International News
GIA Suspends Acceptance of Overseas Submissions Requiring US Shipment
The Gemological Institute of America (GIA) has temporarily suspended the acceptance of goods at its international laboratories that require shipping to the US for services. This decision comes in response to new tariffs introduced by President Donald Trump’s administration.

In a recent communication to clients, GIA advised customers outside the US to refrain from sending items directly to its American labs for grading or other services. The institute explained that a baseline 10% tariff now applies to all goods imported into the US, with additional duties imposed on items from countries such as India, South Africa, and Thailand starting April 9. These tariffs affect gems sent for laboratory services, even if they are not intended for sale.
“There is a baseline 10% tariff on goods being imported into the US,” the GIA explained. “Additional tariffs for products from specific countries, including India, South Africa, Thailand and others, will begin on April 9. These tariffs will apply to gems being shipped to a GIA laboratory in the US, even if only for laboratory services and not for sale.”
The US recently implemented steep “reciprocal” tariffs, including a 27% import duty on Indian goods and 20% on those from the EU. While a Temporary Importation Under Bond (TIB) provision exists to exempt goods not for sale, industry experts have cast doubt on its applicability, asserting there are no valid exemptions for imported goods.
GIA acknowledged the potential confusion caused by these regulatory changes and urged clients to ensure compliance with US import laws. The organization is assessing the situation and considering operational adjustments to maintain service continuity at its international labs. Meanwhile, clients are responsible for any tariff charges incurred when shipping to GIA’s US locations, based on the country where the diamond was substantially transformed.

International News
WGC REPORT :Gold ETF Flows- June 2025
Global gold ETFs’ total AUM rose to a month-end peak and holdings bounced to the highest in 34 months

H1 in review
Global physically backed gold ETFs1 saw inflows of US$38bn during H1, boosted by strong positive flows in June (Chart 1), marking the strongest semi-annual performance since H1 2020.2 All regions saw inflows last month, with North American and European investors leading the charge.
During the first half, North America accounted for the bulk of inflows, recording the strongest H1 in five years. And despite slowing momentum in May and June, Asian investors bought a record amount of gold ETFs during H1, contributing an impressive 28% to net global flows with only 9% of the world’s total assets under management (AUM). European flows finally turned positive in H1 2025 following non-stop semi-annual losses since H2 2022.
By the end of H1 the surging gold price and notable inflows pushed global gold ETFs’ total AUM 41% higher to US$383bn, a month-end record. Collective holdings in H1 grew 397t to 3,616t, the highest month-end value since August 2022 (Chart 2).
Regional overview
North America attracted US$4.8bn in June – the strongest monthly inflow since March – bringing total H1 inflows to US$21bn. Spiking geopolitical risks amid the Israel-Iran conflict boosted investor demand for safe-haven assets and supported inflows into North American gold ETFs. Although it held rates steady in June, the US Fed continued to express concerns about slowing growth and rising inflation.3 Markets are now pricing in three rate cuts by the end of 2025 and an additional two in 2026.
The investor response has been swift: US Treasury yields declined, and the dollar continued to weaken. Persistent policy uncertainty and ongoing fiscal concerns are likely to remain an overhang on the market, which in turn could help support gold ETF demand in the near to medium term.
European inflows continued for a second month, adding US$2bn in June – the strongest since January – and lifting the region’s H1 total to US$6bn. The UK led inflows in the month; although the Bank of England kept rates unchanged at its June meeting, the stance was generally dovish. 4 Combined with weaker growth, easing inflation and the cooling labour market, investors raised their bets on future rate cuts. This resulted in local yields declining and pushed up gold’s allure. Meanwhile, the eighth cut from the European Central Bank, uncertainties surrounding growth, and rising geopolitical risks generally, contributed to gold ETF demand in several major markets.
Asian flows flipped positive in June, albeit only mildly at US$610mn, ending at US$11bn – a record amount for any H1 period. India led inflows in June, likely supported by rising geopolitical risks in the Middle East. Japan recorded inflows for the ninth consecutive month (US$198mn, US$1bn H1), possibly driven by elevated inflationary concerns – particularly when the rice price surged.6 China only saw mild inflows in the month (US$137mn) as trade tensions eased and the local gold price moderated.7 Nonetheless, China’s H1 inflows of US$8.8bn (85t) were unprecedented amid spiking trade risks with the US, growth concerns and the surging gold price.
International News
Gold tug-of-war extends amid trump tariff threats :AUGMONT BULLION REPORT

- Gold prices are currently trapped around the $3270 to $3420 region as the current consolidation pattern continues into the twelfth week. But rebounding dollar, which is driving the lower price action, the possibility of increased trade tensions could provide support.
- Japan has been notified in writing by US President Donald Trump that all Japanese imports into the US will be subject to a 25% duty starting on August 1.
- The leaders of 12 other nations received similar letters, alerting them of the imposition of 25% to 40% tariffs beginning next month.
- Trump’s announcements further damaged risk sentiment, which fueled a new surge in the price of gold, a classic safe-haven asset, as worries of a trade war were rekindled around the world by the repeated tariff threats.
Technical Triggers
- Gold is expected to trade in the range of $3300 (~Rs 96000) and $3400 (~Rs 98500) this week.
- Silver has given a breakout of its range, trading above $37 (~ Rs 108,000). Now next target is $38 (~Rs 111,000)
Support and Resistance
Commodity | Support Level | Resistance Level |
---|---|---|
International Gold | $3250/oz | $3440/oz |
Indian Gold | ₹95,000/10 gm | ₹98,500/10 gm |
International News
Hong Kong luxury jewellery, watches sales slip in May

In May 2025, Hong Kong witnessed a nuanced retail landscape: while total retail sales rebounded modestly, rising 2.4% year on year to HKD 31.32 billion ($3.99 billion), sales of luxury goods—specifically jewelry, watches, clocks, and other valuable gifts—contracted by 3.2% to HKD 3.87 billion ($493.1 million). This divergence offers critical insights into the shifting dynamics of consumer behavior, external macroeconomic pressures, and sector-specific challenges.
Several interrelated factors contributed to the luxury segment’s decline. First, surging gold prices significantly dampened consumer appetite for jewelry purchases, as higher costs discouraged discretionary spending on big-ticket items. Second, demand for luxury products on the Chinese mainland softened, reducing the influx of high-spending tourists traditionally pivotal to Hong Kong’s retail sector. Lastly, increased outbound tourism encouraged local consumers to shop abroad, further eroding domestic sales.
From January to May 2025, hard-luxury sales dropped by 9% to HKD 20.27 billion ($2.58 billion), while overall retail sales fell 4% to HKD 155.05 billion ($19.75 billion). These figures highlight a broader recalibration within Hong Kong’s retail environment, reflecting evolving consumer preferences and economic headwinds.
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