National News
Grand unveiling of GJIIF 2025 in Chennai
Formal inauguration by Pramod Agarwal Derewala
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
National News
MCX Gold and Silver Futures Dip On Dhanteras On Surging Crude Prices
​Despite The Traditional Demand Boost Associated With Dhanteras, Domestic Bullion Prices Tracked Weakness In International Markets
Gold and silver futures opened sharply lower on the Multi Commodity Exchange (MCX) on Friday, driven by surging crude oil prices that have reignited global inflation concerns and boosted market expectations of a December U.S. Federal Reserve rate hike.
​Despite the traditional demand boost associated with Dhanteras, domestic bullion prices tracked weakness in international markets, where spot gold dipped to $4,040 per ounce and spot silver fell to $51.42 per ounce. Further weighing on market sentiment, Goldman Sachs revised its end-2026 gold price target downward to $4,150 per ounce (from $4,650 per ounce), citing a hawkish Fed trajectory.
​Key Market Highlights
​MCX Gold Futures (Dec 2026): Dropped by Rs 2,300 to trade at Rs 1,41,808 per 10g.
​MCX Silver Futures (Dec 2026): Fell by Rs 3,440 to trade at Rs 1,83,700 per kg.
​US Fed Outlook: CME FedWatch data indicates a 71% probability of a December rate hike, reinforced by recent hawkish remarks from Federal Reserve officials.
​Macro Drivers: Rising crude oil prices following international geopolitical friction have escalated inflation fears, increasing the opportunity cost of holding non-yielding precious metals ahead of the U.S. non-farm payrolls data.
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