International News
Gold prices surged to an all-time high breaching $3,300/oz
Gold prices surged to an all-time high on Wednesday, breaching $3,300 an ounce in international spot markets for the first time as escalating U.S.-China trade tensions sent investors fleeing to traditional safe havens.
The yellow metal climbed to $3,318 per ounce in overseas trading, extending its recent rally and drawing closer to the symbolic ₹1,00,000 per 10 grams mark for 24-karat gold in India. Domestically, prices mirrored the global trend: in Delhi, gold was quoted at ₹98,100 per 10 grams by evening, while June futures on the Multi Commodity Exchange (MCX) hit a record ₹95,435.
President Trump’s directive for a probe into critical minerals added to the market anxiety, reinforcing the rush toward safe haven assets.
The sharp price escalation, however, has chilled consumer demand in India—the world’s second-largest gold market—prompting local jewelers to sell at a discount to imported prices. Gold is currently trading at a 1–2% discount to its landing cost in Indian markets.
Meanwhile, silver has trailed the gold rally. International spot prices for the white metal hovered around $32.80 per ounce Wednesday, crossing ₹1,00,000 per kilogram in Delhi, but still lagging behind gold in terms of momentum.
For now, analysts expect gold’s bullish run to persist, fueled by geopolitical uncertainty, inflation concerns, and growing investor caution.
International News
BDB Committee Hosts Consul General of Italy at Bourse; Discussions Focus On Boosting Trade Between The Two Countries
- Partnership between Europe’s Leading Jewellery Hub and World’s Largest Diamond Manufacturer will be mutually beneficial
- BDB requests modifications in Italy’s VAT Policy: Collection at Point of Sale Rather than Point of Import
The senior leadership of Bharat Diamond Bourse (BDB) welcomed H.E. Mr. Walter Ferrara, Consul General of Italy in Mumbai, on his visit to the BDB complex on June 30 to discuss opportunities for strengthening cooperation between India and Italy in the diamond and jewellery sector.
The BDB was represented by President Anoop Mehta, Vice President Mehul N. Shah, Honorary Joint Secretary Prakash Shah, and Committee Members Kiran K. Gandhi, Milan K. Parikh, Paresh Mehta, and Ramniklal Shah.
India and Italy both enjoy unique positions in the global diamond and jewellery industry. Italy is known for its exquisite jewellery and exceptional craftsmanship. It is Europe’s leading diamond and jewellery hub, and home to many renowned jewellery brands, while India is the world’s largest supplier of diamonds, including to Italy.
Business ties between the two countries have strengthened over the years, with nearly 100 Indian exhibitors participating annually in Vicenzaoro, Europe’s largest jewellery exhibition.
BDB leadership emphasised that there is enormous potential to further boost trade between the two countries, and suggested some policy reforms to help the process. They requested Italian authorities to consider shifting the collection of 18% VAT levied on loose diamonds to the point of sale rather than at the time of import.
Mehul Shah Said:
“The current system impacts the liquidity of Italian traders and hampers the cycle of trading and manufacturing. Shifting collection to the point of sale would ensure smooth tax compliance, while also enabling seamless trade between the two countries.”
The Hon’ble Consul General acknowledged the concerns raised by the BDB leadership and assured the delegation that he would ensure that their inputs were communicated to the relevant authorities. He also assured continued support to BDB members wherever required, including assistance in facilitating a faster visa process.
The visit concluded with a tour of the BDB campus and MDMA Hall, showcasing its world-class infrastructure and integrated trading ecosystem.
The interaction reaffirmed Bharat Diamond Bourse’s commitment to strengthening international partnerships and promoting constructive dialogue to support the continued growth, competitiveness, and sustainability of the global diamond and jewellery industry.
BDB Committee Hosts Consul General of Italy at Bourse; Discussions Focus On Boosting Trade Between The Two Countries
The New Forever: Wedding Rings Rewritten For The Modern Couple – Verlas New York
Rapid Growth In Gold Loan Merits Continued Vigilance: RBI FSR
Rapid Growth In Gold Loan Merits Continued Vigilance: RBI FSR
BDB Committee Hosts Consul General of Italy at Bourse; Discussions Focus On Boosting Trade Between The Two Countries
The New Forever: Wedding Rings Rewritten For The Modern Couple – Verlas New York
-
National News3 hours agoRapid Growth In Gold Loan Merits Continued Vigilance: RBI FSR
-
International News1 hour agoBDB Committee Hosts Consul General of Italy at Bourse; Discussions Focus On Boosting Trade Between The Two Countries
-
International News2 hours agoThe New Forever: Wedding Rings Rewritten For The Modern Couple – Verlas New York
-
DiamondBuzz4 hours agoRussia Dominates 2025 Diamond Production Value For Third Consecutive Year
JewelBuzz is Asia’s First Digital Jewellery Media & India’s No.1 B2B Jewellery Magazine, published by AM Media House. Since 2016, we’ve been the trusted source for jewellery news, market trends, trade insights, exhibitions, podcasts, and brand stories, connecting jewellers, retailers, and industry professionals worldwide.