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
GJEPC Holds 60th AGM, Reviews FY2025-26 Performance and Industry Priorities
The AGM, Reviewed The Council’s Performance During FY2025-26 and Discussed Key Priorities For Strengthening India’s GJ Exports and Global Market Presence.
The Gem & Jewellery Export Promotion Council (GJEPC) held its 60th Annual General Meeting (AGM) on September 23, 2026, at the Bharat Diamond Bourse, Mumbai, bringing together Council officials and members in a hybrid format.
The AGM, chaired by Kirit Bhansali, Chairman, GJEPC, reviewed the Council’s performance during FY2025-26 and discussed key priorities for strengthening India’s gem and jewellery exports and global market presence.
India’s total gem and jewellery exports stood at US$27.72 billion in FY2025-26, with key markets including the UAE, Hong Kong, Australia, Canada and France recording strong demand for studded gold, silver and platinum jewellery.
Addressing the AGM, Kirit Bhansali, Chairman, GJEPC, said:
“The foundation we have built — in policy, infrastructure, talent, and global relationships — puts India in a strong position to regain and grow its export potential.”
Expanding Global Market Access
GJEPC highlighted India’s growing access to international markets through four FTAs signed with the UK, EU, Oman and New Zealand, alongside the UAE CEPA and Australia ECTA, providing zero or near-zero duty access to important markets.
The Council also highlighted initiatives undertaken to expand market reach, including SJAEX 2025, the India-UK Buyer-Seller Meet, India-Riyadh Studded Jewellery BSM and IIJS Bharat, which also witnessed first-time delegations from Kazakhstan and Vietnam.
Focus on Infrastructure and Future Growth
The Council outlined its focus on strengthening the industry ecosystem through initiatives including JewelStart, Bharat Ratnam Mega CFC, India Jewellery Park Mumbai, as well as new e-commerce and hand-carry frameworks.
GJEPC’s membership also increased to 10,910, reflecting the Council’s expanding industry base.
During the AGM, the audited financial statements for FY2025-26 were adopted. CNK & Associates LLP was proposed as the statutory auditor for five years, while 10 Directors’ appointments were regularised.
The AGM reaffirmed GJEPC’s focus on export growth, global market expansion, infrastructure development and strengthening India’s position in the international gem and jewellery trade.
#GJEPC
#Gem And Jewellery Exports
#Indian Jewellery Industry
#Jewellery Trade
#India Jewellery Exports
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