Gemological Science International (GSI), one of the world’s leading gemological organizations, recently conducted an immersive workshop titled “Introduction to Gemstones & Diamonds” for the retail sales professionals of Waman Hari Pethe Jewellers (WHP) in Mumbai. The initiative was part of GSI’s continued efforts to partner closely with retailers and equip their teams with the tools needed to succeed in a dynamic and evolving jewelry marketplace.

The workshop offered a deep dive into core gemological concepts while seamlessly integrating real-world retail applications. Participants were introduced to the fascinating journey of diamonds; from mines to showcase; alongside essential insights into the 4Cs of diamond grading and the fundamentals of coloured gemstones affecting their value. 

“We had a focused and insightful session by GSI for our WHP Jewellers team, covering key concepts in retail service, customer interaction, and professional conduct; not to forget their emphasis on the technicalities of diamonds. It was great to see our team participate actively, engage in discussions, and receive their certificates with pride. These learning opportunities play a crucial role in enhancing our service standards and building team confidence. Here’s to continuous learning, collective growth, and delivering excellence every day!” said Anushri Vijayaraghvan, Head HR, Waman Hari Pethe Jewellers.

What set this workshop apart was its blended approach; combining deep product knowledge with sales intelligence. From understanding customer behaviour and building trust to handling objections, WHP’s team engaged in interactive discussions and role plays, sharpening their skills through GSI’s proven seven-step sales strategy. 

“Storytelling has become central to jewellery retail,” said Ramit Kapur, Managing Director of GSI India. “Today’s customers are curious; they’re not just buying a product; they’re investing in something very meaningful and valuable. In that moment, your front-line sales executive becomes their best advisor. And like any advisor, it’s crucial that they are equipped with the right knowledge and skills to guide their purchase.”

Designed by GSI’s global experts and tailored to each brand ethos, these modules are helping retail teams across the globe to sharpen their skills and elevate the in-store experience.

U.S. gold prices have experienced a notable decline, falling from a recent high of $3,509 to $3,310. This $199 drop can be attributed to a combination of geopolitical and economic developments that have reduced market demand for safe-haven assets.

Key Factors Driving the Decline

1. Stability in U.S. Monetary Policy
   Investor concerns over potential instability in U.S. monetary policy were mitigated following former President Donald Trump’s remarks reaffirming his support for Federal Reserve Chair Jerome Powell. By ruling out any intention to replace Powell, Trump contributed to a sense of continuity and stability in monetary leadership, reducing speculative demand for gold.
2. Positive Signals in U.S.-China Trade Relations
   Sentiment was further boosted by optimistic statements from Trump regarding ongoing trade negotiations with China. His characterization of the discussions as “progressing positively” and his expressed confidence in achieving a mutually beneficial agreement have lowered immediate fears of trade disruptions, easing the flight to gold.
3. Geopolitical Easing in Eastern Europe
   Russian President Vladimir Putin’s willingness to initiate talks with Ukrainian President Volodymyr Zelenskyy has raised hopes for a ceasefire agreement. This development has encouraged a shift in investor sentiment toward riskier assets, further weakening gold’s appeal as a safe haven.

Contrasting Forecast: Bullish Outlook from JP Morgan
Despite the current decline, JP Morgan has issued a bullish long-term outlook, projecting that gold prices could exceed $4,000 per ounce by Q2 2026. The forecast is driven by concerns over a potential U.S. recession and the impact of renewed trade tensions stemming from Trump-era tariffs.
The recent decline in gold prices underscores the complexity and volatility of today’s economic landscape. While current developments have encouraged a risk-on sentiment, longer-term forecasts suggest persistent uncertainty could reignite demand for gold. In a volatile, uncertain, complex, and ambiguous (VUCA) world, forecasting commodity movements remains inherently challenging.

A delegation from the GJEPC, led by Chairman  Kirit Bhansali, met  Rajesh Agarwal, Additional Secretary, Ministry of Commerce and Industry, to discuss the impact of the reciprocal tariffs imposed by the US on India’s gem and jewellery exports. Also present at the meeting was  R. Arulanandan, Director, Department of Commerce.

The delegation included  Shaunak Parikh, Vice Chairman, GJEPC;  Adil Kotwal, President, SGJMA; and  Sabyasachi Ray, Executive Director, GJEPC. The leaders presented industry concerns and deliberated on possible measures to mitigate the impact and chart the way forward.