National News

GJEPC Delhi hosts Amritsar outreach to boost jewellery exports and IIBX adoption

Published

2 years ago

April 14, 2025

GJEPC’s Delhi Regional Office, in collaboration with Regional DGFT and IIBX, conducted an outreach program in Amritsar on 11th April 2025, to promote GJEPC’s initiatives and the process of duty-free precious metal procurement via the India International Bullion Exchange Ltd. (IIBX). The outreach program was attended by over 70 participants.

Antarpal Singh Sawhney, Regional Chairman North, GJEPC, urged aspiring exporters to embrace global markets and highlighted the Council’s export training program scheduled for 28-30 April 2025.. Sanjeev Bhatia, Regional Director, emphasised the necessity of global engagement and GJEPC membership, noting the recent notification of Amritsar Customs as a precious metal and jewellery shipment port due to the Council’s efforts.

Ranjit Singh, Head Product Development, IIBX and Mr. Mukesh Sharma, Head Business Development, Northern Region, IIBX, detailed the online procedure for acquiring precious metals through IIBX.

National News

Precious Metal Futures Continued Their Downward Momentum

Rising Crude Oil Prices and Aggressive Global Selling Push Domestic Futures Sharply Lower; MCX Silver Slips Near ₹1.93 Lakh/Kg While Gold Hits Intraday Low Of ₹1,41,806 Per 10 Grams.

Published

2 hours ago

October 23, 2026

JewelBuzz Spread The Buzz

Precious metal futures continued their downward momentum on Friday, October 23, 2026, driven lower by elevated international crude oil prices and persistent selling pressure across global commodity markets.

MCX Gold & Silver Highlights

Gold Futures: The October 5 Gold contract on the Multi Commodity Exchange (MCX) opened with a steep gap down of Rs 1,251 at Rs 1,42,058 per 10 grams against its previous close of Rs 1,43,309. It extended losses to touch an intraday low of Rs 1,41,806 (down 1.04%) before stabilization near Rs 1,41,894. Gold futures for February 2026 also fell 1.03% (down Rs 1,498) to Rs 1,44,437 per 10 grams across 762 lots.

Silver Futures: Silver maturing on December 4, 2026, fell sharply by 3.40% to hit an intraday low of Rs 1,92,800 per kg before recovering slightly to trade around Rs 1,93,598 per kg—down Rs 6,001 (3.01%) from its previous close of Rs 1,99,599.

MCX gold opened with a gap down near Rs 1,42,060 and is trading around Rs 1,42,450, recovering modestly from its opening low. The Rs 1,43,000–1,43,700 range, which previously acted as support, now forms immediate resistance. On the downside, support lies at Rs 1,40,000–1,41,000.

In international markets, COMEX gold dropped 0.73% to approximately $4,030.90 per troy ounce. Spot gold traded down by 0.85% ($34.31 lower) at $4,010.41 per ounce.