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 Gains Rs 85 On MCX; Silver Jumps Rs 2,033 On Softer US Inflation Data
Gold Recovered After Opening On A Weak Note, While Silver Extended Its Gains. In International Markets, Gold Eased After Opening Firm, Whereas Silver Continued To Trade Higher.
Gold and silver futures traded higher in the domestic market on Monday, supported by softer US inflation data, declining crude oil prices and easing expectations of further interest-rate hikes by the US Federal Reserve.
Gold recovered after opening on a weak note, while silver extended its gains. In international markets, gold eased after opening firm, whereas silver continued to trade higher.
On the Multi Commodity Exchange (MCX), the benchmark October gold contract opened at Rs 1,51,793 per 10 grams, down Rs 27 from its previous close of Rs 1,51,820. The contract later recovered and was trading at Rs 1,51,905 per 10 grams, up Rs 85. During the session, it touched a high of Rs 1,51,947 and a low of Rs 1,51,461.
Silver futures opened higher, with the benchmark September contract starting at Rs 2,31,799 per kg, up Rs 333 from the previous close of Rs 2,31,466. The contract subsequently climbed to Rs 2,33,499 per kg, recording a gain of Rs 2,033. It touched an intraday high of Rs 2,33,618 and a low of Rs 2,31,660.
In the global market, gold was trading near $4,400 per ounce on Comex, while silver was quoted at around $63.70 per ounce.
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