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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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KP, AWDC to Hold Sp. Forum on Rough Evaluation
Antwerp: Kimberley Process (KP) Chair Ahmed Bin Sulayem has announced the second in a series of three, one-day ‘Special Forums’ on rough diamond valuation to be held on September 30 at the Hylitt Hotel in Antwerp. The forum aims to foster debate on the future shape and methodology of rough diamond valuation. In association with the Antwerp World Diamond Conference
Boodles is Select Atelier for Argyle Pink Diamonds
London: UK luxury jeweller, Boodles has become a Select Atelier for Rio Tinto’s Argyle Pink Diamonds. Boodles joins an exclusive group of master craftsman and luxury jewellers entrusted with transforming Argyle pink diamonds into exquisite jewellery. Josephine Johnson, manager of Argyle Pink Diamonds said “Boodles are an exciting British fine jeweller with over two centuries of heritage, who continue to
New Synthetic Detection Technology by IIDGR
London: The International Institute of Diamond Grading & Research (IIDGR), part of The De Beers Group of Companies, today announced that it will unveil the latest addition to its suite of synthetic detection technology at the forthcoming Hong Kong Jewellery & Gem Fair between 14 and 18 September 2016. The new instrument, PhosView™, is a compact, self-contained screening device designed
GJEPC Discusses Mumbai Jewellery Park with Govt.
New Delhi: The representatives of India’s Gem & Jewellery Export Promotion Council (GJEPC) recently hosted a meeting with senior officials of various government departments to discuss the proposal for setting up the “Mumbai Jewellery Park” (MJP) to facilitate development of a modern centralized infrastructure for gold jewellery manufacture in close proximity to the city. The upcoming MJP is a mega-project
Gold Smuggling Arrests Jump 750% YoY in India
Mumbai, 14th April: While cases of gold smuggling in India have jumped 265% from 40 in 2012-13 to 146 in 2013-14, the number of people arrested has shot up by 750%, from 30 in 2012-13 to 255 in 2013-14, data from the Directorate of Revenue Intelligence shows, according to a report published in Mineweb. “Gold imports through the legal channel have
