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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
Lucara Reports Strong First Half Year Earnings
Vancouver: Lucara Diamond Corp has reported strong first half year earnings, with second quarter revenues of $140.8 million or $1,824 per carat resulting in first half revenues of $191.4 million. The first half revenue compared favorably with the $67.8 million in revenue over the same period in 2015. Lucara’s results were boosted by the sale of the 813-carat “Constellation” diamond,
Why Do Indians Buy So Much Gold? RBI to Study
Mumbai: The Reserve Bank of India (RBI) has set up a committee to study Indian household financing pattern and why they spend large sum of money on gold. The panel will look at various facets of household finance in India and to benchmark India’s position vis-a-vis both the peer and advanced countries, it said in a statement on Thursday. The
GJEPC & De Beers Donate INR 1 Crore to NGOs
Mumbai: To mark its 50th golden jubilee anniversary, Gem and Jewellery Export Promotion Council (GJEPC) presented ‘Jewellers for Hope Charity Dinner’ event in association with De Beers as part of its corporate social responsibility (CSR) initiatives. Though most gems and jewellery companies do individual charity, GJEPC’s ‘Jewellers for Hope’ is the ONLY event where jewellers come together for a common
GJF Organized Fashion Nite
Mumbai: All India Gems & Jewellery Trade Federation (GJF), the apex body of the domestic Gems & Jewellery sector, organized GJF Fashion Nite on 5th Aug, Mumbai to unveil the exclusive and designer jewellery collection by top Brands and promote new business relationships amongst the trade. Through this platform, GJF has also launched the new edition of Gems & Jewellery
European Natural Diamonds Exempted from US Tariffs
Antwerp: Natural diamonds cut in Europe will once again be exempted from US import tariffs. This brings an end to the 10% import tariff that had been in effect for the past six months. The restored exemption is significant news for the Antwerp diamond sector: Antwerp is Europe’s leading diamond-cutting centre, and the United States is a major trading partner
De Beers’ Rough Production Rises 88% in Q2 2026
London: De Beers has reported that its rough diamond production was 88% higher at 7.8 million carats, reflecting the impact of the extended maintenance shutdown in the comparative period at Orapa in Botswana, as well as the planned mining of higher-grade ore at both Jwaneng in Botswana and Gahcho Kué in Canada. Planned plant maintenance at Orapa and Jwaneng during
Only Natural Diamonds Should be Graded with 4Cs: CIBJO
Milan: The Diamond Commission of the World Jewellery Confederation (CIBJO) has insisted that the 4C polished diamond grading system (cut, color, clarity, and carat weight) should only be used for natural stones, but not synthetic ones. In the Special Report prepared for the upcoming 2026 CIBJO Congress, the Commission’s head Udi Sheintal also urged the industry’s stakeholders to use the
Forevermark Diamond Jewellery Enters East India
Kolkata: Forevermark Diamond Jewellery from De Beers Group has strengthened its presence in East India with the launch of its new store at South City Mall, Kolkata, marking the opening of its 10th store in India and another significant milestone in the brand’s retail expansion journey. Inaugurated by filmstar Raima Sen, the store brings Forevermark’s signature collection of natural diamond jewellery to one of the
