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Gold and Silver Surge On U.S. Treasury Debt Buybacks

Front-Month Gold Futures Traded Higher, Hitting Their Strongest Level In Three Months As Debt-Market Dynamics Spurred Safe-Haven and Inflation-Hedge Buying.

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On the Multi Commodity Exchange (MCX), gold futures were trading near Rs 1,63,150 per 10 gram while silver futures were around Rs 2,45,700 per kg.

Gold futures opened higher on MCX. The benchmark October gold contract opened at Rs 1,63,202 per 10 gram, up Rs 320 from the previous close of Rs 1,62,882.The contract was trading at Rs 1,63,136, up Rs 254. During the session, it touched a high of Rs 1,63,202 and a low of Rs 1,62,021. Gold futures had touched their highest level of the year at Rs 1,80,779.

Silver futures also opened higher. The benchmark September silver contract on MCX opened at Rs 2,45,583 per kg, up Rs 1,456 from the previous close of Rs 2,44,127.

Gold and silver futures advanced Wednesday, lifted by a surge in bullion prices to a three-month peak following an unexpected move by the U.S. Treasury to expand buybacks of long-term government debt.

The announcement triggered a pullback in benchmark yields, bolstering investor appetite for non-yielding precious metals across international markets.

Precious Metals Summary

  • Gold Advances: Front-month gold futures traded higher, hitting their strongest level in three months as debt-market dynamics spurred safe-haven and inflation-hedge buying.
  • Silver Tracks Higher: Silver futures followed suit, posting solid gains in tandem with bullion amid broad dollar softening.
  • Global Market Strength: Spot and derivative contracts across major overseas exchanges remained firmly in positive territory, supported by shifting interest-rate expectations.
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GJC lauds GST 2.0, says it is landmark reform that ushers in a new era of trust, transparency, for GJ  sector

It reflects the government’s commitment to ease of doing business and provides jewellers with the confidence to focus on growth, innovation, and customer service.

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Rajesh Rokde, Chairman -GJC issued a statement on The 57th GST Council recommendation. Which included  a series of measures to simplify tax administration, accelerate refunds and reduce compliance costs, with potential benefits for India’s gem and jewellery manufacturers, exporters, wholesalers and retailers.

The statement read:

GST 2.0 is a landmark reform that ushers in a new era of trust, transparency, and efficiency for the gems and jewellery sector. It reflects the government’s commitment to ease of doing business and provides jewellers with the confidence to focus on growth, innovation, and customer service.

 These progressive steps will strengthen industry credibility, safeguard livelihoods, and contribute to sustainable development across India. The Council’s recommendations comprehensively address areas that jewellers have long sought reform in — from smoother movement of goods in transit and faster automated refunds that improve cash flow, to fairer notices that reduce litigation and ensure natural justice.

The rationalization of penalties, reduction of the general penalty cap, and recognition of employee insurance ITC reflect a balanced approach that values both compliance and care for our workforce. Most importantly, the withdrawal of arrest powers and the increase in prosecution thresholds will instill greater trust and confidence across the trade.

 Together, these measures will reduce disruption, improve working capital, safeguard livelihoods, and create a more supportive business environment. GJC wholeheartedly welcomes GST 2.0 as a forward-looking framework that empowers jewellers, enhances industry credibility, and contributes to sustainable growth for one of India’s most vital sectors

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