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 and Silver Prices Drop Post-Dussehra On Stronger US Dollar
Precious Metals Dip On Strengthening US Dollar, Persistent Global Inflation Concerns, and Shifting Interest Rate Expectations —
Gold and silver prices opened lower on the Multi Commodity Exchange (MCX) on Wednesday following the Dussehra festival, pulled down by a strengthening US dollar, persistent global inflation concerns, and shifting interest rate expectations from the US Federal Reserve.
Gold futures fell by Rs 223 to trade at Rs 1,46,296 per 10 grams on the MCX, mirroring weak sentiment across overseas bullion markets. Silver experienced a sharper decline, tumbling by Rs 1,373 to trade at Rs 2,10,112 per kilogram.
Market Summary
Gold (MCX): Down Rs 223 at Rs 1,46,296 per 10 grams.Silver (MCX): Down Rs 1,373 at Rs 2,10,112 per kilogram.
Global Benchmark: Both metals traded weaker across international exchanges as the US dollar gained strength.
Primary Drivers: A firm US dollar index, sticky global inflation concerns, and hawkish signals surrounding the US Federal Reserve’s rate trajectory continue to exert downward pressure on precious metal valuations post-festive demand.
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