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 $3 premium
National News
GJ Exports Show Signs Of Stabilization Amid Global Headwinds With A Rise Of 26.51% In June 2026; Imports Also Rise By 10.06% In The Same Period
The Overall Gems & Jewellery Exports Witnessed A Rise After A Prolonged Downtrend And Indicates A Revival In Overseas Demand Dynamics
The overall gross gems & jewellery exports grew by 26.51% to US$ 2212.65 million (Rs. 21010.78 crores) in June 2026 after a long trail of decline. Quarterly performance of the April to June 2026 period also reflects a positive sign, with a rise of 0.04% to US$ 6612.21 million (Rs. 62588.61 crores) as compared to last year.
Here are the important points highlighted from the provided performance report for the Indian gems and jewellery sector in June 2026 and the April-June 2026 quarter:
Overall Sector Performance
- Export Revival: Overall gross gems and jewellery exports broke a prolonged downtrend, growing by 26.51% in June 2026 to US$ 2,212.65 million.
- Quarterly Growth: The April–June 2026 period stabilized with a marginal rise of 0.04% to US$ 6,612.21 million year-on-year (YoY).
- Imports: Gross imports grew by 10.06% in June 2026, though the cumulative April–June period saw a 5.9% decline YoY.
Diamonds (Natural vs. Lab-Grown)
- Cut & Polished Diamonds (CPD):
- June 2026 exports grew by 8.71% to US$ 846.73 million.
- Quarterly volume (Apr–Jun) increased by 8.98% (39.88 lakh carats), though cumulative value dipped slightly by 4.13% (681.76.
- Quarterly imports surged by 66.13%, showcasing a clear preference for Special Economic Zones (SEZs) over Domestic Tariff Areas (DTAs).
- Rough Diamonds: Imports continued to decline (-27.11% in June; -32.42% for the quarter) as manufacturers focused on clearing existing inventory amid volatile overseas demand.
- Polished Lab-Grown Diamonds (LGD): Continued a massive growth surge, with June exports up 52.25% and quarterly value up 14.92% (volume up 31.97%). LGDs are rapidly emerging as a highly lucrative, price-conscious alternative to natural diamonds.
Gold, Silver & Platinum Jewellery
- Gold Jewellery: June 2026 exports spiked by 54.50% to US$ 1,087.74 million, driven by stabilizing global buyers’ sentiments.
- Plain Gold: June exports grew 25.34%, but the quarter fell 23.30% due to mixed monthly trends earlier in the year.
- Studded Gold: Experienced stellar growth, rising 85.35% in June and 20.10% for the overall quarter.
- Silver Jewellery: Retains strong momentum as the preferred affordable alternative to gold, maintaining robust double-digit YoY growth.
- Platinum Jewellery: Quarterly exports jumped 27.66% to US$ 58.67 million, fueled by international demand for premium, cost-effective contemporary jewellery.
Alternative Categories & Investment
- Coloured Gemstones: Quarterly exports dropped 15.0% to US$ 82.25 million, largely hampered by temporary international logistical barriers rather than a drop in core demand.
- Gold Medals & Medallions: Quarterly exports skyrocketed by 86.42% to US$ 1.81 million, underscoring strong overseas investor sentiment using gold as a hedge against global inflation.
Outlook
The strong June performance indicates a reinstatement of international demand and points toward highly positive holiday season sales moving into the October–December quarter.
GJ Exports Show Signs Of Stabilization Amid Global Headwinds With A Rise Of 26.51% In June 2026; Imports Also Rise By 10.06% In The Same Period
De Beers Suspends Production At Venetia Mine Amid Global Diamond Market Slowdown
Certificate Ceremony Held To Recognize The First Jewellery Import Shipments Under The India–UK CETA
De Beers Suspends Production At Venetia Mine Amid Global Diamond Market Slowdown
GJ Exports Show Signs Of Stabilization Amid Global Headwinds With A Rise Of 26.51% In June 2026; Imports Also Rise By 10.06% In The Same Period
Certificate Ceremony Held To Recognize The First Jewellery Import Shipments Under The India–UK CETA
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International News18 hours agoDe Beers Suspends Production At Venetia Mine Amid Global Diamond Market Slowdown
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National News10 minutes agoGJ Exports Show Signs Of Stabilization Amid Global Headwinds With A Rise Of 26.51% In June 2026; Imports Also Rise By 10.06% In The Same Period
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International News22 hours agoCertificate Ceremony Held To Recognize The First Jewellery Import Shipments Under The India–UK CETA
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