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
MCX Gold, Silver Decline On US-Iran Peace Deal
Investors Remain Cautious As Details Of Friday’s Peace Agreement Are Limited, Leaving It Unclear How Quickly Shipping Routes and Commodity Exports Will Return To Normal.
Gold and silver prices snapped their three-day winning streak on Tuesday, opening lower on the Multi Commodity Exchange (MCX). The market pulled back marginally as investors sought further clarity following the announcement of a preliminary peace agreement between the United States and Iran.
MCX Gold Futures (August 2026): Traded down 0.08% at Rs 1,52,789 per 10 grams MCX Silver Futures (July 2026): Dropped 0.73% to trade at Rs 2,49,623 per kg, breaking its recent gaining streak.
U.S. President Donald Trump said on Monday a preliminary agreement to end the war in the Gulf has been signed by the U.S. and Iran, though details have yet to be made public and both countries said a permanent truce is yet to be negotiated.
Following a U.S.-Iran peace deal, traders have lowered the chances of a December U.S. rate hike to 57%, down from 70% last week.Ahead of the Bank of Japan’s interest rate decision, the U.S. dollar held near 10-day lows. Investors are also focused on Wednesday’s Federal Reserve policy meeting—the first under new Chair Kevin Warsh—where interest rates are expected to stay unchanged.
While global gold prices remain steady near recent highs, analysts expect domestic prices to fluctuate due to shifting oil prices, the dollar index, and upcoming Fed signals. Meanwhile, investors remain cautious as details of Friday’s peace agreement are limited, leaving it unclear how quickly shipping routes and commodity exports will return to normal.
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