National News
GJEPC Collaborates with Delhi Customs to Streamline Jewellery Export via Personal Carriage
Follow-up meeting focuses on refining SOPs under Circular No. 09/25 – Customs to ease export processes through Delhi’s Precious Cargo Warehouse
On 15 April, a delegation from the GJEPC Northern Regional Office met with senior officials of Delhi Customs to further refine Standard Operating Procedures (SOPs) for the import and export of jewellery via personal carriage. This discussion followed an initial meeting held on 9 April and focused on the implementation of Circular No. 09/25 – Customs, dated 28 April 2025, with the goal of issuing a comprehensive public notice for the trade.
Key customs officials present included Mr. Dheeraj Rastogi, IRS, Principal Commissioner – Exports; Ms. Ashima Bansal, IRS, Commissioner – ACC Export; Mr. Vishal Pal Singh, IRS, Commissioner – Airport; Mr. Dibyalok Singh, IRS, Deputy Commissioner – ACC Shed; and Mr. Anuj Kumar Pandey, IRS, Additional Deputy Commissioner – Airport. Representing the GJEPC were Mr. Antarpal Singh Sawhney, Regional Chairman – North, and Mr. Anil Sankhwal, Convener, Studded Jewellery Panel.
The meeting primarily addressed ways to optimise the draft SOPs for hand-carried jewellery exports through the Precious Cargo Warehouse (PCW) operated by Celebi at Delhi Airport. GJEPC representatives proposed practical solutions to remove procedural bottlenecks and speed up customs clearance. Among their key requests was the establishment of a dedicated detention room for appraised parcels within the Central Warehousing Corporation (CWC) cargo shed to reduce delays and improve exporter convenience.
Customs officials, led by Mr. Rastogi, responded positively to the recommendations and assured the delegation of due consideration. They also advised GJEPC to initiate discussions with CWC for space allocation to implement the suggested changes effectively.
National News
MCX Gold, Silver Futures Enter Period Of Consolidation Following Two-Week Ceasefire
MCX Gold- June 2026 Delivery Slips 0.5% on Liquidity Pressures and Geopolitical Tensions
On the MCX, gold and silver futures have entered a period of consolidation following the recent announcement of a two-week ceasefire between the United States and Iran. During Friday’s session, MCX Gold for June 2026 delivery slipped 0.5% to trade at Rs. 1,53,434 per 10 grams, while silver for May 2026 delivery fell by Rs. 1,701 to Rs. 2,42,067 per kg. Despite the pause in formal hostilities, market participants remain cautious as the ceasefire faces immediate stress from ongoing naval tensions in the Strait of Hormuz and reports of continued military operations in Lebanon.
This recent volatility follows a historic downturn in March, where gold prices plummeted 12% to $4,608 per ounce—the metal’s weakest monthly performance since 2013. According to the World Gold Council, this “counter-intuitive” sell-off occurred despite high geopolitical risk, driven primarily by a desperate need for liquidity and massive deleveraging across global asset classes.
While the near-term outlook remains sensitive to the stability of the Middle East truce, early April has shown signs of a stabilizing floor, supported by positive ETF inflows. However, with domestic prices still below their lifetime highs, experts suggest that a push toward the $5,000 per ounce milestone remains a distant target until clear regional stability is achieved.
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