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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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CIBJO Releases 'CSR for the Jewellery Professional'
Milan: World Jewellery Confederation Education Foundation (WJCEF), the educational arm of CIBJO, has announced the launch of a six-lesson course on Corporate Social Responsibility (CSR) for jewellery, diamond, coloured gemstone, pearls, coral and precious metal professionals, in association with Branded Trust Education of Australia. The online course, called “CSR for the Jewellery Professional” was developed by a team of world-recognized
KP Teams Visit CAR & Venezuela
Dubai: Over the last two months, teams from the Kimberley Process (KP) have visited the Central African Republic (CAR) and Venezuela to explore the possibilities of resumption of rough diamond exports from these countries. While the former visit took place in early March, the latter visit concluded last week. In a letter sent to all KP participants on April 14,
Tanzania to Boost Polishing of Rough Gemstones
Dar-Es-Salaam: Tanzania Mineral Dealers Association (TAMIDA) said it is working together with ministry of energy and minerals to increase the country’s polishing capabilities as well as to bring the gemstone market back to Tanzania. The association’s Sammy Mollel said in remarks made at the 5th annual Arusha Gem Fair in Arusha, Tanzania that polishing local gems was important as it
Tirupati Temple Deposits 1,311 kg. Gold with PNB
Chennai: The Tirupati Balaji temple management said it has deposited 1,311 kg of gold with a public sector bank under the Gold Monetization Scheme (GMS) and is negotiating for better terms for making more such deposits. The deposit of 1,311 kg of pure gold bars of 0.995 fineness was made with the Punjab National Bank (PNB) on Monday, the Tirumala
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
