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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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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
CIBJO Unveils Artworks of Reena Ahluwalia Celebrating Centenary Year
Vicenza: As a highlight of the opening day of the 2026 CIBJO Congress, that began on the 4th September, 2026 in Vicenza (Italy), two dedicated creations by the noted Canadian visual artist Reena Ahluwalia, celebrating the Centenary Year of the World Jewellery Confederation (WDC) were unveiled. Both creations were donated to the collection of the Museo del Gioiello –the jewellery
Senco Gold with Olocker Provide Jewellery Insurance
Mumbai: Senco Gold & Diamonds has partnered with Olocker, India’s first dedicated jewellery insurance platform, to offer free jewellery insurance to its customers, protecting purchases against risks such as snatching, robbery, and housebreaking. On the surface, it’s a simple value-add: buy jewellery from Senco, get it insured, at no extra cost. But the thinking behind it is more personal —
Laboratory Grown Diamond Sales Triple
New York: NPD Group, a well-recognized market research firm releases findings from its recent project ‘Diamond Tracker’, which gathers data from a representative cross section of U.S. Speciality jewellers, 3950 doors in total. The study shares interesting data about how lab-grown diamonds are selling at retail, Madestones reported. The percentage of total sales of laboratory grown diamonds has tripled from
ALROSA to Set Up Think Tank to Analyze Market
Moscow: ALROSA president Andrey Zharkov said that the Russian diamond giant will create an analytical center tasked with targeting diamond prices and monitoring market development environment, reports Rough-Polished. The decision to set up such a center is a result of the situation in 2015, when a wrong forecast that market stakeholders made with regard to jewelry demand in China had
One More PIL to Get Back Kohinoor Diamond
New Delhi: The Supreme Court of India on Thursday agreed to hear another PIL seeking a directive to the Centre to try and bring back the Kohinoor diamond from the United Kingdom, reports tribuneindia. A Bench headed by Chief Justice TS Thakur said it would hear the fresh plea by Heritage Bengal and another organization along with a pending petition
‘Lesedi la Rona’ Fails to Attract Buyers
London: The 1,109-carat ‘Lesedi la Rona’ is the second-largest gem-quality rough diamond ever found, but bidding didn’t reach the Sotheby’s reserve price, reports theguardian. Turns out the largest diamond discovered in over a century may not be worth that much after all. The tennis ball-sized “Lesedi la Rona” failed to find a buyer on Tuesday, a disappointing result for a
