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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 $2 million and barring the
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India’s Polished Diamond Exports Flat in June
Mumbai: Exports of cut and polished diamonds from India remained virtually flat in June 2016, dropping by a marginal 0.38%, year-on-year. The country exported US$ 1.846 billion worth of goods as compared to the US$ 1.853 bn in the same month a year ago, according to the provisional data released by The Gem & Jewellery Export Promotion Council (GJEPC). Gold
SGB: Fixed Price is INR 3119 Per Gram
New Delhi: The Indian Government has fixed Rs 3,119 per gram as the issue price for the 4th tranche of Sovereign Gold Bonds (SGB) scheme which is opened for subscription now. The government has reduced the minimum subscription denomination to 1 gm in the 4th tranche, which would be open for investment by individuals and institutional investors from July 18-22.
GJF to Hold Seminars on Excise Implementation
Mumbai: All India Gems and Jewellery Trade Federation (GJF) has said that it will conduct seminars in 60 cities across the country to create awareness among jewellers on norms of excise duty implementation and other trade related practices. “There is lot of confusion among jewellers about the excise duty norms, administrative matters and maintenance of records. We will organize seminars
Banks to Disclose Names of 7000 Willful Defaulters
Ahmedabad: The All India Bank Employees Association (AIBEA) is all set to make public the names of 7,000 willful defaulters, many of who are from Gujarat. The association has said they will disclose the data next week. “There are around 7,000 willful defaulters, and their bank dues add up to a staggering Rs70,000 crore. Their names will be announced on
Platinum Jewelry Takes Center Stage at the Emmy Awards
Mumbai: The 78th Emmy Awards delivered a dazzling showcase of fine jewelry, with platinum featured in many of the evening’s most memorable red carpet looks. Prized for its rarity, enduring strength and naturally luminous white color, platinum provided the ultimate setting for extraordinary diamonds and rare gemstones worn by some of television’s biggest stars. From striking diamond earrings to contemporary
De Beers Group Science & Technology Showcases SynthDetect 2
London: De Beers Group’s Science & Technology division today revealed SynthDetect 2, the next generation desktop diamond screening instrument. The first SynthDetect instrument and its successor SynthDetect XL – released in 2017 and 2018 respectively – have been among the most successful instruments in De Beers Group’s suite of diamond verification instruments due to their outstanding technical screening functionality and
Amit Shah Graces 52nd India Gems & Jewellery Awards
Industry’s premier awards bring together national and state leadership, recognising excellence and India’s growing global ambitions Mumbai: In a landmark gathering that brought together the country’s political leadership and the leadership of India’s gem and jewellery industry, the Gem & Jewellery Export Promotion Council (GJEPC) hosted the prestigious 52nd India Gems & Jewellery Awards (IGJA), with Shri Amit Shah, Hon’ble
Gemfields Generates $29.6m from Emerald Auction
London: Gemfields Group Limited announced that its latest commercial-quality emerald auction generated $29.6 million, with every lot sold and the average realized price rising sharply from its previous sale. The auction, held between 24 August and 10 September, achieved $9.72 per carat, compared with $7.46 at the November-December 2025 auction. Total proceeds were also up from $25.4 million despite the volume
