National News
Gold prices touch Rs 1 lakh/10 gm mark: AUGMONT BULLION REPORT
Gold prices reached a record high of $3397 (~Rs 96747) on exchanges and nearly Rs 1 lakh in the spot market after adding 3% GST. Concerns over global economic growth as a result of the escalating Sino-U.S. trade war are driving the rise, with a weaker dollar adding to the momentum.
Fundamentally, markets are pricing in increased geopolitical risks, fueled by U.S. trade tensions and stagflation concerns, while persistent central bank demand adds to price pressures. On April 2, US President Donald Trump imposed “reciprocal tariffs” on dozens of countries, and while his administration has suspended duties for some, it has escalated its trade war with China.
China cautioned countries on Monday not to strike a bigger economic deal with the United States at its expense, a move Trump is allegedly looking for from countries seeking tariff reductions or exemptions. Meanwhile, Trump launched a slew of attacks on Federal Reserve Chairman Jerome Powell on Thursday, as his administration considers firing him.
On the geopolitical front, Russia and Ukraine accused one other of hundreds of strikes that breached President Vladimir Putin’s one-day Easter ceasefire, with the Kremlin claiming there was no instruction to extend the pause in frontline fighting.
The next potential milestone for gold could be around $3500 (~Rs 100,000) if this rally continues further, but positioning may appear crowded in the short run, and technical indications suggest near-term overbought circumstances. However, one must exercise extreme caution because prices have skyrocketed in a relatively short period. If prices fall below $3300 (~Rs 94300), profit-booking can lower prices to around $3100 (~Rs 90000). Silver prices have been trading in the range of $32 (~ Rs 94000) and $33 (~ Rs 97000) and to to continue same range in the coming week
National News
GJ Exports Show Signs Of Stabilization Amid Global Headwinds With A Rise Of 26.51% In June 2026; Imports Also Rise By 10.06% In The Same Period
The Overall Gems & Jewellery Exports Witnessed A Rise After A Prolonged Downtrend And Indicates A Revival In Overseas Demand Dynamics
The overall gross gems & jewellery exports grew by 26.51% to US$ 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 News20 hours agoDe Beers Suspends Production At Venetia Mine Amid Global Diamond Market Slowdown
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National News2 hours 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 News23 hours agoCertificate Ceremony Held To Recognize The First Jewellery Import Shipments Under The India–UK CETA
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International News24 hours agoPrecious Metals Slip As Middle East Conflict Shows No Signs Of Cooling AUGMONT BULLION REPORT
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