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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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33rd Edition of IIJS from 4th August in Mumbai
Opens Doors for Young Innovators and MSME Sector Mumbai: : In a welcome move, the India International Jewellery Show (IIJS) 2016 plans to introduce “Hall of Innovation” product gallery and a dedicated section for MSME sector in Hall no. 2 at Bombay Exhibition Centre. These new features are being introduced to encourage highest levels of craftsmanship and provide equal opportunities
Gold Demand at Record Levels in Q1 2016
Mumbai: Global gold demand reached 1,290 tons (t) in the first quarter of 2016, a 21% increase compared to the same period last year, making it the second largest quarter on record, according to the World Gold Council’s (WGC) Gold Demand Trends report. This increase was driven by huge inflows into exchange traded funds (ETFs), fueled by investor concerns regarding
PNG Jewellers adopts 9 students as a part of CSR
Pune: As a part of their newly induced Corporate Social Responsibility (CRS) strategy, PNG Jewellers has adopted 9 students of Eklavya Bal Shikshan & Arogya Nyasa on the felicitous occasion of Mr. Saurabh Gadgil’s birthday (Chairman and Managing Director PNG Jewellers). PNG Jewellers has been emphasizing on an effective CRS plan and aiding 9 students from a Pune-based organization with
HRD Antwerp Certified against 2013 COP
Antwerp: RJC announces HRD Antwerp NV has achieved Certification against the 2013 Code of Practices (COP) at its facilities in Antwerp, Mumbai and Istanbul. “It is a pleasure to announce HRD Antwerp NV has been certified against the 2013 COP. The new provisions under the 2013 COP address important issues for our Members and their supply chain. We are delighted
GJEPC Highlights Key Policy Priorities at Meeting with CIM
New Delhi: India’s Gem & Jewellery Export Promotion Council (GJEPC) highlighted the industry’s key policy priorities during a meeting chaired by Mr. Piyush Goyal, the Union Minister of Commerce & Industry, with Export Promotion Councils (EPCs) and industry associations in New Delhi on 24 June to review the Export Promotion Mission (EPM). Ashish Borda, Convenor – PMBD, GJEPC, and Sabyasachi
Thangamayil Jewellery, Receives IAGES Accreditation
Madurai: Gold buyers in Tamil Nadu can now purchase their favourite precious metal with complete trust and transparency from Thangamayil Jewellery Limited (TMJL), one of the most recognized chain of jewellery stores in the state. TMJL has officially received its IAGES accreditation, further cementing its commitment to serve its consumers in the most ethical, responsible and sustainable manner. The Indian
Russia to Levy 8% Duty on Rough from Sep.
Moscow: The Russian government has announced that it will impose an 8% export duty on rough diamonds weighing between 0.45 carats and 10.8 carats, as well as on special-size diamonds exceeding 10.8 carats, effective September 1, 2026. The new duty will apply to rough diamonds in weight categories that are considered economically viable for domestic cutting and polishing. Russia had
GJEPC Urges Simpler Path to Gold Monetization
Mumbai: India’s gold monetization efforts must focus on simplicity, trust and convenience if the country is to unlock the vast stock of idle household gold, said Khushboo Ranawat, Regional Chairperson – West, and Member – National Exhibitions, GJEPC, during a panel discussion at the ‘India’s Gold Revolution: Monetization, Tokenization & Financial Transformation’ seminar organized by the Bombay Chamber of Commerce &
