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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
Need to Create State of Art Museum in Gujarat
Gandhinagar: A symposium was organized by the Gem & Jewellery Trade Council of India (GJTCI) where Mr. O. P. Kohli, Honorable Governor of Gujarat, Shri Shantibhai Patel, President, GJTCI and leading trade dignitaries and craftsman remained present. Artifacts & designs of craftsman were showcased & trade dignitaries were honoured by Governor of Gujarat to name a few Shri Natubhai Chokshi
Argyle Pink Diamonds Preview in Copenhagen
Copenhagen: Rio Tinto’s spectacular 2016 Argyle Pink Diamonds Tender has been launched during a world exclusive preview in Copenhagen against the backdrop of a rare Argyle pink diamond jewellery exhibition. The 2016 Argyle Pink Diamonds Tender includes 63 pink, red and violet diamonds and represents the finest of a year’s production from Rio Tinto’s Argyle diamond mine in Western Australia.
New WFDB Executive Committee Takes Office
Antwerp: The World Federation of Diamond Bourses (WFDB) has announced changes to its Executive Committee following unanimous votes at the recent 37th World Diamond Congress in Dubai. President Ernie Blom was re-elected to third consecutive term, while Israel Diamond Exchange President Yoram Dvash was elected Vice President. Rony Unterman continues as Secretary-General, while the new Treasurer-General is Bharat Diamond Bourse
Stuller Joins IGDA
Morrisville: The International Grown Diamond Association (IGDA) has accepted leading US jewellery manufacturer Stuller as its member. IGDA – an industry-wide association – was launched in February 2016 and comprises of leading lab-grown diamond growers, distributors, suppliers, retailers and technical experts. IGDA seeks to represent the lab-grown diamond industry, promote lab-grown diamonds as a new choice and educate about various
Antwerp Presents Ring with 321 Natural Diamonds to the US
Antwerp: During the celebration of the 250th anniversary of the United States (US) in the Parc du Cinquantenaire in Brussels, the Antwerp diamond sector presented an exclusive ring set with 321 natural diamonds to U.S. President Donald Trump. The ring symbolizes the historic trade relationship between Antwerp and the United States – for decades the most important export market for
From London to Athens, GJEPC Builds New Export Opportunities
London: Representing India’s gem & jewellery industry (G&J), the Gem & Jewellery Export Promotion Council (GJEPC) Vice Chairman Mr. Shaunak Parikh joined the high-level business delegation led by India’s Commerce & Industry Minister Mr. Piyush Goyal to the UK and Greece. In the UK, GJEPC championed the industry’s priorities as the India–UK FTA paves the way for gem & jewellery
Candere Announces Smriti Mandhana as its New Brand Ambassador
Mumbai: Candere, the lifestyle jewellery brand from the House of Kalyan Jewellers, has announced celebrated Indian cricketer Smriti Mandhana as its new brand ambassador. Joining Shahrukh Khan as the face of the brand, Smriti’s association marks a significant step in Candere’s journey to strengthen its connect with young, modern Indian consumers. One of India’s most accomplished cricketers, Smriti has built
GJEPC Urges RBI to Ease Banking Norms to Boost G&J Exports
Mumbai: India’s Gem & Jewellery Export Promotion Council (GJEPC) has urged the Reserve Bank of India (RBI) to introduce a series of banking and regulatory reforms to strengthen the competitiveness of India’s gem and jewellery (G&J) exports. The Council’s recommendations focus on improving exporters’ access to working capital, reducing compliance bottlenecks, streamlining banking procedures and creating a more facilitative regulatory
