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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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Maryam Al Hashemi to Steer KP Committee on Participation & Chairmanship
Dubai: DMCC confirmed that Maryam Al Hashemi, Senior Director of Precious Stones and Metals at DMCC and the UAE KP Director, has been appointed Chair of the Kimberley Process (KP) Committee on Participation and Chairmanship (CPC). The CPC is a vital body within the Kimberley Process, responsible for evaluating new participants, reviewing compliance matters, and assessing Vice-Chair candidates. Its recommendations
MS Dhoni Reveals His Most Cherished Platinum Moments
Mumbai: Men of Platinum, the men’s jewellery brand from Platinum Guild International (PGI) India, brought its highly anticipated #MomentWithMahi campaign to a thrilling close with an exclusive fan meet-and-greet with MS Dhoni at the iconic Taj Lands End, Mumbai. This one-of-a-kind experience was the culmination of the brand’s festive purchase programme — a rare reward for select consumers who purchased
GJEPC Hails the India-US Trade Agreement
Mumbai: India’s Gem & Jewellery Export Promotion Council (GJEPC) has hailed the landmark India-U.S. trade agreement as a “vital relief measure for India’s gem and jewellery sector”, which faced severe pressure from escalating U.S. tariffs. GJEPC extends its deepest appreciation to the Hon’ble Prime Minister Mr. Narendra Modi, the Hon’ble President of USA Mr. Donald Trump, the Hon’ble Commerce &
Kirit Bhansali Applauds the Union Budget
Mumbai: India’s Finance Minister Mrs. Nirmala Sitharaman has presented the Union Budget for 2026-27 which is hailed by the Gem & Jewellery Export Promotion Council (GJEPC). Through an official Press Release its Chairman Mr. Kirit Bhansali says: “We thank the Government for a positive, growth-focused Budget that addresses key bottlenecks and gives fresh momentum to India’s gems and jewellery sector.
WDM to Present Workshop During VICENZAORO
Hong Kong: The World Diamond Mark Foundation (WDM), in cooperation with Fiera di Vicenza, Europe’s leading jewellery trade fair organizer, will hold a seminar entitled “What consumers expect retailers to know about diamonds,” during the upcoming VICENZAORO January 2016 fair that will be held from January 22 to 27. The seminar will take placeon January 25th, from 10.00 – 11.00
Borsa İstanbul and WDM Sign Cooperation
Hong Kong: Borsa İstanbul, the only bourse regulated under Turkish Capital Market Law, and the World Diamond Mark Foundation (WDM) have signed an agreement that cements the cooperation between Borsa İstanbul and WDM, with the specific objective to institutionalize diamond trading in Turkey and in other key markets by means of Borsa İstanbul’s extensive networking capabilities and ready access to
Gold Bonds Priced @ INR 2600 Per Gram
New Delhi: The Reserve Bank has fixed the public issue price at Rs 2,600 per gram for the sovereign gold bonds, for which applications will be accepted from today. The second tranche of sovereign gold bonds and the pricing has been made more attractive as compared to the first tranche when the issue price was Rs 2,684 per gram. The
Rio Tinto Announces Total Salary Freeze
London: Rio Tinto Group will freeze salaries for 2016 as the world’s second-biggest mining company warned that it sees no signs of respite in the commodities rout that’s eroded profits and threatened dividends for producers, reports Bloomberg News. The freeze applies from the chief executive officer downward, Sam Walsh said in an e-mail to staff, a copy of which was
