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Grand unveiling of GJIIF 2025 in Chennai

Formal inauguration by Pramod Agarwal Derewala

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Gem & Jewellery India International Fair (GJIIF) 2025 was unveiled at Chennai Trade Centre, Chennai. The show was formally inaugurated by Chief Guest Shri. Pramod Agarwal ‘Derewala’, Chairman- Derewala Industries and Chairman- National Gems & Jewellery Council of India in the presence of Jayantilal Challani,  President, The Jewellers And Diamond Traders Association – Madras.

Present at the inauguration were distinguished guests: Sabarinath, President, Tamil Nadu Jewellers Federation, Santha Kumar, Secretary, MJDTA, Yogesh, Treasurer MJDTA, Ravindran, Secretary, TNJF, Manoharan, Treasurer, TNJF, Shantilal, State Chief, Andhra Association, Chetan Kumar Mehta, President, Jewellers Association, Bengaluru, Surendran, AKGSMA.

Distinguished overseas Visitor Partners from Malaysia present were Datuk Abdul Rasull Bin Abdul Razak, President, Malaysia Indian Goldsmith and Jewellers Association, Dato Wira Louis Ng, President, Malaysia Gold Association. Also present was Wan Ahmad Tarmizi, Trade Consul, Malaysian Consulate -Trade Section. Representing United Exhibitions were VK Manoj, Project Director, United Exhibitions, Mohandas, CEO, United Exhibitions

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National News

Precious Metals Soar, Oil Plunges On US-Iran Peace Deal

Global Concerns Regarding The Energy Crisis, Inflationary Pressures, and Aggressive Rate Hike Trajectories Have Significantly Eased.

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A confirmed peace agreement between the US and Iran has triggered massive waves across global markets, easing energy crisis fears and altering the global economic outlook ahead of major central bank meetings. Driven by strong global bullish sentiment, gold and silver hit massive milestones on the MCX and spot markets: MCX Gold: Up 2% (~Rs 2,300), nearing the Rs 1.54 lakh mark. MCX Silver: Outperforming with a 3% upside (~Rs 6,000), crossing Rs 2.53 lakh. US Spot Gold: Surged over 2.5% to trade above $4,300/oz. Spot Silver: Zoomed over 4% to trade above $70.5/oz.

Oil prices nosedived following President Trump’s announcement that a US blockade on Iranian ports would be lifted, allowing Persian Gulf shipments to resume soon.

  • Brent Crude: Dropped 5% to $83/bbl as the Strait of Hormuz prepares to reopen.
  • US WTI Crude: Slipped 6% to trade around $80/bbl.
  • MCX Crude: Crashed by 5.5%.
  • The Accord: The formal treaty to end the conflict (active since late February) is scheduled to be signed in Switzerland on June 19. It includes blockades being lifted, sanctions relief for Iran, and the dismantling of Tehran’s nuclear program.
  • Macro Relief: Global concerns regarding the energy crisis, inflationary pressures, and aggressive rate hike trajectories have significantly eased.
  • Central Bank Watch:
    • US Fed: Holding its first policy meeting under new chair Kevin Warsh this week; rates are widely expected to remain unchanged.
    • Bank of Japan: Expected to buck the trend and raise rates to support the Yen.
    • Reserve Bank of Australia: Expected to hold policy steady.

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