National News
GJEPC Delhi launches 3rd Batch of GJ Export Training Programme
GJEPC’s Northern Regional Office successfully launched the third batch of its training programme, “How to Start Exports of Gems and Jewellery.” Designed as a hybrid model, the programme offers one- and three-day sessions aimed at equipping aspiring exporters with practical insights into the export process.
The latest batch saw the participation of 13 students, with 6 attending online and 7 offline. Shri Antarpal Singh Sawhney, Regional Chairman (North), GJEPC, interacted personally with the participants, sharing industry experiences and motivating them to confidently embark on their export journeys.
National News
Precious Metals Soar, Oil Plunges On US-Iran Peace Deal
Global Concerns Regarding The Energy Crisis, Inflationary Pressures, and Aggressive Rate Hike Trajectories Have Significantly Eased.
A confirmed peace agreement between the US and Iran has triggered massive waves across global markets, easing energy crisis fears and altering the global economic outlook ahead of major central bank meetings. Driven by strong global bullish sentiment, gold and silver hit massive milestones on the MCX and spot markets: MCX Gold: Up 2% (~Rs 2,300), nearing the Rs 1.54 lakh mark. MCX Silver: Outperforming with a 3% upside (~Rs 6,000), crossing Rs 2.53 lakh. US Spot Gold: Surged over 2.5% to trade above $4,300/oz. Spot Silver: Zoomed over 4% to trade above $70.5/oz.
Oil prices nosedived following President Trump’s announcement that a US blockade on Iranian ports would be lifted, allowing Persian Gulf shipments to resume soon.
- Brent Crude: Dropped 5% to $83/bbl as the Strait of Hormuz prepares to reopen.
- US WTI Crude: Slipped 6% to trade around $80/bbl.
- MCX Crude: Crashed by 5.5%.
- The Accord: The formal treaty to end the conflict (active since late February) is scheduled to be signed in Switzerland on June 19. It includes blockades being lifted, sanctions relief for Iran, and the dismantling of Tehran’s nuclear program.
- Macro Relief: Global concerns regarding the energy crisis, inflationary pressures, and aggressive rate hike trajectories have significantly eased.
- Central Bank Watch:
- US Fed: Holding its first policy meeting under new chair Kevin Warsh this week; rates are widely expected to remain unchanged.
- Bank of Japan: Expected to buck the trend and raise rates to support the Yen.
- Reserve Bank of Australia: Expected to hold policy steady.
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