National News
Gold discounts in India widened this week to their highest point in nearly eight months
Gold discounts in India widened this week to their highest point in nearly eight months, as a surge in prices to a record high dampened demand, while customers in other key hubs also remained on the sidelines. Indian dealers this week offered a discount of up to $39 an ounce over official domestic prices, including 6 per cent import and 3 per cent sales levies, up from a discount of $10 to $21 last week.
Indian dealers this week offered a discount of up to $39 an ounce over official domestic prices, including 6% import and 3% sales levies, up from a discount of $10 to $21 last week.
“Jewellers are not keen on building high-cost inventory at the end of the financial year, as they are busy closing accounts,” said a Mumbai-based dealer with a bullion-importing bank. India’s financial year runs from April until March 31.
India’s gold imports are set to tumble 85% in February from year-ago levels, reaching their lowest levels in 20 years, as demand is dampened by record-high bullion prices.
In China, the world’s largest consumer, gold traded at a discount of $1 to an $18 premium over spot prices. Meanwhile, dealers in Hong Kong charged premiums ranging from par to $2 per ounce.In Japan, bullion was sold between a discount of $3 and a premium of $0.5, a trader said. In Singapore, gold traded between a $0.50 discount and a $3 premium
National News
JAS 2026 Opens To A Grand Start; Jaipur & Dubai Strengthen Jewellery Trade Partnership
The Opening Day Witnessed An Exceptional Business Atmosphere, With Packed Exhibition Aisles, Continuous Buyer Interactions, and Enthusiastic Participation From Hosted Buyers
The 20th edition of JAS and its 7th B2B Edition, organised by the Jewellers Association Jaipur, commenced today (on 3rd July 2026 on a grand and enthusiastic note at the Jaipur Exhibition & Convention Centre (JECC), Sitapura. The inaugural day witnessed an overwhelming response from the trade fraternity, with exhibition halls bustling with buyers, retailers, manufacturers and industry professionals from across India and overseas, setting the stage for three days of vibrant business networking and sourcing.


The show was inaugurated by K. P. Abdul Salam, Group Vice Chairman, Malabar Gold & Diamonds, in the august presence of Surjit Bhujabal, Member, Central Board of Indirect Taxes & Customs (CBIC); Tawhid Abdulla, CEO, Jawhara Jewellery, Dubai; and Pramod Kumar Agrawal Derewala, Chairman, National Gems & Jewellery Council of India (NGJCI), as Guests of Honour.



The distinguished guests were warmly welcomed by Raju Agarwal Mangodiwala, President, Jewellers Association Jaipur; Ajay Godha, Honorary Secretary; Ashok Maheshwari, JAS Convenor; along with the office bearers and executive committee members of the Association.
One of the defining moments of the inaugural ceremony was the signing of a Memorandum of Understanding (MoU) between the Jewellers Association Jaipur (JAJ) and the Dubai Jewellery Group (DJG), paving the way for enhanced cooperation in trade, education, market development, business networking and international collaboration between the gems and jewellery industries of Jaipur and Dubai. Following the signing, Shri Tawhid Abdulla, CEO, Jawhara Jewellery, presented a commemorative memento to Shri Raju Agarwal Mangodiwala, President, Jewellers Association Jaipur, celebrating a new chapter in India-UAE jewellery relations.



A special welcome was extended to the visiting Dubai delegation comprising Anurag Sinha, Managing Director, Al Liali Jewellery; Ashish Garg, Head – Business, KGK Group; Mamtha Maria Francis, General Manager, Dubai Jewellery Group; and Tirth Jasani, General Manager, Lumin Luxe LLC, reaffirming the growing strategic partnership between Jaipur and Dubai.
Addressing the gathering, K. P. Abdul Salam applauded Jaipur’s unmatched expertise in coloured gemstones, stating that the city has earned global recognition as the finest centre for gemstone cutting and craftsmanship. He encouraged the industry to continue innovating and strengthening its international presence while creating greater value for global buyers.
Tawhid Abdulla welcomed stronger collaborations between Jaipur and Dubai. He encouraged Jaipur’s gemstone sector to work towards developing globally recognised branded gemstone grading and certification systems, which would further elevate consumer confidence and international acceptance. He also invited Jaipur’s manufacturers and exporters to explore greater business opportunities in Dubai, assuring the industry’s wholehearted support in building stronger trade relations and opening new avenues for collaboration.
The opening day witnessed an exceptional business atmosphere, with packed exhibition aisles, continuous buyer interactions and enthusiastic participation from hosted buyers, domestic retailers and international delegates. Exhibitors reported encouraging enquiries and strong business interest from the very first day, reflecting the confidence the industry places in JAS as one of India’s leading B2B jewellery exhibitions.
With an outstanding inaugural response and tremendous energy across the show floor, JAS 2026 has set a strong foundation for the next two days, promising even greater business opportunities, meaningful networking and international collaborations for the global gems and jewellery fraternity.
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