International News
Jewellery exporters leveraging digital marketing to access US market
Indian jewellery exporters are leveraging digital marketing to enhance online sales in the US to mitigate potential tariff impacts. Taking advantage of the de minimis exemption, they aim to boost ecommerce transactions by promoting direct-to-consumer sales and simplifying cross-border logistics with partners like DHL.
Indian jewellery exporters are using digital marketing to push online sales among potential buyers in the US, as they look for ways to minimize the impact of reciprocal tariffs, which the Trump administration has threatened to bring into effect from April 2.
The US allows jewellery worth up to $800 to enter the country free of tariffs and with minimal customs inspection and processing. Most of these imports, shipped by postal and express delivery services, are retail products purchased online.
In early February, the Trump administration announced it would immediately eliminate the “de minimis exemption” for low-value shipments arriving from China. The announcement led to a backlog of packages at the US ports of entry. When the Customs and Border Protection (CBP) realised that it was not prepared to deal with the huge volume of packages, the Trump administration backed off and instead announced it would create a process for eventually eliminating the exemption for China.
“As global trade shifts from multilateral to bilateral frameworks, the de minimis principle-allowing small-value, direct to consumer (D2C) parcels to enter duty-free-offers Indian exporters, especially in gems and jewellery, a significant advantage,” Kirit Bhansali, Chairman GJEPC said. “This simplified process provides direct access to consumers worldwide without duties. It is estimated that 70-80% of ecommerce exports fall under US$ 200, making gems and jewellery an ideal fit due to their low weight, which reduces logistics costs.
According to GJEPC’s forecast, the US jewellery ecommerce market is expected to reach $6,608.1 million in 2025. The expected compound annual growth rate for the next four years (CAGR for 2025-2029) is 3.9%, resulting in a projected market volume of $7,714.9 million by 2029.
Trade sources said that many mid- and small-sized Indian jewellery retailers are selling their products in the US through different e-commerce sites.
International News
Gold Prices On Track To Reach $4,900/oz By End 2026 :Goldman Sachs
Goldman’s $4,900/oz Forecast Assumes Central Bank Demand Averages 50 Tonnes Per Month In 2026 and 40 Tonnes Per Month In 2027
Gold prices are on track to reach $4,900 per ounce by the end of 2026, driven by aggressive central bank purchases—led by undisclosed buying from China—and recovering exchange-traded fund (ETF) demand, Goldman Sachs said in a research note.
The bank maintained its bullish base-case target for bullion while warning that positioning in options markets could amplify price volatility in both directions. Central banks accumulated an estimated 44 tonnes of gold in July, well above the pre-2022 monthly average of 17 tonnes, according to Goldman Sachs’ nowcast model. On a three-month seasonally adjusted basis, central bank buying stood at 91 tonnes per month.
China was the primary driver, with Goldman estimating the People’s Bank of China bought 35 tonnes in July—roughly 75% more than official public disclosures indicated.
To account for unreported sovereign purchases, Goldman’s model tracks physical bullion flows through London’s over-the-counter (OTC) market into custodian vaults. The Bank of England’s central bank holdings alone rose by 63 tonnes in July, exceeding outflows from the Federal Reserve Bank of New York.
Price Risks and Volatility
Goldman’s $4,900/oz forecast assumes central bank demand averages 50 tonnes per month in 2026 and 40 tonnes per month in 2027, alongside steady Federal Reserve policy and a rebound in private ETF inflows.
However, analysts noted that elevated demand for gold call options—used by investors to hedge against macroeconomic and geopolitical risks—creates mechanical upside and downside risks:
Bullish Case: Continued strong ETF inflows combined with existing call option positioning could force options dealers to buy underlying metal to hedge short exposure, pushing prices “well above” $4,900.
Bearish Case: If the Federal Reserve resumes interest rate hikes, unwinding hedge positions and triggering ETF outflows, gold could drop to $4,440/oz by end-2026. Goldman noted that ongoing central bank buying would limit further downside.
Goldman expects the Federal Reserve to remain on hold through 2026 as inflation cools, removing a key interest rate headwind for the non-yielding asset.
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