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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
Distinguished Women of the G&J industry Honored with Golden Girls Awards
Mumbai: The India Bullion & Jewellers Association Ltd. (IBJA), in association with Heera Zhaveraat, the B2B trade magazine for the global Gem & Jewellery industry, recently hosted the 4th Golden Girls Award (GGA) in Mumbai. The Golden Girls Award (GGA) provided a platform to celebrate and recognize the outstanding accomplishments of women entrepreneurs in the industry, highlighting their persistent dedication
IAGES Expands Network with 50+Accredited Partners
Mumbai: The Indian Association for Gold Excellence and Standards (IAGES), a Self-Regulatory Organization (SRO) established by and for the Indian gold industry has achieved the 50 accredited members milestone, reshaping the gold sector to become more consumer-friendly and future-ready. Some of India’s leading gold retailers like Senco Gold & Diamonds, PN Gadgil Jewellers, Kalamandir Jewellers and Waman Hari Pethe Jewellers
Karnataka Minister Invited as Chief Guest at IIJS Bharat Tritiya
Bengaluru: Mr. M.B. Patil, Hon’ble Minister for Large & Medium Industries, Government of Karnataka, has been invited as Chief Guest for IIJS Bharat Tritiya 2026. The show is scheduled from 21 to 23 March 2026 in Bengaluru at the Bangalore International Exhibition Centre (BIEC). The invitation was extended by Mr. Nirav Bhansali, Co-Convener – National Exhibitions, GJEPC. The meeting was
Congolese Diamonds Tender Gets 40% Higher Sales
Antwerp: From 16 to 20 February, the Congolese diamond company SACIM SARL organised a particularly successful diamond tender in Antwerp. More than 288,000 carats of rough Congolese diamonds were sold at prices that were on average over 40% higher than those achieved in other, competing diamond trading centres. The result once again underlines Antwerp’s unique position as an international hub for rough diamond trading
NCDIA Hosts Global Color Diamond Con. Series
Mumbai: The Natural Color Diamond Association (NCDIA) plans to conduct a series of conferences in Australia, London, Antwerp, Israel and Hong Kong to build consumer awareness about the diamond category, the organization said in a statement. The series started earlier this month with events in New York on October 2 and Mumbai on October 8 covering the topics rarity and
De Beers Relocating Toronto HQ to Calgary
Toronto: In a move that is part of a restructuring effort to more efficiently support its Canadian diamond mines, De Beers Canada will close its Toronto headquarters and relocate to Calgary, Alberta, by the end of next June. “One of the things that accelerated this is the current state of the diamond market,” said De Beers Canada spokesperson Tom Ormsby.
Jean-Marc Lieberherr is Chairman of DPA
Gaborone: The Diamond Producers Association (“DPA”) has announced the appointments of Jean-Marc Lieberherr as Chairman and Stephen Lussier as Vice-chair, both with immediate effect. The DPA has also announced the appointment of Sally Morrison as Managing Director of Marketing, with effect from 19 October 2015. Jean-Marc is Managing Director of Rio Tinto’s diamond business, while Stephen is Chief Executive Officer
Finally, Murowa Diamonds Closes Down
Harare: RioZim Ltd., which controls a 22 percent shareholding in Murowa Diamonds, has announced that it is mothballing the company and the Murowa mine, located in Zimbabwe’s Midlands. The mine was technically grounded in the first quarter of this year, but it was thought that production would recommence at some point in the last quarter of the year. In June,
