International News
Gold, ‘Non-traditional reserve currencies’ eat into U.S. dollar’s reserve dominance: Wolf Richter
Gold and other reserve currencies – but not the euro or renminbi – are steadily eroding the U.S. dollar’s position as the world’s preeminent reserve asset, according to Wolf Richter, analyst and publisher of Wolf Street.
“The status of the US dollar as the dominant global reserve currency has helped the US fund its twin deficits, and thereby has enabled them: the huge fiscal deficit every year and the massive trade deficit every year,” Richter wrote in an article published Monday. “The reserve currency status comes from other central banks (not the Fed) having purchased trillions of USD-denominated assets such as Treasury securities, other government securities, corporate bonds, and even stocks. The dollar status as the dominant reserve currency has been crucial for the US, and as that dominance declines ever so slowly, risks pile up ever so slowly.”
Total holdings of USD-denominated securities by other central banks (not the Fed) fell by $59 billion to $6.63 trillion at the end of 2024, from $6.69 trillion at the end of 2023,” he noted. “And the dollar’s share declined to 57.8% of total allocated exchange reserves at the end of 2024, the lowest since 1994, down by 7.3 percentage points in 10 years, as central banks have been diversifying their holdings for years to assets denominated in currencies other than the dollar, and into gold.”
International News
India Delegation Arrives In Paris For Three Days Of Learning, Business & Collaboration
Buyers, Institutional Investors, and Jewelers Are Guaranteed Strict Adherence To Exact Quality, Testing, and Traceability Standards. Silver From Any BIS-Approved Refinery Ensures A Verified Fineness and Purity
GJEPC has brought a delegation of 17 leading Indian jewellery manufacturers to Paris for an intensive three-day programme aimed at building business, design collaboration, and long-term partnerships with French buyers, retailers, designers, and luxury brands.The delegationwas led by Shaunak Parikh Vice Chairman, GJEPC
The strategic trade mission comes as India’s gem and jewellery exports to France surged 19.72% year-on-year, reaching US$ 478.78 million in FY 2025–26 (up from US$ 399.93 million in FY 2024–25). Key drivers of this growth include:
- Gold Jewellery Exports: US$ 159.53 million (+18.69%)
- Cut & Polished Diamonds: US$ 204.07 million (+4.69%)
Despite rapid growth, India currently holds a 3.8% share of France’s total US$ 12.61 billion gem and jewellery import market, highlighting significant untapped potential for Indian exporters.
Strategic Briefing at the Embassy of India
The delegation’s engagement commenced on 13 October with an expert briefing at the Embassy of India in Paris on “The French Market & the Marketing of Desirability.” The session focused on French consumer trends, luxury brand positioning, sustainability, and market entry strategies. Key insights were delivered by:
- Anish Kumar Singh, GJEPC Representative for France & Founder, Bhartiya Paris Club
- Dr. Marta Marcheva, Executive Director, Institut Sup de Luxe
- Céline Dassonville, CEO, ethiwork
The three-day initiative includes market visits, knowledge sessions, and high-level networking, culminating in an exclusive Buyer-Seller Meet (BSM) on 15 October 2026 at the Marriott Champs-Élysées, Paris.
Participating Indian Companies
The 17 Indian manufacturers representing the country’s high-end craftsmanship and design capabilities are: Asian Star Co. Ltd, DNJ Creation LLP, Fine Jewellery Manufacturing Ltd, Goldstar Jewellery Pvt. Ltd., KGK Creations (India) Pvt. Ltd., Malya Jewel Craft, Neysa Jewellery Ltd, NTS Navrattan Jewellers Pvt. Ltd., Patdiam Jewelry Ltd, Priority Jewels Ltd, Renaissance Global Ltd, S. Vinod Kumar Diamonds Pvt. Ltd., Sunjewels Pvt. Ltd., Supergems Jewellery, Tanvirkumar & Company, UniDesign Jewel, and Walking Tree Atelier Pvt. Ltd.
India Delegation Arrives In Paris For Three Days Of Learning, Business & Collaboration
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National News10 hours agoBIS Introduces The Silver Refinery Certification Scheme; Framework Introduces “India Good Delivery For Silver”
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National News11 hours agoAspect Bullion & Refinery Launches “India’s Biggest Gold Fest” With Zero Making Charges On Gold Coins and Bars
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National News12 hours agoGJEPC, ECGC Programme Underlines Recent Changes In Export Credit Insurance For The GJ Sector.
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International News9 hours agoIndia Delegation Arrives In Paris For Three Days Of Learning, Business & Collaboration
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