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
Precious Metals rebound back from crucial support levels AUGMONT BULLION REPORT
- Safe Heaven Dynamics – Gold rebounding above $5000 and silver above $80 reflects renewed safe-haven demand after a sharp correction. However, upside remains capped as fading expectations of near-term US rate cuts increase real yields, raising the opportunity cost of holding Gold and Silver. This creates a tug-of-war between geopolitical support and monetary headwinds, leading to volatile but range-bound price action.
- Geopolitical Developments – The prolonged US–Israel–Iran conflict, particularly threats to Iran’s oil infrastructure at Kharg Island, has kept crude prices elevated. Higher energy prices are feeding inflation concerns, reducing the likelihood of aggressive monetary easing. While geopolitical risk supports gold and silver, persistent inflation fears indirectly pressure prices by strengthening the dollar and bond yields.
- Monetary Policy stance – The Federal Reserve and other major central banks maintaining a pause signals a “higher-for-longer” rate environment. This limits immediate upside in precious metals by keeping real interest rates elevated. However, any shift toward dovish guidance or delayed tightening could quickly revive bullish momentum, making policy signals the key trigger for the next directional move.
Technical Triggers
- Gold briefly broke the key $5000 (~Rs.157,000) support but failed to sustain lower levels, indicating near-term consolidation. However, short-term bias remains bearish with strong support seen around $4850 (~₹150,000).
- Silver also slipped below $80 (~Rs.255,000) but recovered quickly. A renewed break below $77 (~Rs.247,000) could trigger further profit-booking, dragging prices towards $70 (~Rs.230,000) in the near term.
| Metal | Market | Support Level | Resistance Level |
|---|---|---|---|
| Gold | International | $4850 / oz | $5250 / oz |
| Gold | Domestic | ₹158,500 / 10 gm | ₹165,000 / 10 gm |
| Silver | International | $77 / oz | $85 / oz |
| Silver | Domestic | ₹247,000 / kg | ₹268,000 / kg |
Source:AUGMONT BULLION REPORT
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