National News
Gold consolidates in the $50 range before a decisive move: Augmont Bullion Report
Gold prices are consolidating in a range between $2885 and $2935, spurred by a weaker US dollar and safe-haven flows as fears about the US economy grow amid growing trade tensions.
Concerns over a probable economic slowdown were heightened after President Donald Trump stated that the US economy was in a moment of transition while refusing to rule out the chance that his policies would create a recession.
This comes after the United States delayed imposing 25% tariffs on several Canadian and Mexican imports for a month, while Canada maintained its first retaliatory measures. China also levied further duties on some American agriculture products in reaction to Trump’s latest tariff increases on Chinese imports. Meanwhile, Fed Chair Jerome Powell acknowledged increased economic uncertainties but expressed no need to decrease interest rates.
Investors are now looking forward to US inflation statistics later this week, which may impact the Fed’s monetary policy position.
Technical Triggers
Gold prices are consolidating in a range between $2885(~Rs 85400) and $2935(~Rs 86200), prices need to break this range for decisive move towards upside momentum of $2975 (~Rs 87000).
Silver May Futures is gaining strength and if sustains above $330(~Rs 96700), the next target is $340(~Rs 100,000), and once it sustains above that, it can head higher towards $350(~Rs 103,000).
National News
GJEPC Holds 60th AGM, Reviews FY2025-26 Performance and Industry Priorities
The AGM, Reviewed The Council’s Performance During FY2025-26 and Discussed Key Priorities For Strengthening India’s GJ Exports and Global Market Presence.
The Gem & Jewellery Export Promotion Council (GJEPC) held its 60th Annual General Meeting (AGM) on September 23, 2026, at the Bharat Diamond Bourse, Mumbai, bringing together Council officials and members in a hybrid format.
The AGM, chaired by Kirit Bhansali, Chairman, GJEPC, reviewed the Council’s performance during FY2025-26 and discussed key priorities for strengthening India’s gem and jewellery exports and global market presence.
India’s total gem and jewellery exports stood at US$27.72 billion in FY2025-26, with key markets including the UAE, Hong Kong, Australia, Canada and France recording strong demand for studded gold, silver and platinum jewellery.
Addressing the AGM, Kirit Bhansali, Chairman, GJEPC, said:
“The foundation we have built — in policy, infrastructure, talent, and global relationships — puts India in a strong position to regain and grow its export potential.”
Expanding Global Market Access
GJEPC highlighted India’s growing access to international markets through four FTAs signed with the UK, EU, Oman and New Zealand, alongside the UAE CEPA and Australia ECTA, providing zero or near-zero duty access to important markets.
The Council also highlighted initiatives undertaken to expand market reach, including SJAEX 2025, the India-UK Buyer-Seller Meet, India-Riyadh Studded Jewellery BSM and IIJS Bharat, which also witnessed first-time delegations from Kazakhstan and Vietnam.
Focus on Infrastructure and Future Growth
The Council outlined its focus on strengthening the industry ecosystem through initiatives including JewelStart, Bharat Ratnam Mega CFC, India Jewellery Park Mumbai, as well as new e-commerce and hand-carry frameworks.
GJEPC’s membership also increased to 10,910, reflecting the Council’s expanding industry base.
During the AGM, the audited financial statements for FY2025-26 were adopted. CNK & Associates LLP was proposed as the statutory auditor for five years, while 10 Directors’ appointments were regularised.
The AGM reaffirmed GJEPC’s focus on export growth, global market expansion, infrastructure development and strengthening India’s position in the international gem and jewellery trade.
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