International News
CIBJO President Dr. Gaetano Cavalieri Honoured with ICA Lifetime Achievement Award
Dr. Gaetano Cavalieri, President of the World Jewellery Confederation (CIBJO), has been awarded the Lifetime Achievement Award by the International Colored Gemstone Association (ICA) in recognition of his decades-long commitment to advancing the global coloured gemstone sector. The prestigious honour was presented during the ICA Congress held in Brasília from 19–22 May.
“Gaetano Cavalieri stands today as one of the most respected and influential figures in the global jewellery community,” said Damien Cody, ICA President. “His dedication spans decades, and we, as an industry, owe him a deep and enduring debt of gratitude. He has been awarded many accolades over the years and he now joins a short list of preeminent individuals who have been honoured with this most prestigious recognition.”
ICA CEO Doug Hucker added, “It is nearly impossible to acknowledge all of the people, organisations, industry sectors and associations who have benefited from Dr Cavalieri’s efforts and participation. The ICA is honoured to recognise a true titan of our industry.”
In response, Dr. Cavalieri expressed his appreciation for the recognition, stating: “I am delighted to have been recognised by ICA for my longstanding efforts to develop standards across the global coloured gemstone community. The ICA plays a key role for the benefit of the global international coloured gemstone industry.”
The Lifetime Achievement Award highlights Dr. Cavalieri’s enduring influence in shaping ethical standards, promoting transparency, and fostering collaboration across the global jewellery and gemstone sectors.
International News
Global Bullion Markets Experience Downturn As US Fed Keeps Interest Rates Unchanged
Market Analysts Anticipate Continued Volatility In Precious Metals As Traders Digest The Fed’s Stance On Monetary Policy and Its Implications For Future Rate Trajectories
Global bullion markets experienced a downturn on Thursday as spot gold and silver prices each fell by nearly 1% following the U.S. Federal Reserve’s overnight decision to keep key interest rates unchanged. Domestic gold and silver prices in India are expected to reflect this global weakness throughout today’s trading session.
| Parameter | Details |
| Gold (MCX) Futures | ~₹1,43,600.00 – ₹1,43,724.00 per 10 grams |
| Silver (MCX) Futures | ~₹1,94,450.00 per kg |
| Key Contract Benchmark | December 2026 Gold Futures are hovering near ₹1,42,324 – ₹1,43,700 levels. |
| Spot Gold | Down ~1%, struggling around $4,044/oz. |
| Spot Silver | Down ~1%, trading below $53.50/oz. |
| U.S. Fed Policy Rate | Unchanged at 3.75% – 4.00%. |
In international markets, spot gold tumbled nearly 1% to trade near $4,044 per ounce, while spot silver dropped 1% to fall below $53.50 per ounce.
The market reaction follows the latest Federal Open Market Committee (FOMC) meeting, where policymakers voted to maintain the target range for the federal funds rate at 3.75% to 4.00% (3-3/4 to 4 percent).
In an official statement, the FOMC reaffirmed its commitment to supporting its dual mandate of maximum employment and price stability while continuing its policy of maintaining ample reserves within the banking system.
Market analysts anticipate continued volatility in precious metals as traders digest the Fed’s stance on monetary policy and its implications for future rate trajectories.
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