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

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 Insight | Price Level | Approx. 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 |

National News
Manubhai Jewellers Champions Mobility Aid Initiative to Empower Differently-Abled Individuals

Manubhai Jewellers has reaffirmed its commitment to social responsibility by supporting the Empowering Wheels, Empowering Lives initiative, in partnership with the Rotary Club. The initiative focused on providing mobility aids to differently-abled individuals, with the aim of restoring not just physical movement, but a sense of freedom, independence, and personal dignity to those affected by accidents or medical conditions.
The jewellery brand’s involvement stemmed from a desire to solve real-world challenges through compassionate action. The initiative demonstrated how businesses can move beyond commercial interests to address practical issues faced by members of the community. Through this programme, five individuals with severe mobility challenges were identified by the Rotary Club. Each recipient had a unique story of resilience, and Manubhai Jewellers stepped in to support their journey by donating specially built electric scooters, tailored to the needs of differently-abled users.

Samir Sagar, Director of Manubhai Jewellers, elaborated on the brand’s vision behind this heartfelt contribution:
“Honestly, it started with a simple thought that we meet and serve hundreds of people every week, and somewhere we’ve seen first-hand how tough life can get when mobility is lost. When the Rotary Club reached out with this idea, it just felt right. Giving someone the freedom to move on their own.”
The event took place as part of a larger local initiative organized by the Rotary Club, and included a formal stage ceremony where the five recipients were introduced and publicly presented with their mobility aids. The occasion brought together local stakeholders, creating a collective moment of support and solidarity. It also highlighted how collaboration between civic bodies and businesses can result in meaningful, on-the-ground change in the lives of everyday citizens.
Speaking further on the company’s larger purpose, Sagar said:
“For us, it’s always been about celebrating strength, be it through jewellery that marks a milestone, or through initiatives like this that restore someone’s independence.”
While the brand emphasized that the initiative was not designed for commercial promotion, it naturally led to greater awareness and appreciation within the local community.
“We didn’t really do it expecting attention or engagement,” Sagar explained. “However, such initiatives always manage to generate an overall feeling of community building.”
As Manubhai Jewellers continues its evolution from an owner-managed entity to a professionally-run organisation, the company has broadened its vision to include a deeper sense of responsibility towards the wider society. The brand’s support for this initiative aligns with its growing CSR roadmap, which seeks to integrate empathy, accessibility, and empowerment into its business ethos.
Looking ahead, Manubhai Jewellers is planning to participate in more such community-driven efforts, with the focus firmly on creating practical solutions for those who need them most. The five individuals selected for this project were chosen by the Rotary Club based on their specific needs and aspirations. Each case reflected the determination of individuals who wished to remain active contributors to society but were hindered by physical limitations.
Established in 1993 as a jewellery manufacturing and wholesale venture in Gujarat, Manubhai Jewellers opened its first independent retail showroom in Borivali West, Mumbai, in 2008. Today, the brand operates three showrooms—two in Borivali and one in Thane—continuing to blend tradition with a strong sense of social purpose.
National News
GJEPC Reinforces MSME Commitment at ASSOCHAM’s Mega Sammelan 2025 in Lucknow

The Gem & Jewellery Export Promotion Council (GJEPC) showcased its continued support for Micro, Small, and Medium Enterprises (MSMEs) at the ASSOCHAM Mega MSME Sammelan 2025, held in Lucknow on June 26–27 to commemorate MSME Day. The event aimed to celebrate the vital role of MSMEs in India’s economic and export growth, while fostering dialogue on strategies for their sustained development.

Representing GJEPC, Mr. Antarpal Singh Sawhney, Regional Chairman (North), addressed a gathering of nearly 500 participants, including policymakers, industry leaders, and MSME representatives from various sectors. In his speech, he highlighted the Council’s dedicated initiatives tailored to uplift the MSME segment within the gem and jewellery industry.
Key initiatives discussed included:
- Facilitating access to MSME government schemes
- Encouraging participation in domestic and international exhibitions
- Promoting the Parichay Card scheme for workforce formalisation
- Driving major infrastructure projects such as the Bharat Ratnam Mega CFC, the Gem Bourse in Jaipur, and the IIGJ (Indian Institute of Gems & Jewellery) in Delhi
Mr. Sawhney also reiterated GJEPC’s ambitious export target of USD 45 billion by 2030, in alignment with India’s broader vision of becoming a developed economy by 2047.
The event served as a robust platform to acknowledge the MSME sector’s pivotal contributions and explore collaborative efforts to accelerate their integration into global value chains.
National News
Shazahn Padamsee Celebrity Face for JAS 2025 at the Exhibitors Networking Evening

Jewellers Association Jaipur hosted a royal Exhibitors Networking Evening for JAS: The Premium B2B Show at Jaipur Marriott Hotel. The moment sparkled as the Celebrity Face of JAS 2025, Shazahn Padamsee arrived wearing the jewellery by Sunil Jewellers Jaipur. She also unveiled the new poster of JAS 2025 in a grand ceremony.
The exhibitors from across India came together to connect and gear up for JAS Show! Welcomed with colourful bandhani dupattas, everyone felt the warmth of Jaipur’s hospitality.

Committee members — Alok Sonkhiya (President, Jewellers Association Jaipur), Ashok Maheshwari (Convenor, JAS), Neeraj Lunawat (Honorary Secretary), Raju Mangodiwala (Vice President & Co-Convenor, JAS), Ajay Godha (Joint Secretary) and Naresh Agroya (Co-Convenor, JAS & Coordinator JEA) — shared the key highlights and new features of JAS 2025, inspiring exhibitors to make the most of this premier B2B platform.
And, a rocking performance by Indian Idol fame Piyush Panwar made the evening unforgettable.

-
BrandBuzz3 months ago
Mia by Tanishq Unveils ‘Fiora’ Collection This Akshaya Tritiya: A Celebration of Nature’s Blossoms and New Beginnings
-
National News2 months ago
Emmadi Silver Jewellery Launches First Karnataka Store with Grand Opening in Bengaluru’s Malleshwaram
-
GlamBuzz2 months ago
Gokulam Signature Jewels Debuts in Hyderabad with Glamorous Launch at KPHB
-
DiamondBuzz2 months ago
De Beers CEO: confident the US will exempt diamonds from reciprocal tariffs