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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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Element Six Sues IIa Technologies
Singapore: Element Six Technologies Ltd has today (12 January 2016) begun legal action in Singapore against IIa Technologies Pte. Ltd alleging infringement of its patents concerning synthetic diamond material. Element Six believes that certain of its patents for proprietary synthetic diamond products and their method of manufacture have been infringed (in particular Singapore patent numbers 115872 and 110508). It is
National Jewellery Awards on 6th Feb in Mumbai
Mumbai: The All India Gems & Jewellery Trade Federation (GJF) has announced its 6th edition of National Jewellery Awards (NJA) 2015 -16, Grand Finale to be held in Mumbai on 6th February, 2016. The NJA, being the most prestigious awards of the Gems & Jewellery industry will recognize and honor design, talent and establish new trends in the Indian Jewellery
World's First Diamond-Backed Cryptocurrency
New York: The companies behind the world’s first diamond-backed cryptocurrency will start selling the digital coinage this month. The asset class used is colored diamonds, which the founders of the PinkCoin claim have not lost value since tracking began in 1959, reports Rapaport. Precious Investments and its subsidiary BitGem Asset Management (BAM) will launch the PinkCoin crowdsale – a crowdfunding
Gold Demand Down by 15% Due to Poor Rain
Kolkata: The demand for gold will be less this wedding season – by 10 per cent-15 per cent – beginning January 15 in rural India as farmers have been affected by a poor kharif crop due to inadequate rains, reports The Economic Times. Lower commodity prices have made matters worse for them, and now they are keeping their fingers crossed
Progress in Harmonization of Language used on Gemological Reports
Mumbai: The Laboratory Manual Harmonization Committee (LMHC) has reported significant progress towards its goal of achieving the harmonisation of language used on gemmological reports, following its latest meeting, which was hosted by the Swiss Gemmological Institute – SSEF, in Basel, Switzerland, in May. Following the meeting, LMHC members unanimously approved three new information sheets that standardise terminology and testing procedures, and
GJEPC Urges Finance Minister for Urgent Relief
New Delhi: India’s Gem & Jewellery Export Promotion Council (GJEPC) leadership, led by Chairman Mr. Kirit Bhansali, along with Vice Chairman Mr. Shaunak Parikh and Executive Director Mr. Sabyasachi Ray, met the Hon’ble Minister of Finance and Corporate Affairs Smt. Nirmala Sitharaman recently to seek urgent relief measures for the gem and jewellery sector, which has been severely impacted by
BDB Leadership Series Discusses Future of G&J Sector
Mumbai: The second edition of the Bharat Diamond Bourse (BDB) Leadership Series themed ‘Polishing Our Future’ concluded successfully with world renowned speakers attending the preparatory conference for the Gem and Jewellery Industry members. This was the third day of the three-day conference, the first two days dedicated to presentation of research papers by globally acclaimed scientists under the AGDRT (Advances
Forevermark Diamond Jewellery Launched in India
New Delhi: Forevermark Diamond Jewellery from De Beers Group, the world’s leading diamond company, officially launched as a jewellery brand yesterday. India becomes the lead market for the Forevermark brand with a landmark brand debut and flagship store opening in New Delhi. The opening of the flagship New Delhi store marks a significant milestone in Forevermark’s journey of bringing its
