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Madhuri Dixit inaugurates 20000* sqft jewellery shopping destination for PNG Jewellers at Laxmi Road, Pune

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Retail expansion in jewellery aligns with the consumer response in any given market. Phenomenal popularity and product demand call for unprecedented expansion, and one such instance was exhibited by PN Gadgil Jewellers, widely known for its commitment towards excellence across a legacy of 193 years of business and counting, with the launch of a new store besides renovation of its flagship showroom, both at Laxmi Road in Pune, on 23 March, 2025.

Catering to rising demand across all categories of gold, diamond, platinum, and colour gemstone jewellery in the Pune market, the two stores were jointly inaugurated by Bollywood diva Madhuri Dixit in the presence of Dr. Saurabh Gadgil, Chairman and Managing Director of PNG Jewellers; Mr. Parag Gadgil, and members of the PNG Jewellers family.  The combined area of the two large-format stores now reach a staggering 20,000 sq. ft.* 

Dr. Saurabh Gadgil, Chairman and Managing director of PNG Jewellers said, “Pune holds a special place in our hearts, as it is where our flagship store continues to stand as an example to our heritage and trust. Now, the brand has a total of 53 stores across the world. As we strive to strengthen our retail network further, this expansion brings us closer to our patrons, ensuring they have convenient access to the finest jewellery, steeped in tradition and craftsmanship. We look forward to serving the people of Pune with the same commitment to quality, craftsmanship, and trust.”

Ushering in a completely modern in-store experience while respecting Maharashtrian tradition, the renovated flagship showroom has been redesigned akin to heritage Wada courtyard houses intrinsic to the state. Exclusively retailing in gold jewellery of Kalkatti, temple, antique, and kundan designs, the flagship showroom specialises in bridal jewellery along with a dedicated wedding lounge replete with private make-up stations to give the brides-to-be the attention they deserve. The new 2-storey showroom, on the other hand, stands tall as a hub of the studded categories including diamond, platinum, uncut, polki, and precious colour gemstone jewellery. The expansion has now diversified the product range of PNG Jewellers by an impressive 30-40%, thus giving buyers across all categories better options for an immersive and satisfying shopping experience.    

Commenting on the continuing legacy of the brand, ambassador and Bollywood superstar Madhuri Dixit said, “It is a privilege to be a part of this historic event with PNG Jewellers, a company known for its excellence and tradition. Their commitment to preserving tradition while embracing modern designs truly sets PNG Jewellers apart. PNG has always stood for trust, tradition, and timeless craftsmanship.”

The new store of PNG Jewellers is located 500 meters away from their flagship store, and has rolled out exclusive offers such as 0% deduction on old gold exchange, up to 40% off on gold jewellery-making charges, and up to 100% off on diamond jewellery-making charges respectively to celebrate the grand inauguration.

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National News

MCX Gold, Silver Move North On June US Employment Report

MCX Gold Futures Reclaimed the ₹1.48 lakh Mark

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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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