National News
GJEPC Chairman Meets New Customs Commissioner to Strengthen Trade Facilitation
Mr. Kirit Bhansali welcomes Commissioner Santosh Kumar Mishra, discussing industry challenges and reaffirming collaborative efforts for smoother gem and jewellery trade.
The Gem & Jewellery Export Promotion Council (GJEPC) extended a warm welcome to Mr. Santosh Kumar Mishra, the newly appointed Commissioner of Customs at the Precious Cargo Customs Clearance Centre (PCCCC), during a meeting with Mr. Kirit Bhansali, Chairman of GJEPC.
During the meeting, Mr. Bhansali addressed several critical issues currently affecting exporters and importers in the gem and jewellery sector. He emphasized the need for continued support from the Customs department to ensure streamlined and efficient trade processes.
Commissioner Mishra expressed his appreciation for the constructive dialogue and assured the industry’s stakeholders of his department’s unwavering commitment to enhancing the ease of doing business. He stated, “When you flourish, we flourish, and the country flourishes,” underlining the significance of a strong, collaborative relationship between Customs and trade organizations like GJEPC.
The meeting concluded on a positive note, setting the stage for strengthened cooperation and proactive engagement to address industry concerns and enable seamless operations in India’s gem and jewellery trade ecosystem.
National News
Gold Prices Decline On Easing Global Tensions
Gold and Silver ETFs Face Selling Pressure As Easing Geopolitical Risks, A Stronger US Dollar, and Hawkish Fed Signals Weigh On Bullion Prices; IBJA Releases Latest Indicative Retail Rates
Gold prices have experienced a downward trend this week, driven by a significant easing of global geopolitical tensions following the recent US-Iran peace agreement and the ceasefire between Israel and Lebanon.
Gold and silver exchange-traded funds (ETFs) came under selling pressure on Friday as precious metal prices remained on track for a third consecutive weekly decline.
The weakness followed a stronger US dollar and hawkish signals from the US Federal Reserve, which weighed on bullion prices.
IBJA has released the latest indicative retail selling rates.
| Metal / Purity | Retail Selling Rate |
| Fine Gold (999) / 24K | Rs. 14,497 per gram |
| 22K Gold | Rs. 14,149 per gram |
| 20K Gold | Rs. 12,902 per gram |
| 18K Gold | Rs. 11,743 per gram |
| 14K Gold | Rs. 9,351 per gram |
| Silver (999) | Rs. 2,31,973 per kg |
These baseline rates serve as market indicators and are strictly exclusive of the mandatory 3% Goods and Services Tax (GST) as well as any additional making charges applied by individual jewelers.
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