National News
Gold price surges past Rs 1 Lakh/ 10 gm
In a landmark moment for the Indian bullion market, gold prices have surged past the Rs 1 lakh mark per 10 grams, reinforcing the precious metal’s status as a safe-haven investment during times of economic uncertainty. On Friday, Mumbai’s renowned Zaveri Bazaar witnessed an unprecedented rise in the price of 24-carat gold, which now stands at Rs 1,01,000 per 10 grams—marking the highest ever recorded in India’s history.
This significant increase is largely attributed to a confluence of international and domestic factors. Market experts suggest that rising global gold prices, coupled with expectations of potential interest rate cuts in the United States and Europe, have played a pivotal role in boosting demand. Additionally, a weakening US dollar and ongoing geopolitical tensions, particularly in the Middle East, have further cemented gold’s appeal among investors seeking stability in volatile times.
While this surge may be welcomed by investors, it poses a financial challenge for everyday consumers, especially during the current wedding season. As gold becomes increasingly expensive, middle-class buyers may find it harder to afford new jewellery. In fact, several gold traders have reported a noticeable dip in demand for newly crafted ornaments, with many customers choosing instead to liquidate existing gold assets to take advantage of the high prices.
Looking ahead, the trajectory of gold prices remains uncertain. If global instability continues and investor demand holds strong, experts believe that prices could climb even higher. On the other hand, some analysts foresee a potential cooling-off period, citing the likelihood of profit booking by investors who may now choose to capitalize on the recent surge.
In conclusion, the current rally in gold prices underscores the metal’s enduring significance in global and domestic markets. Whether this trend will persist or see a temporary pullback remains to be seen, but for now, gold continues to shine brightly as both an investment and a symbol of security.
National News
GJEPC Seminar In Jammu Focuses on Export Opportunities For MSMEs
Seminar Aimed At Helping Jewellers Tap Global Export Opportunities, Highlighting The Role Of IIJS Bharat In Expanding Business Prospects
GJEPC, in association with Swarnkar Sangh Jammu, organised a seminar on “Export Opportunities for MSMEs and IIJS Retail Connect”, bringing together more than 150 members of the jewellery trade from across Jammu district. The seminar held on 24 July aimed at helping jewellers tap global export opportunities while highlighting the role of IIJS Bharat in expanding business prospects and strengthening India’s gems and jewellery industry.
Mansukh Kothari, Convenor – Events, GJEPC, outlined how IIJS Bharat has enabled manufacturers, retailers and exporters to build professional networks, discover new markets, and generate business opportunities through direct engagement with domestic and international buyers.
Mithilesh Pandey, Senior Director, GJEPC, presented an overview of the Council’s initiatives to strengthen India’s gem and jewellery export ecosystem. He guided participants through the process of establishing an export business, including obtaining an Import Export Code (IEC), GST registration and fulfilling other statutory requirements.
Pandey also highlighted GJEPC’s export promotion initiatives, including IJEX, Dubai, e-commerce opportunities through platforms such as eBay, participation in international trade exhibitions and access to overseas markets. He underscored the growing importance of FTAs in enhancing India’s export competitiveness and outlined the various MSME schemes and government support available to industry members.
Naheed Sunke, Assistant Director, GJEPC, briefed participants on the benefits available to jewellers attending IIJS Bharat through their association, including special discounts on visitor registrations. She also noted that IIJS offers a valuable platform to showcase regional jewellery traditions to a wider audience, adding that Jammu’s distinctive Dogra jewellery has the potential to gain greater national and international visibility through the exhibition as efforts to secure a GI tag continue. The seminar generated strong interest in GJEPC’s membership and trade initiatives. Several participants agreed to become GJEPC members, while many others expressed interest in visiting the upcoming IIJS exhibition.
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