National News
Gold, Silver Prices Edge Lower On MCX On Prospect Of Prolonged High Interest Rates From The U.S. Fed
MCX Gold August Futures Traded Near ₹1.59 Lakh Per 10 Grams, While Silver Futures Hovered Around ₹2.64 Lakh Per Kilogram
Gold and silver prices edged lower on the Multi Commodity Exchange (MCX) Wednesday, as the prospect of prolonged high interest rates from the U.S. Federal Reserve countered safe-haven demand stoked by escalating geopolitical tensions in West Asia.
MCX Gold August futures traded near Rs. 1.59 lakh per 10 grams, while silver futures hovered around Rs. 2.64 lakh per kilogram. In physical markets, 24-carat gold quoted at roughly Rs. 1.56 lakh per 10 grams.
The bullion market is currently caught in a sharp macroeconomic crosscurrent:
- The Bearish Drag: U.S. job openings unexpectedly surged in April, signaling economic resilience. This stronger data reinforced expectations that the Federal Reserve will maintain its “higher-for-longer” interest-rate stance, dulling the appeal of non-yielding assets like gold.
- The Geopolitical Floor: Crises in West Asia—specifically involving Israel, Iran, and U.S. forces near the critical Strait of Hormuz shipping lane—continue to support safe-haven buying. This tension, paired with Brent crude oil hovering near $96 per barrel, has stoked fresh global inflation fears.
Historically, high inflation acts as a tailwind for gold. However, analysts note that the current environment is unique: the threat of crude-driven inflation is being interpreted by the market as a reason for the Fed to defer rate cuts, ultimately capping gold’s upside.
MCX gold has pulled back nearly 4% over the past two weeks, pressured by a strengthening U.S. dollar, However, the August contract continues to hold crucial technical support above Rs. 1.57 lakh per 10 grams.
Silver has shown greater relative resilience, trading firmly within a broad range of Rs. 2.61 lakh to Rs. 2.77 lakh per kilogram, keeping the gold-to-silver ratio near the 59–60 mark.
The Bottom Line: Bullion is likely to remain tightly range-bound in the immediate term. Traders are looking ahead to a cluster of major U.S. macroeconomic indicators this week—including the ADP employment report, ISM Services PMI, and Friday’s pivotal non-farm payrolls data—to provide the next decisive directional cue.
National News
Belgian Consul General H. E. Mr. Pierre Stverlynck Graces BDB Annual Day
- Event marks 42 years of Incorporation and 16 years of Operations
- Recently-appointed Consul-General’s first visit to the Bourse helps strengthen a century-old bond
- Long service awards presented to outstanding employees
Bharat Diamond Bourse today marked 42 years of incorporation and 16 years since the commencement of operations at the BDB Complex in BKC with a special programme graced by H. E. Pierre Stverlynck – Consul General of Belgium in Mumbai as Chief Guest and a number of leading diamantaires.




The function was organised to celebrate the crucial roles played both by the visionaries who conceptualised the need for a centralised infrastructure to boost the diamond trade over four decades ago, and the employees who have run the daily operations in a highly efficient and professional manner.
In his Welcome Address, BDB Vice President, Mehul Shah explained the significance of celebrating twin milestones – 42 years of incorporation and 16 years of operations. He said:

“BDB began with a vision and is now the world’s largest operational bourse, and a symbol of India’s leadership in the diamond world and excellence in every aspect of operations.”
He added, “It is significant that the Consul General of Belgium is with us on this special occasion. Antwerp and Mumbai have a very close relationship, going back more than 100 years. Today the two cities have bonds based on trust, trade and friendship. We are committed to strengthening this bond over the next century as well.”
Congratulating the awardees he said that members may be the owners, but it is the staff who run the complex and have helped build it as the “best of the best” centres for diamonds. “Personal integrity combined with hi-tech surveillance have made BDB one of the safest places in the world,” he explained, and urged all present never to forget that “it is the soldiers who fight and win the wars.” Mr Shah offered compliments to all the awardees and congratulated Team BDB.
Speaking on the occasion, Anoop Mehta, President BDB, welcomed Mr Stverlynck who has recently assumed charge as Consul General of Belgium in Mumbai.

“We are sure that this will be the first of many visits to our Bourse,” he said, noting that the Consulate is the nearest neighbour of the complex.
“The BDB leadership has always enjoyed a very special relationship with the Belgian consulate,” he added, “built on the longstanding bonds between the diamond industry in our two countries.”
Mr Mehta said it was heartening that so many employees had remained loyal to the BDB for multiple years, and urged all gathered to reach out through their department heads to put forward suggestions for further changes and improvements
Mr Stverlynck, who was on his first visit to the Bourse after assuming charge as Consul General, said he was extremely impressed with the facilities available for exporters within the complex. Assuring the trade of cooperation and support, he said he was happy to be personally present to celebrate such a remarkable institution as BDB that has become a key pillar of the India diamond industry.
Congratulating the leadership for its role in steering the bourse, as well as those employees who had received long service awards, Mr. Stverlynck said:

“The consolidated knowledge and experience of so many from those at the top to a number of others who contributed in various ways, is an asset to the industry.”
Special long service awards were presented to employees who completed special milestones during the year. These included 30-year, 25-, 15-, 10- and 5-year service awards to a few employees.
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