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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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Belgian Government Adopts ‘Carat Tax’
Antwerp: The Belgian Parliament has officially adopted the ‘Diamond Regime’, commonly known as the ‘Carat Tax’, as the new fiscal system for the Antwerp diamond industry. The new system stipulates that companies will no longer be taxed on the basis of their profit but on a fixed percentage of their turnover – thereby eliminating complicated discussions with tax authorities about
U.S. Fed Raises Rates by 25 Basic Points
New York: The US Federal Reserve on expected lines raised key interest rates by 25 basis points to between 0.50 per cent and 0.75 per cent on Wednesday, its second such hike since last December. The Federal Open Market Committee (FOMC), which concluded its two-day meeting, said that the inflation expectations have increased “considerably” and forecast a steeper path for
Retail Investment Market Poised for Growth: WGC
Mumbai: The global gold bar and coin market has boomed in the past 10 years. In 2006 global demand was 430t; by 2015 it had more than doubled to 1,051t. In monetary terms the growth is even more dramatic, surging from just under US$10bn to almost US$40bn, says the latest study report published by the World Gold Council (WGC). Several
Synthetic Super-Hard Diamond Developed
Mumbai: Scientists have created synthetic diamonds that are harder than the regular ones and may help cut through ultra-solid materials on mining sites. Nano-sized Lonsdaleite is a hexagonal diamond only found in nature at the site of meteorite impacts. “This new diamond is not going to be on any engagement rings. You’ll more likely find it on a mining site
Diamonds for Development Fund Receives Initial Funding
Gaborone: The Government of the Republic of Botswana and De Beers Group yesterday announced that De Beers Group has transferred its initial contribution of BWP1 billion to the Diamond for Development Fund, marking a major milestone in the progress of the Fund and its mandate to support Botswana’s long-term economic diversification. The disbursement follows the establishment of the Fund’s governance
De Beers Reports Lower Q3 Output
London: De Beers reported an 11% year-on-year decrease in rough diamond production to 6.8-million carats for the quarter ended September 30, primarily driven by planned plant maintenance at Orapa, in Botswana, and a slowdown at Venetia, in South Africa, ahead of a planned two-year production pause. Operational Performance: De Beers notes that rough diamond production was 11% lower at 6.8
New FEMA Guidelines to Exporters Explained
Mumbai: India’s Gem & Jewellery Export Promotion Council (GJEPC), in association with IndusInd Bank, organized a webinar on 16 October 2026 to explain the revised Foreign Exchange Management Act (FEMA) guidelines and their implications for the gem and jewellery trade. Prakash Kumar Rath, Head – Gems, Jewellery and Diamond Division, IndusInd Bank, addressed key changes under the revised framework, which
India & France Explore New Frontiers in Luxury Jewellery
Paris: India’s Gem & Jewellery Export Promotion Council (GJEPC) brought 17 curated Indian fine jewellery companies to Paris, with the India–EU trade agreement lending fresh momentum to business partnerships, creative exchange and brand-building across France’s luxury ecosystem. The pitch was partnership, not just supply. India is looking to deepen its place in the global luxury conversation—not simply as a leading
