loader image
Connect with us

National News

Gold rockets to record high again amid tariff war and USD sinks to 35-month low: AUGMONT BULLION REPORT

Published

on

913 views

COMEX Gold’s active month contract closed 7% higher at $3254, marking the highest weekly percentage increase since March 27, 2020. Prices are up $270, or 9%, during the last four sessions, and year-to-date they are up $593, or 22.5%.

Last week, the United States substantially boosted duties on Chinese imports, adding a new 125% penalty on top of an existing 20% duty, bringing the total to 145%. This strong approach eclipsed President Donald Trump’s 90-day postponement on heavier tariffs for other countries, raising concerns about broader economic consequences.

Investors seeking safety drove up gold prices, aided by a weakening US Dollar Index, which fell below 100 for the first time in over three years. The US dollar is falling across the board as markets react to China’s new reprisal against US imports. China stated early Friday that it will levy 125% tariffs on US imports starting Saturday, up from 84% previously declared.

The dollar has declined over 7% since Trump’s inauguration and over 2% since his comprehensive trade policy was announced last week, contrary to Wall Street’s expectations. The decrease in the dollar has coincided with sell-offs in US stocks and Treasuries. This could indicate that foreign investors are responding to Trump’s protectionist plans by selling US assets, putting downward pressure on the dollar.

The rationale for increasing gold allocations is stronger than ever in this climate of rising tariff uncertainty, poorer growth, increased inflation, and persisting geopolitical dangers. The evolving global trade, economic, and geopolitical landscape strengthens gold’s position as a safer investment haven.

In this environment of rising tariff uncertainty, poorer growth, greater inflation, and persisting geopolitical threats, the case for increasing gold allocations has never been stronger. The evolving global trade, economic, and geopolitical landscape reinforces gold’s significance as a safer investment refuge.

According to the minutes from the most recent Fed meeting, policymakers are nearly unified in acknowledging the combined problem of increasing inflation and slowing GDP, warning that the Federal Reserve will confront “difficult trade-offs” in the coming months.

Market InsightPrice LevelApprox. INR Equivalent
Prices have risen significantly in a short time – caution is advised.
If price corrects below this level, profit booking may occur.$3200~Rs 93,000
Possible downside target in case of correction.$3100~Rs 90,000
Gold prices fell from record highs as trade tensions eased; US President Trump excluded smartphones and laptops from tariffs.
Ongoing trade and tariff volatility continues to create uncertainty in financial markets.
If dollar weakness continues, gold may hit new highs.$3300~Rs 95,000

Continue Reading
Advertisement JewelBuzz Banner
Click to comment
Subscribe
Notify of
guest
0 Comments
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

National News

Hand-carriage facility at Ahmedabad Airport places Gujarat in the international export ecosystem: GJEPC

Published

on

1,863 views

The approval for hand-carriage of gem and jewellery goods at Ahmedabad International Airport marks a major step forward in the Government of India and GJEPC’s ongoing efforts to enhance the ease of doing business for the industry. The inclusion of Ahmedabad in the official Hand-Carriage/HBoP system—announced through DGFT Public Notice No. 33/2025–26 dated 1 December 2025—comes at a time when India is expanding its global trade partnerships through FTAs with the UAE, Australia, UK and European Free Trade Association (EFTA).

The Hand Carriage facility, previously available only at Delhi port, has now been extended to all major ports—including Jaipur, Kolkata, Mumbai, Hyderabad, and Chennai—with corresponding SOPs issued for smooth operations. Initially, Ahmedabad port was excluded from the list of Hand-Carry Points of Origin (HBoP). Following continued representation by GJEPC to the DGFT, Ahmedabad port has now been officially included in the HBoP network.

Soon after the DGFT notification, a GJEPC officials led by Jayanti Savaliya, Regional Chairman (Gujarat), approached and met Shiv Kumar Sharma, Principal Commissioner of Customs, Ahmedabad. He assured that the Customs department will fast-track the process and issue the SOP for the Ahmedabad hand-carriage facility at the earliest.

For exporters in Gujarat, this development is more than an operational convenience—it is a gateway to unlocking new export potential across key international markets. Hand-carriage access from Ahmedabad enables faster, secure movement of high-value consignments, allowing manufacturers and traders to fully leverage preferential access under existing and upcoming FTAs.

Gujarat—led by the Ahmedabad–Surat–Rajkot belt—has long been the global centre for cut and polished diamonds and is now rapidly evolving as a major hub for studded jewellery manufacturing. In FY 2024–25, gem and jewellery exports from the Gujarat Region totalled US$ 1,979.90 million, contributing nearly 7% to India’s overall exports in the sector. With Ahmedabad now added to the hand-carriage network, export operations from the region are expected to become more agile, competitive, and globally aligned.

The new facility will significantly benefit MSMEs, which form the backbone of jewellery manufacturing in Gujarat. Faster turnaround times, reduced process dependency, and direct access to international flights from Ahmedabad will enable businesses to meet global demand more efficiently—particularly for markets in the Middle East, Europe, and Latin America.

Kirit Bhansali, Chairman, GJEPC, expressed gratitude to the DGFT and the Ministry of Commerce for this timely and progressive decision, noting that the inclusion of Ahmedabad in the hand-carriage network will strengthen the Gujarat region’s growing prominence in studded jewellery manufacturing.

Kirit bhansali

Kirit Bhansali added: “This has been a long-standing need of exporters in Gujarat, and GJEPC has been consistently pursuing it with DGFT. The new facility will greatly support businesses across Ahmedabad, Surat, and Rajkot—regions that collectively drive India’s diamond and jewellery exports. The decision brings convenience, speed, and greater ease of operations for thousands of exporters who can now ship and receive goods through Ahmedabad Airport.”

 Jayanti Savaliya, Regional Chairman (Gujarat), GJEPC, said “Gujarat is the heart of India’s diamond cutting and polishing industry, and Ahmedabad is emerging as a major international aviation hub. Allowing hand-carriage from Ahmedabad will simplify procedures, save crucial time for exporters, and provide a major boost to MSMEs. This policy change will directly strengthen India’s position in the global gem and jewellery trade.”

The new hand-carriage facility will enable quicker movement of goods, reduced waiting time, and lower operational costs for exporters. With smoother processes and improved transparency, this step reinforces the shared commitment of the Government and GJEPC to support exporters, enhance industry competitiveness, and position Gujarat as a rising centre for value-added jewellery manufacturing.

Continue Reading

Trending

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.

We would like to hear from you...

GET WHATSAPP NEWS ALERTS

0
Would love your thoughts, please comment.x
()
x