National News
GJEPC’s first Riyadh BSM draws top Saudi jewellery retailers
The inaugural Diamond and Jewellery Buyer Seller Meet (BSM) by GJEPC officially commenced on 2nd February 2026, creating a focused business platform for Indian exporters to engage directly with leading Saudi retailers.
The event opened with a ribbon-cutting ceremony led by H.E. Dr. Suhel Ajaz Khan, Ambassador of India to the Kingdom of Saudi Arabia, along with HRH Tarfa Al Saud from the Zakat, Tax and Customs Authority, Haya Al-Sunaidi of the Ministry of Investment Saudi Arabia, and Atif, representing the General Authority of Foreign Trade Saudi Arabia.
The first edition features 10 Indian exhibitors and saw strong participation from prominent Saudi retailers, particularly Riyadh-based buyers, reflecting healthy local demand for diamond jewellery.
As the first BSM of its kind in the capital, the meet offers Indian companies a direct route into Saudi Arabia’s growing luxury jewellery market while strengthening bilateral trade ties.
source : GJEPC
National News
MCX Gold and Silver Decline Ahead Of Key US Economic Data
Investors Are Waiting For Upcoming US Inflation Reports and The Next US Federal Reserve Policy Meeting Before Making Big Moves.
Gold and silver prices slipped on India’s Multi Commodity Exchange (MCX) on Thursday morning. Investors are waiting for upcoming US inflation reports and the next US Federal Reserve policy meeting before making big moves.
MCX Gold (October Futures): Down 0.03% to Rs 1,53,710 per 10 grams. MCX Silver (December Futures): Down 0.39% to Rs 2,43,249 per kg.
Awaiting US Data: Traders are watching US inflation metrics—specifically the producer and consumer price indexes—to guess whether the Fed will change interest rates. Most market analysts expect the Fed to keep interest rates unchanged at its September meeting.
Global Market Split: While Indian prices fell slightly, international gold prices actually edged higher. A weaker US dollar made gold cheaper for buyers using other currencies, giving global prices a small boost despite rising oil prices and bond yields.
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