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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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JGTD to Open from 27th October
Dubai: The Middle East’s most global B2B jewellery sourcing event is all set for its fifth edition this October! Jewellery, Gem & Technology in Dubai (JGTD) opens from 27–29 October 2026 in North Halls N21 and N23 of the Dubai Exhibition Centre (DEC), reaffirming the fair’s status as the region’s go-to marketplace for fine jewellery, diamonds, coloured gemstones and technology. Featuring
Indian Leaders Elected to the CIBJO Board of Directors
Vicenza: At the conclusion of the CIBJO Centenary Congress in Italy on September 7, the General Assembly elected several prominent leaders from the Indian gem and jewellery sector to the Board of Directors of The World Jewellery Confederation (CIBJO). Key Appointments & Leadership: Industry Impact & Key Initiatives Founded as the oldest global organization in the gem and jewellery trade,
CIBJO Backs ‘Synthetic’ Terminology for Lab Growns
Vicenza: Meeting in Vicenza, Italy, on September 7, 2026, after the conclusion of the Centenary CIBJO Congress, the organization’s Board of Directors approved a recommendation by its Diamond Commission and Coloured Stone Commission that the Blue Books be revised so that the word “synthetic” be the sole descriptor used to accurately and scientifically define a created product with the same chemical
IGM Appoints Nirakar Chand as MD of BullionX
Mumbai: India Gold Metaverse (IGM) today announced the appointment of former CEO of Diamond India Ltd., Mr. Nirakar Chand, as the Managing Director of its bullion market vertical, BullionX™, which is a technology-enabled ecosystem for modern bullion markets. Earlier in his career, Mr. Chand had spent 22 years at State Bank of India (SBI) — 6 years in Bullion and
Gold Demand Set to Increase in India: WGC
Mumbai: Gold demand appears to be positive in India as the consumer sentiment is likely to recover in 2021, from its dismal performance due to the coronavirus pandemic-related disruptions and volatile price movement, according to a report by the World Gold Council (WGC). Initial data about the Dhanteras festival in November suggest that while jewellery demand was still below average,
Gemewizard Collaborates with IIG
Mumbai: The Gem Color Academy, Gemewizard’s educational wing, has announced the official opening of its fourth branch, run in collaboration with International Institute of Gemology (IIG) of India. The new venture enables IIG to offer online and on-site classes of Gem Color Academy’s Colored Stones Grading Course in its premises in India and Hong Kong. Gemewizard’s president Menahem Sevdermish discusses
Antwerp’s Rough Tenders Thrive Despite Pandemic
Mumbai: Antwerp’s tender houses have been thriving in 2020, enabled by quick adaptations and continuity of operations in the Antwerp diamond square mile. Antwerp is home to a critical mass of buyers as well as the largest concentration of tender houses and representative offices of mining companies, enabling the successful conclusion of nearly 100 rough tenders, and more than 10,5 million
Nirav Modi’s Judgement on 25th February
London: The Westminster Magistrates’ Court in London will give its judgement on 25th February whether diamantaire Nirav Modi would be sent to India to face the law in the Rs 13,000 crore-bank fraud case. On January 8, the UK court completed the hearing on extradition of Nirav Modi to India and set February 25 as next date to deliver its judgement. Nirav
