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India’s gold demand improves as prices dip

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Gold demand in India saw a slight improvement towards the week’s end as prices fell from record highs, yet remained below normal levels. Discounts in China persisted due to low activity, and India’s imports are predicted to drop significantly by 85 per cent in February. Meanwhile, gold trades in Singapore, Hong Kong, and Japan show varying premiums and discounts.

India’s gold demand improved in the second half of this week but remained lower than normal as prices retreated from all-time-high levels, while traders continued to offer discounts in China as activity remained lacklustre. Domestic gold prices were trading around 84,750 rupees per 10 grams on Friday after hitting a record high of 86,592 rupees last week.

Indian dealers this week offered a discount of $12-$27 an ounce over official domestic prices, inclusive of 6 per cent import and 3 per cent sales levies, down from the last week’s discount of $35.

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GJEPC Seminar InNashik Spotlights Export Opportunities and Easier Bullion Imports For MSMEs

The Programme Focused On Helping Jewellery Businesses Explore Export Markets While Highlighting Recent Policy Changes That Simplify Access To Bullion Imports.

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GJEPC, in association with the Nashik Jewellers Association, organised an awareness seminar on Export Opportunities for MSMEs on 7 July 2026 in Nashik, Maharashtra. The programme focused on helping jewellery businesses explore export markets while highlighting recent policy changes that simplify access to bullion imports.

Addressing the seminar, Mithilesh Pandey, Senior Director, GJEPC, outlined the export potential for jewellery businesses and explained the key requirements for becoming an exporter. His presentation covered logistics support, e-commerce opportunities, and initiatives introduced by the Government of India, the Government of Maharashtra and GJEPC to promote exports. He also highlighted the benefits of GJEPC membership and explained how retailers can leverage Central and State government schemes to expand their businesses internationally.

Representatives from the India International Bullion Exchange (IIBX), Ranjit Singh and Mukesh Sharma, announced a significant policy update for the gem and jewellery industry. GJEPC Registration-cum-Membership Certificate (RCMC) holders will now be recognised as Qualified Jewellers, enabling them to directly participate and bid on the IIBX platform for the import of gold and silver.

The speakers also announced that the earlier Rs 15 crore minimum net worth requirement has been removed, allowing a wider pool of GJEPC members to directly import bullion through IIBX.

The IIBX announcement drew strong interest from participants, while the sessions on exports and GJEPC initiatives encouraged retailers to explore international business opportunities and the advantages of GJEPC membership.

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