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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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De Beers Launches Auction Platform for Polished
Gaborone: De Beers launched an online trading service that enables third parties to sell polished diamonds to other businesses on the miner’s existing auction platform. The pilot service is targeted at single stones weighing more than 5 carats or those with a fancy color, the company said. The initiative, open to midstream industry members, represents an expansion of a rough
India’s Gold Imports Down by 55% in H1
New Delhi: Gold imports dipped by about 55 per cent to $7.88 billion during the first half of 2016-17, which is expected to keep a lid on the current account deficit, reports The Economic Times. The sliding prices of the precious metal in global and domestic markets are seen to be at work. Gold imports stood at $17.42 billion in
India Tightens Norms of Gold Imports
New Delhi: India’s Director General of Foreign Trade (DGFT) has tightened norms for export houses to import gold in their capacities as nominated agencies. The public notice to this effect issued by the DGFT has said that for getting permission as a nominated agency for importing gold for domestic purpose, only exports from domestic tariff areas would be counted and
US Fed Keeps Interest Rates Unchanged Again
The Federal Reserve left interest rates unchanged Wednesday, six days before Americans choose a new president, but hinted again that it would likely raise rates soon. The Fed said that the case for rate hike has ‘continued to strengthen’ but that it had decided to wait for further evidence of progress toward its objectives. Most analysts and investors expect a
Harshvardhan Rane is the New Face of Ti22 by Aham
Mumbai: Senco Gold & Diamonds has announced actor Harshvardhan Rane as the face of Ti22 by Aham, its latest titanium, gold and diamond collection under its dedicated men’s jewellery brand, Aham. Reflecting the evolving expression of modern masculinity, Ti22 by Aham brings together the strength and lightness of titanium with the timeless appeal of gold and diamonds. With Harshvardhan Rane at
Let this Rakshababdhan Shine Brighter with Platinum
Mumbai: Rakshabandhan has always been a celebration of the quirks, chaos, shared memories and quiet strength that define sibling relationships. Over the years, gifting has become an integral part of the festival – a way to express love, create new memories and celebrate the bond that grows stronger with time. As gifting becomes more personal and thoughtful, platinum jewellery is emerging as a distinctive choice for
GJEPC Webinar Explores Niryat Protsahan Support Under Export Promotion Mission
Mumbai: India’s Gem & Jewellery Export Promotion Council (GJEPC) organized a webinar recently to familiarize exporters with ‘Niryat Protsahan’ schemes under the Government of India’s Export Promotion Mission (EPM), with a focus on affordable finance, e-commerce exports and market diversification. The session featured Ms. Trupti Mhatre, General Manager, Export-Import Bank of India (Exim Bank); Mr. Sabyasachi Ray, Executive Director, GJEPC
Okavango Diamond Co. Appoints Yoram Dvash as Chairperson
Gaborone: Botswana’s state-owned rough diamond marketing firm, Okavango Diamond Company (ODC), has appointed former World Federation of Diamond Bourses (WFDB) president Yoram Dvash as chairperson of its board of directors. Dvash succeeds Gape Kaboyakgosi, who stepped down in November after leading the board for five years. Dvash brings deep industry leadership to the role, having headed the WFDB from 2020
