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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
World’s Largest Blue Topaz to be Exhibited
London: A flawless blue topaz gemstone, said to be the largest of its kind, is set to go on display at London’s Natural History Museum. The Ostro stone weighs around 2 kg (4.4 lb) and will be exhibited from Oct. 19, on permanent loan from British entrepreneur and philanthropist Maurice Ostro, the museum said. Its value was not disclosed. “The
Gemfields Announces Auction Results
Mumbai: Gemfields plc has announced the results of its auction of predominantly commercial quality rough emerald extracted by Kagem Mining Ltd (which is 75% owned by Gemfields and 25% by the Government of the Republic of Zambia) in Zambia. The auction also included higher quality amethyst from Kariba Minerals Ltd in which Gemfields has a 50% interest, with the balance
WFDB Sets out Plans to Tackle Industry Challenges
Antwerp: The World Federation of Diamond Bourses’ (WFDB) Executive Committee discussed the major challenges facing the global industry at its meeting in London this week. The gathering focused on the issues of financing, the need for the trade to demonstrate clearly that it is self-regulating, synthetic stones, and the success of the launch of the Young Diamantaires initiative. “Diamond companies,
Generic Promotion of Diamonds Launched in India
Mumbai: The Gem & Jewellery Export Promotion Council (GJEPC), apex Gem & Jewellery body of India and De Beers, world’s leading diamond company have jointly announced the launch of the much needed generic promotion campaign for diamonds. With this campaign, the industry has started its effort to revive the demand for diamonds and diamond jewellery. The industry has witnessed a
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
GJEPC Partners with The Leela: Offers Benefits to Members
Mumbai: India’s Gem & Jewellery Export Promotion Council (GJEPC) has entered into a strategic alliance with The Leela Palaces, Hotels and Resorts to provide exclusive hospitality benefits to its members, marking the Council’s first partnership with a hotel group. The association is designed to support members’ business and personal travel needs, offering special pricing, room upgrades, hotel credits, dining and
