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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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Alrosa and AWDC Reaffirm Strong Relationship
Moscow: The excellent collaboration between Antwerp, the leading diamond trade hub, and Russian mining giant Alrosa, the world’s largest diamond producer, was once again highlighted at an exclusive networking event in the margins of Alrosa’s diamond tender period. The event, a joint initiative by Alrosa and AWDC, was held in the Belgian Ambassador’s residence in Moscow. As the most important
GJSCI Supports Chennai’s Flood Affected People
Mumbai: The Gem & Jewellery Skill Council of India has pledged its support for Chennai floods and have donated Rs. 1,00,001/- towards the Prime Minister’s National Relief Fund to aid all the people affected by this calamity. Mr. Premkumar Kothari, Chairman, GJSCI said, “We at GJSCI have been deeply saddened by the natural calamity which has struck Chennai & surrounding
Mumbai’s Temple to Deposit 160 kg Gold in GMS
Mumbai: One of the most popular temples in India may soon make the first substantial contribution to Prime Minister Narendra Modi’s plan to recycle tons of idle bullion to reduce imports and the country’s current account deficit, according to media reports. Mumbai’s two-century-old Shree Siddhivinayak temple is considering depositing some of its 160 kgs. of gold with banks, according to
Gemfields Achieves $19.2 Mln at Jaipur Auction
Mumbai: Gemfields plc has announced the results of its auction of predominantly lower quality rough emerald extracted by Kagem Mining Ltd in Zambia (which is 75% owned by Gemfields and 25% by the Government of the Republic of Zambia). The auction was held in Jaipur, India from 18th – 21st of November, 2015 and the proceeds of this auction will
Pre CIBJO Congress Report Focuses on AI
Milan: With a couple of days to go to the opening of the 2025 CIBJO Congress in Paris, France, on October 27, 2025, the tenth and the final of the pre-congress Special Reports has been released. Prepared by the CIBJO Technology Committee, chaired by Stéphane Fischler, the report focuses exclusively on artificial intelligence, looking at ways in which the greater jewellery
De Beers Brings Diamonds & Glamour to London
Mumbai: Insiders suggest a star-studded journey to London might be on the cards. But why London? Beyond its glittering reputation as a global hub for jewellery and fashion, whispers point to something far more dazzling — De Beers is set to host a major showcase in the city. This year, De Beers Group makes its grand debut at Frieze London,
India’s G&J Exports Grow 3.66% in 1H of ’25-26
Mumbai: India’s gem and jewellery (G&J) exports record a steady recovery in the first half of FY2025–26, witnessing a growth of 3.66% to US$ 14.09 billion between April and September 2025 compared to US$ 13.60 billion in the same period last year. This growth comes despite global headwinds, reflecting the resilience and adaptability of India’s jewellery exporters as festive and
IIBX & GJEPC Facilitate First-Ever Duty-Free Gold Import
Mumbai: The India International Bullion Exchange (IIBX), in collaboration with the Gem & Jewellery Export Promotion Council (GJEPC), has achieved a major milestone by facilitating the country’s first-ever duty-free import of gold under the Directorate General of Foreign Trade’s (DGFT) Advance Authorisation Scheme. This breakthrough marks a new chapter in India’s bullion market, aligning with the government’s vision to streamline
