International News
Gold and silver surge to record highs driven by growing expectations of U.S. interest rate cuts
Gold and silver prices soared to new all-time highs in India on Monday, driven by growing expectations of U.S. interest rate cuts in the coming months, which could weaken the dollar. Heightened geopolitical tensions and tariff-led trade concerns further fueled the rally, while robust industrial demand lent additional support to silver, analysts said.
In global markets, gold surged past the $3,750/oz mark, setting a fresh record and edging closer to $3,800, while silver spiked above $44/oz, its highest level in 14 years.
Mirroring the global uptrend and compounded by a weaker rupee, domestic futures hit record levels on MCX: October gold futures neared Rs.1.12 lakh per 10 gm, and December silver futures touched Rs.1.33 lakh per kg, marking historic peaks for both precious metals.
Traders said the momentum is likely to continue in the near term, with festive demand in India potentially adding a further boost to gold consumption. Silver, already buoyed by industrial demand, could see continued investor interest as both a commodity and a hedge.
The US Fed’s 25 basis points rate cut and prospects of additional easing by year-end have boosted sentiment for gold, while a subdued dollar index and weaker rupee added momentum. Persistent central bank purchases, strong ETF inflows, and safe-haven buying have further fuelled the precious metals’ strength,
Industry analysts remain cautiously optimistic, highlighting that while global uncertainties and dovish U.S. monetary expectations are currently propelling prices, sustained volatility cannot be ruled out. Investors are advised to track the upcoming U.S. Federal Reserve policy meetings, global inflation data, and geopolitical developments, all of which will be key in determining the trajectory of precious metals.
International News
GJEPC Auckland Visit Targets Growth In India-NZ Jewellery Trade
The Opportunity In New Zealand Is Significant Relative To The Current Level Of Jewellery Trade. India’s Gem and Jewellery Exports To New Zealand Rose 50.56% To US$25.46 Million In FY2025-26, From US$16.91 Million In FY2024-25.
The GJEPC trade delegation’s Auckland programme has highlighted the scope for expanding India’s gem and jewellery exports to New Zealand as the two countries move towards implementing their recently concluded Free Trade Agreement (FTA).
The Auckland visit was part of GJEPC’s Australia and New Zealand trade delegation, held from 20-26 August 2026, with the delegation focused on connecting Indian manufacturers and exporters with buyers and industry stakeholders across the two markets.
The opportunity in New Zealand is significant relative to the current level of jewellery trade. India’s gem and jewellery exports to New Zealand rose 50.56% to US$25.46 million in FY2025-26, from US$16.91 million in FY2024-25.
The recently concluded India-New Zealand FTA is expected to create further opportunities for Indian exporters. New Zealand has committed to duty-free access for Indian exports across 100% of its tariff lines once the agreement enters into force.
On 26th August, Vijay Mangukiya, Convener – International Events, GJEPC and leader of the delegation, met Dr. Madan Mohan Sethi, Consul General of India in Auckland. Mangukiya has said the delegation was aimed at bringing Indian manufacturers and exporters closer to buyers and industry stakeholders in both Australia and New Zealand, with the objective of identifying new business opportunities and developing long-term partnerships.
The delegation’s Auckland market visits covered a broad cross-section of the local jewellery sector, including Michael Hill, Wallace Bishop, Hardy Brothers, Prouds, and Partridge Jewellers. The delegation also observed international luxury and contemporary jewellery brands including Van Cleef & Arpels, Roberto Coin, Messika and FOPE, reflecting the competitive environment in which Indian exporters would be seeking to establish or expand relationships.
India’s exports of individual jewellery categories to New Zealand also recorded strong growth in FY2025-26. Gold jewellery exports rose 84% to US$17.47 million, while silver jewellery exports doubled to US$0.91 million. Lab-grown diamond exports rose 2% to US$0.63 million, and imitation jewellery increased 13.16% to US$0.43 million. Cut and polished diamond exports were US$5.76 million.
The figures underline the growing contribution of finished jewellery to India’s New Zealand business. With the FTA expected to improve market access and the Auckland market showing demand across gold, diamonds, coloured stones, pearls and branded jewellery, GJEPC’s delegation is seeking to convert this existing growth into deeper commercial relationships.
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