National News
Gold and Silver Prices Rise in Domestic Futures Market Amid Global Cues
Gold and silver prices edged higher in the domestic futures market on Tuesday morning, supported by weakness in the US dollar and fresh global developments.
At 9:10 AM, MCX Gold October 3 contracts were trading 0.27% higher at Rs.100,897 per 10 grams, while MCX Silver September 5 contracts gained 0.31% to reach Rs.1,16,314 per kg.
The uptick follows political and monetary shifts in the United States. US President Donald Trump’s decision to dismiss Federal Reserve Governor Lisa Cook over alleged mortgage borrowing misconduct, coupled with Fed Chair Jerome Powell’s dovish stance at the Jackson Hole Symposium, weighed on the dollar and boosted safe-haven demand.
In his August 22 address, Powell signaled a pivot from inflation concerns to prioritizing the US job market, reinforcing expectations of a potential rate cut in September. Gold responded with a strong rebound, closing 1% higher at $3,372 on Friday and recording a weekly gain of 1.1% as of August 22.
Market analysts suggest that bullion may continue to find support in the near term as investors track global monetary policy signals and geopolitical shifts.
National News
GJEPC Unveils GCC Customs Guide for Gem & Jewellery Exporters
Comprehensive Guide Details Duties, VAT, Compliance Norms and FTA Benefits to Streamline India–Gulf Jewellery Trade
GJEPC has released a GCC Customs Guide covering import procedures for the UAE, Saudi Arabia, Qatar, Oman, Bahrain and Kuwait, to help exporters navigate compliance requirements and shipment planning.
The GCC remains a key market for India, with exports of about $8 billion in FY 2024-25, contributing nearly 27% of global shipments from the sector. The guide outlines customs duties, VAT Structures, Documentation Norms, Hallmarking and Assay Rules, Kimberley Process and CITES Compliance, Temporary Import Provisions, Port Procedures and Clearance Timelines.
The guide notes that GCC countries broadly follow a 5% import duty regime, with country-specific VAT and regulatory requirements, while CEPA and FTA benefits are available in markets such as the UAE and Oman subject to origin documentation.
Designed as a practical reference, the guide aims to reduce customs delays, compliance costs and entry barriers, particularly for new exporters targeting the Gulf region.
source:GJEPC
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