National News
GJEPC leadership meets Hon’ble Finance Minister to discuss industry growth and key issues
The leadership of the GJEPC met with the Hon’ble Finance Minister, Smt. Nirmala Sitharaman, to discuss pressing issues and the way forward for the gem and jewellery industry. Kirit Bhansali, Chairman, GJEPC, and Shaunak Parekh, Vice Chairman, GJEPC, along with Sabyasachi Ray, Executive Director, GJEPC, engaged in a courtesy meeting with the Hon’ble Minister, highlighting key challenges faced by the industry.
The discussions focused on the inclusion of India Jewellery Park, Mumbai in the harmonised infrastructure list to accelerate industry growth. The leadership also extended an invitation to the Hon’ble Minister to visit the Indian Institute of Gems & Jewellery (IIGJ) Udupi, showcasing the industry’s commitment to skill development and employment generation.
National News
Precious Metal Futures Show Renewed Momentum
Gold Has Reclaimed The Rs1.50 Lakh Level After Coming Under Pressure Earlier This Week. This Shows That Buyers Are Returning At Lower Levels. The Immediate Test Is Whether Gold Can Sustain Above Rs1.50 Lakh.
Retail gold prices across India registered a minor dip today, falling by up to Rs65 per gram across key purities In contrast, precious metal futures showed renewed momentum on the domestic exchange, reclaiming critical resistance levels in morning trade.
On October 7, 2026, retail gold spot prices in India softened across all purities. The price of 24 Carat gold dipped by Rs 65 to Rs 14,957 per gram (Rs 1,49,570 per 10 grams), while 22 Carat gold fell by Rs60 to Rs 13,710 per gram (Rs 1,37,100 per 10 grams). Similarly, 18 Carat gold registered a decline of Rs49, bringing its rate to Rs11,218 per gram (Rs1,12,180 per 10 grams) compared to the previous day’s close.
Despite the minor dip in physical retail rates, the Multi Commodity Exchange (MCX) witnessed positive buying interest:
- MCX December Gold Futures: Rose 0.50% to around Rs 1,50,059 per 10 grams. After opening at Rs 1,48,928, the contract surged to an intra-day high of Rs 1,50,575.
- MCX December Silver Futures: Advanced 0.62% to trade near Rs 2,27,480 per kg.
Gold has reclaimed the Rs1.50 lakh level after coming under pressure earlier this week. This shows that buyers are returning at lower levels. The immediate test is whether gold can sustain above Rs 1.50 lakh.
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