National News
GSI Launches Satellite Laboratory in Indore
Will offer same-day certification for MPs Dynamic Jewellery Market
With transparency and trust at the heart of organised jewellery retail, accurate certification is vital to building lasting customer loyalty. Recognising the growing demand for faster, reliable certification services, Gemological Science International (GSI) has inaugurated a cutting-edge satellite laboratory in Indore on 24 January 2025. This new facility is designed to serve jewellers and consumers across Madhya Pradesh with same-day certification services for jewellery, diamonds, and gemstones.
Spread over 1,200 sq. ft., this satellite laboratory has been established to address the growing demand for prompt, same-day certification within the jewellery supply chain in Madhya Pradesh. While the majority of fine jewellery sourcing in Madhya Pradesh is conducted from Mumbai, Surat, and Jaipur, Madhya Pradesh has witnessed steady growth in jewellery manufacturing and trading in recent times. This has created a strong and growing demand for an internationally acclaimed laboratory like GSI to provide its expertise, services, and educational initiatives to support the flourishing jewellery industry in the state.
Introducing state-of-the-art technology for identifying gemstone treatment and polki jewellery certification, the GSI lab in Indore will offer premium services which were unavailable to jewellers in the state before. Some of these services include advanced screening equipment for testing diamonds, such as the ‘Trusure’ series by Mindron and GSI, which will empower every jeweller to buy and sell confidently.
Speaking about the objectives of this satellite lab, Ramit Kapur, Managing Director of GSI India, said, “The rise in customer demand for customised jewellery has spurred a shift toward local manufacturing in Madhya Pradesh, reducing reliance on sourcing from Mumbai, Surat, and Jaipur. With this shift comes the critical need for accurate certification and quality assurance. GSI’s Indore lab offers same-day gemological services with unmatched turnaround times, empowering jewellers to meet market demands efficiently while ensuring consumer trust. Our global expertise, combined with cutting-edge technology, streamlines the certification process, transforming how jewellery businesses operate in Madhya Pradesh.”
As part of its initiative to enhance awareness within Madhya Pradesh’s jewellery supply chain, GSI will also conduct specialised workshops on diamonds and gemstones to equip retail sales teams with advanced sales strategies. Additionally, GSI will host tailored sessions for end-consumers, enabling them to make well-informed choices and enjoy an exceptional jewellery shopping experience.
National News
MCX Gold, Silver Move North On June US Employment Report
MCX Gold Futures Reclaimed the ₹1.48 lakh Mark
MCX Gold Futures reclaimed the Rs 1.48 lakh mark, hitting an intraday high of Rs 1,48,046 per 10 grams before stabilizing around Rs 1,47,845 (up 1.43%). Spot Gold (Global) surged by 1.5% to trade at $4,185 per ounce, rapidly closing in on the $4,200 level.
MCX Silver Futures zoomed up by Rs 4,457 or 1.91% to trade near Rs 2,37,761 per kg, after touching an intraday high of Rs 2,38,216 per kg. Spot Silver (Global) climbed more than 2.3% to trade comfortably above $62 per ounce.
The primary catalyst behind the bullish reversal was the June US employment report, which indicated a cooling US economy.
Nonfarm Payrolls: The US added just 57,000 jobs in June—the lowest hiring momentum in four months—well below the market expectation of 110,000 jobs.
Unemployment Rate: The rate edged down from 4.3% to 4.2%. However, economists noted that the decline was largely due to a weaker labour force participation rate, which fell to 61.5%, rather than stronger hiring activity.
Sectoral Shifts: Professional and business services (+36,000) and healthcare (+22,000) led job gains, while the leisure and hospitality sector recorded a sharp decline of 61,000 jobs.
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