International News
Gold prices edge higher on Trump tariffs, Russia caution
Gold’s gains were limited because the U.S. dollar is also performing well. The dollar went up as investors waited for important inflation data to be released on Tuesday. Spot gold rose 0.2% to $3,361.42 an ounce, while gold futures rose 0.3% to $3,374.80/oz .
Gold prices edged up a bit in Asia today, continuing their recent climb. Investors are feeling a little nervous because of the possibility of the U.S. President, Donald Trump, raising tariffs on imported goods. This nervousness drove investors to safe haven assets. Safe haven demand was also buoyed by reports that Trump planned to send offensive weapons to Ukraine, potentially escalating a conflict with Russia.
Physical demand, however, stayed subdued in Asia due to high prices and seasonal weakness, with Chinese premiums steady at $10–$25 an ounce and Indian discounts narrowing to $8 per ounce amid tight local supply and low imports in May and June. Typically, India’s gold demand softens during the monsoon season, while premiums in Hong Kong and Singapore hovered at modest levels.
President Donald Trump’s aggressive tariff moves—including a fresh 35% levy on Canadian imports from August 1 and plans for 15–20% blanket duties on most other trade partners—fueled investor anxiety over global growth and inflation. This was compounded by his push for a dramatic 300 bps cut in the Fed funds rate, which stirred speculation about a dovish tilt in US monetary policy and raised concerns about longer-term inflation risks.
Further compounding this anxiety is President Trump’s aggressive push for a significant 300-basis-point reduction in the Federal funds rate. This call has ignited speculation about a potentially dovish shift in U.S. monetary policy, raising concerns among some market participants about longer-term inflation risks. In such an environment, gold, often seen as a hedge against inflation and economic uncertainty, typically finds favor.
Despite the macro tailwinds, physical demand for gold in Asia remained subdued. Elevated prices and seasonal weakness, particularly as India enters its monsoon season, contributed to softer buying. Chinese gold premiums held steady at a modest $10-$25 an ounce, while Indian discounts narrowed to $8 per ounce, reflecting tight local supply and a slowdown in imports during May and June. Premiums in key trading hubs like Hong Kong and Singapore also hovered at modest levels.
DiamondBuzz
De Beers Group Launches “Heera Hai Aapke Liye” Program at IIJS Bharat Signature to Revolutionize Natural Diamond Accessibility in India
De Beers Group, the world’s leading diamond company, marked a significant milestone in the Indian jewellery landscape with the official launch of the “Heera Hai Aapke Liye” program at IIJS Signature. The star-studded event featured actress Sonakshi Sinha, who joined Shweta Harit, Global Senior Vice President of De Beers Group and CEO of Forevermark, to unveil an initiative dedicated to making natural diamonds an integral part of daily life for the modern Indian consumer.



The “Heera Hai Aapke Liye” (Diamonds are for You) program is strategically designed to promote natural diamonds by raising awareness, boosting market visibility,and creating a seamless connection between retailers and consumers. With a focus on modern designs and attractive price points, the program also lets local retailers use De Beers Group campaigns as their own—second-piercing earrings, ‘Bestie’ bracelets, and ‘Intention’ pendants. It positions diamonds as a lifestyle choice for self-expression and daily wear.

Speaking at the launch, Shweta Harit, Global Senior Vice President of De Beers Group and CEO of Forevermark, detailed the evolution of the brand’s storytelling, stating, “De Beers Group has a rich legacy of creating iconic ritual campaigns that have shaped how the world perceives diamonds. With ‘Heera Hai Aapke Liye,’ program we are evolving that narrative for the Indian market to another level.
We are not just selling jewellery, we are making natural diamonds more accessible and desirable in India. Our goal is to empower retailers through INDRA (Indian Natural Diamond Retailer Alliance) to ensure that every ‘First Diamond’ journey is as credible as it is beautiful.”

Speaking on the occasion, Kirit Bhansali, Chairman, Gem & Jewellery Export Promotion Council (GJEPC), said, “IIJS has always been a powerful platform for shaping the future of India’s gem and jewellery industry, and the launch of ‘Heera Hai Aapke Liye’ at IIJS Signature reinforces that role. GJEPC is proud to partner with De Beers Group on the INDRA (Indian Natural Diamond Retailer Alliance) project, which is a critical step towards strengthening domestic demand for natural diamonds.
By empowering retailers, enhancing consumer confidence, and expanding access across metros and Tier 2 markets, this initiative aligns perfectly with our vision to grow the natural diamond category sustainably within India.”
The program ‘Heera Hai Aapke Liye’, rests on few strategic pillars aimed at industry growth and scalability:
- Stocking & New Consumer Opportunity: Identifying gold wholesalers and distributors across 15–20 cities to focus on a first-phase target of 500 retailers.
- Retailer Advantage: Providing a “Design Advantage” and strict “Product Hygiene,” backed by a clear buy-back policy and robust training and marketing support via the INDRA alliance.
- Heera Hai Aapke Liye is robust entry-level product kit featuring earrings, bangles, bracelets, etc supported by exclusive visual merchandising (VM) for display.
- Growth and Scalability: A PAN-India reach strategy designed to unlock new business opportunities for both manufacturers and retailers.


As India continues to grow as the world’s second-largest market for retail diamond jewellery, De Beers Group remains committed to strengthening the natural diamond narrative. By combining the emotional appeal of natural diamonds with the practical “Heera Hai Aapke Liye” framework, De Beers aims to build a sustainable future for the category across both metros and Tier 2 cities. De Beers and GJEPC aim to expand the base of Natural Diamond buyers, increase self-purchase consideration, and establish long-term credibility for the category.
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