National News
Gold prices in India showed a small recovery after major drop
On May 13, 2025, gold prices in India showed a small recovery after a major fall the day before. With reduced geopolitical tensions, safe-haven demand has declined significantly, causing MCX Gold June futures to drop to Rs 92,975/10 grams. This represents a substantial decrease of nearly Rs 6,500 from its April 22 peak of Rs 99,358/10 grams.
The previous day witnessed weakness in both domestic and international markets. Gold June futures settled lower at Rs 92,901 per 10 grams, declining by 3.75%, whilst silver July futures ended at Rs 95,344 per kilogram, down by 1.43%.
On Monday, gold prices dropped sharply—twice in one day. In the morning, the price of 10 grams of 24-carat gold fell by ₹1,800. Later that evening, it dropped again by ₹1,400. Altogether, gold lost ₹3,200 for every 10 grams, bringing the price down to ₹95,460. This was a big fall, and many people were surprised.
Experts say the main reason for the drop was a change in international and political situations. Tensions between India and Pakistan started to calm down, so people felt safer and didn’t feel the need to invest in gold. Also, on the world stage, the United States and China agreed to pause their tariff hikes for 90 days. This made investors more interested in stocks and other investments instead of gold, which is often seen as a “safe-haven” during uncertain times.
- Visit gives CG greater insights into diamond trade and import-export operations
- BDB Committee Highlights Close Ties between Diamond Industries in UAE and India
The Hon’ble Consul General of India to Dubai, Shri Vishnu Vardhan Reddy, visited the Bharat Diamond Bourse (BDB) complex on July 24, and after being shown around the complex, engaged with members of the Bourse Committee.
The visit enabled the Consul General to gather better insights into the functioning of the diamond trade and the operations within the Bourse. He also observed the smooth functioning of import-export trade in diamonds between the two countries, facilitated by the PCCCC run by Indian Customs within the complex.
The UAE is one of India’s most significant trading partners in the field of diamonds and jewellery. Bilateral trade between the two countries reached US$33.51 billion in FY2025-26.
In addition to a tour of the complex to understand the complete cycle from the import of rough diamonds to the export of polished diamonds, Shri Vishnu Vardhan Reddy also spent time interacting with Mehul Shah, Vice President, BDB, and other Committee members.
The BDB Committee highlighted the close connections between diamond companies in Mumbai and those in Dubai, as well as the regular interactions between the two centres. They thanked Shri Vishnu Vardhan Reddy for the cooperation they have always received from the Indian Embassy and expressed confidence that this visit would further streamline the movement of import-export parcels between the two countries.
Shri Vishnu Vardhan Reddy appreciated the global standards of the infrastructure and systems within the Bharat Diamond Bourse, as well as the professionalism with which the import-export trade operates. He assured the BDB Committee of the continued support of the officials at the Indian Embassy in the UAE.
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