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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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GJSCI’s Initiative on Tribal Youth Empowerment
Mumbai: The Shrimad Rajchandra Skill Development Centre, set up in partnership with the Gem & Jewellery Skill Council of India (GJSCI) in September 2022, is helping tribal youth in Dharampur, Valsad, in southern Gujarat build sustainable careers in the gem and jewellery sector. The centre offers training in jewellery CAD design, a key skill in modern jewellery manufacturing. Supported by
Zen Diamond Opens Store in Chandigarh
Chandigarh: Zen Diamond continues to expand its presence in India with the opening of its latest boutique at Nexus Elante Mall, Chandigarh. After establishing a strong foothold in Mumbai with stores in Bandra and Borivali, and further strengthening its presence in Bengaluru with two stores, Zen Diamond now brings its hallmark of exquisite craftsmanship and modern design to North India.
Rio Tinto Concludes Its Final Beyond Rare Tender
Perth: Rio Tinto has brought its celebrated Beyond Rare Tender series to a close, presenting 52 lots of exceptional fancy colour diamonds sourced from its Australian and Canadian mines. Titled “Into The Light,” the event was the third and final edition in Rio Tinto’s annual Art Series. With the Argyle Diamond Mine having ceased operations in 2020 and the Diavik
GJEPC Submits Pre-Budget Proposals to Govt.
New Delhi: India’s Gem & Jewellery Export Promotion Council (GJEPC) submitted a set of pre-budget proposals to the Government of India in New Delhi on 7th November, aimed at improving ease of doing business and boosting exports. The Council proposals were put forth by Mr. Kirit Bhansali, Chairman, GJEPC; Mr. Anoop Mehta, Convener – Diamond Panel; Mr. K. Srinivasan, Convener
AWDC and ALROSA Renew Cooperation Agreement
Antwerp: The Antwerp World Diamond Centre (AWDC), the official representative of the Antwerp diamond industry, and ALROSA, world’s largest diamond mining company by volume, renewed their cooperation agreement today. The renewed cooperation agreement will further expand and strengthen the close relationship between and leadership roles of the two organizations over the course of the next years. The objective of this
Anglo American Plans to Fire un Vaccinated Workers
London: Anglo American, parent company of De Beers, plans to sack workers who refuse the Covid vaccine, according to a report in Daily Telegraph newspaper. The requirement will apply to “all employees, contractors and any visitors to Anglo sites as well as all new joiners,” the paper says, citing documents it has seen. London-based Anglo will reportedly introduce the policy early
IIG Students Visit SRK Exports
Mumbai: The International Institute of Gemology (IIG) organized the industrial visit for the students of Gemstones and Diamond to SRK Exports on 27th November 2021 followed on the next day to GJSM-2021 on 28th November 2021 guided with the director IIG, Mr. Rahul Desai and faculty coordinator, Ms. Pooja Ray. The industrial visit was organized to one of the largest diamond
IDI Launches Rock en’Roll Campaign to Spur Sales
Ramat Gan: The Israel Diamond Institute (IDI) launched a campaign on 1st December that offers discounts of up to $200 to buyers of Israeli diamonds from qualified sellers. Titled Rock en’Roll, the campaign is intended to boost the already robust Israeli diamond sales during the holiday period, as per a press release from IDI. The program offers buyers a discount
