National News
India’s polished diamond exports dip by 3.6 per cent yoy in January 2026
India’s polished diamond exports dipped by 3.6 per cent year-on-year in January, following on from modest growth (+2.7 per cent) in December 2025, and a 38 per cent surge in November 2025 according to the latest figures from GJEPC
The slight dip in January reflects the usual post-holiday pause in demand from US retailers, but that is set against an overall trend towards increased exports.Total foreign sales for January 2026 were $979m down from $1.01bn in January 2025.
The impact of President Trump’s 50 per cent tariff on Indian exports appears to have been softened somewhat by manufacturers switching to other markets – notably UAE, Hong Kong, Thailand and Europe.In addition, exporters have benefitted from far fewer return consignments (down from as high as 30 per cent to just 10 per cent), reflecting smarter supply chain tactics.
And an easing of US tariffs is likely to improve matters. On 6 February the US scrapped the 25 percent punitive element of tariffs on India, with immediate effect.It also pledged to bring down the reciprocal tariff to 18 percent, as part of an Interim Trade Agreement, though this has yet to happen.
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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MCX Gold, Silver Move North On June US Employment Report
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International News20 hours agoSIJE 2026 To Host 450+ Global Brands As Singapore Welcomes Back The World Diamond Congress After 38 Years
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