concluded on a triumphant note at the Bengaluru International Exhibition Centre (BIEC), solidifying its position as India’s third-largest B2B jewellery exhibition. The show witnessed a massive scale-up, hosting over 1,100 exhibitors and 1,900 stalls, while attracting 15,000 trade buyers from 500
GJEPC Team Meets Nirmala Sitharaman
New Delhi: A GJEPC delegation met Union Finance Minister Mrs. Nirmala Sitharaman in New Delhi on 27th March 2026 to discuss matters concerning the industry. The Council delegation, led by Mr. Kirit Bhansali, Chairman, GJEPC, also included Mr. Shaunak Parikh, Vice Chairman, GJEPC; Mr. Sabyasachi Ray, Executive Director, GJEPC and Mr. K.K. Duggal, Director – Policy, GJEPC. A key focus
Gemfields Releases 2025 Audited Report
London: Gemfields Group Limited (GGL) recently announced its audited Annual Report for the year ending December 31, 2025, reporting total revenue of $ 135.1 million, down from $ 199.4 million in 2024. The fall in revenue was credited to disruptions in the emerald market during the first half of the year and reduced recovery of premium-grade rubies at Montepuez Ruby
41st World Diamond Congress Announces Programme
Singapore: The Organising Committee of the 41st World Diamond Congress, to be held July 12-15, 2026, in Singapore, announced its Congress programme. The Congress will include five discussion forums or panels. They are: The World Diamond Congress is the diamond industry’s foremost global gathering, held biennially by the World Federation of Diamond Bourses (WFDB) and the International Diamond Manufacturers Association
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
