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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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WFDB Supports Work of WDC at KP Meeting
Antwerp: A team of World Federation of Diamond Bourses (WFDB) officials will be participating on behalf of the World Diamond Council (WDC) in events during the Plenary meeting of the Kimberley Process Certification Scheme (KPCS) which takes place in Dubai, UAE, from November 13-17. Other WFDB members will be attending the five days of meetings and discussions as observers. The
India Cancels 500 & 1000 Rupee Notes
New Delhi: India’s Prime Minister Mr. Narendra Modi, while addressing the country tonight, delivered a speech first in Hindi and then in English. The PM met a few hours ago with all three military chiefs amid major ceasefire violations by Pakistan in Jammu and Kashmir. Here are the highlights from his address: Some important decisions and some serious issues to
ETPs Continue to Drive Gold Demand in Q3 2016
Mumbai: Global gold demand reached 993 tonnes (t) in the third quarter of 2016, a fall of 10% compared to the same period last year, according to the World Gold Council’s (WGC) latest Gold Demand Trends report. Net inflows into Exchange-traded products (ETPs) helped drive a sharp increase in investment demand, but this was not enough to offset falls in
GJF Meets Maharashtra Finance Minister on GST
Mumbai: The apex body for domestic gems and jewellery industry All India Gems and Jewellery Trade Federation (GJF) Director Mr. Ashok Minawala and delegates from Maharashtra, met Maharashtra Finance Minister Mr. Sudhir Mungantiwar at Nagpur and submitted their representation on GST. GJF has proposed GST rate of 1.25% for the gems & jewellery sector. GJF sought minimal GST rates even
Men of Platinum Expands Collection with New Designs
Mumbai: Platinum Guild International (PGI) India has unveiled a new Men of Platinum collection featuring chains, pendants, bracelets and rings designed for men at different stages of their journey. Endorsed by Rohit Sharma and Anirudh Ravichander in the brand’s new campaign, the collection brings to life a central belief: enduring success is forged through character—the conviction to forge your own
De Beers and Botswana Extend Partnership with Letsile Tebogo
London: De Beers Group and the Government of the Republic of Botswana today announced the extension of De Beers’ partnership with Olympic champion and Botswana sporting icon Letsile Tebogo. Originally launched in January 2025, when Tebogo was appointed a De Beers Global Ambassador, the partnership has now been expanded into a three-year programme of work between De Beers and the
Divine Solitaires, SGL Launch ‘Know Your Diamond’ Zone
Mumbai: The initiative equips Divine Solitaires’ reputed partner jewellers with advanced screening technology that can help verify key characteristics of diamonds,including whether a diamond is natural or laboratory-grown, checking laser inscriptions andverifying Hearts & Arrows (H&A). The screening machines will be provided as inventory to premium Divine Solitaires partner jewellers, enabling consumers to access the technology free of charge at
Sky Gold & Diamonds Acquires Purvi Gems
Mumbai: Sky Gold & Diamonds Ltd., (Sky Gold) one of India’s leading jewellery manufacturers and exporters, has successfully completed the acquisition of 100% equity shares of Purvi Gems & Jewellery (India) Private Limited, a company engaged in the manufacturing of uncut and precia jewellery and related products. Following the completion of the acquisition on October 7, 2026, Sky Gold is
