National News
MCX Gold and Silver Experiencing Downward Pressure Amid Macroeconomic Headwinds
MCX Gold and Silver Face Tactical Bearish Pressures from Macro-Geopolitical Synergies, Yet Structural Uptrends Offer Opportunistic Entry Points Above Core Supports
MCX Gold and Silver markets are experiencing downward pressure amid escalating geopolitical tensions and macroeconomic headwinds. This report provides a strategic analysis of current dynamics, leveraging real-time data for informed stakeholder decision-making.
Executive Summary
The MCX Gold futures have dipped below the pivotal Rs 1.51 lakh threshold per 10 grams, reflecting a 0.31% decline to Rs 1,49,950 in early trading on April 24, 2026, while Silver hovers around Rs 2.40 lakh per kg with a 0.56% drop to Rs 2,40,168. These movements stem from heightened US-Iran hostilities at the Strait of Hormuz, bolstering crude oil prices and inflationary expectations, which in turn elevate the opportunity cost of non-yielding bullion assets.
Market Performance Overview
- Gold Pricing Dynamics: MCX Gold May futures opened lower at Rs 1,49,950, recovering marginally from sub-Rs 1.51 lakh lows after prior session gains to Rs 1,50,750; spot international gold trades below $4,700/oz.
- Silver Pricing Trajectory: MCX Silver May futures at Rs 2,40,168, down from Rs 2,42,213, with intraday lows near Rs 2,39,200 amid a slower selloff pace versus recent sharp declines.
- Volatility Metrics: Weekly declines accelerated by US Dollar strength (up ~1%) and 10-year Treasury yield surge (>2%), compressing bullion appeal in a high-rate paradigm.
Key Risk Drivers
Elevated energy costs from US-Iran escalations, including naval blockades and mine-laying incidents at the Strait of Hormuz, have intensified inflationary risks and fueled speculation of prolonged elevated interest rates by central banks. President Trump’s directives for US Navy interventions and indefinite ceasefire extensions underscore persistent geopolitical volatility, indirectly pressuring bullion as a safe-haven amid dollar dominance.
Strategic Outlook and Recommendations
Bullish momentum persists in medium-term technicals, with Gold targeting Rs 1.63 lakh and Silver Rs 2.80 lakh if supports hold, though near-term headwinds from yield curves and crude spikes warrant hedging strategies. Stakeholders should prioritize portfolio rebalancing toward diversified yield-bearing alternatives while monitoring Hormuz developments for pivot reversals.
MCX Gold and Silver face tactical bearish pressures from macro-geopolitical synergies, yet structural uptrends offer opportunistic entry points above core supports—positioning for volatility-normalized alpha generation.
National News
The Season’s Haute Pick: Rahul Desai Brings Luxury Learning On The Go With Loupe Insight Season 4
As luxury and premium Jewellery become increasingly important growth categories, the industry is also confronting a fundamental question, What does luxury truly mean today?
Is it an expensive product? A beautiful store? Highly personalized attention? Or an experience that customers cannot find elsewhere?
Addressing these questions, jewellery industry mentor, coach, and business strategist Rahul Desai has announced the fourth season of his podcast, Loupe Insight. Titled The New Code of Luxury Jewellery, the season brings focused luxury education to professionals on the go, translating an often abstract subject into practical sessions for the jewellery industry.
Today, the terms premium, luxury and ultra-premium are frequently used interchangeably. At the same time, many experiences positioned as luxury are simply examples of good service. This lack of clarity can influence everything from store design, merchandise selection and pricing to communication and customer engagement.
Through the new season, Rahul aims to help jewellers understand these distinctions and build a more relevant approach to luxury.
Rahul Desai, CEO & MD of IIG, and Founder of RD consultancy Said:

“Luxury is becoming a game changer for jewellery businesses, but the word itself is often misunderstood. A larger store, a more expensive collection or better hospitality does not automatically create a luxury brand. Luxury begins when every element, from the product and environment to the conversation and after-sales relationship, delivers a distinct sense of value”
Across the season, Rahul examines how the meaning of luxury is changing from distant aspiration to greater emotional and lifestyle relevance. The episodes explore subjects such as the difference between premium and luxury, the role of experience in creating perceived value, changing customer expectations, personalization, exclusivity and the new codes influencing modern jewellery retail.
The fourth season of Loupe Insight is supported by Sanghi Jewellers, Finestar Diamonds, Polygon, Jwero.ai and Svar, bringing together respected names from across the jewellery industry to support accessible, future-focused learning for the sector.
The season also challenges the belief that luxury is created only through elaborate interiors, chandeliers or champagne. Instead, it asks jewellers to look more closely at the complete customer journey: how a client is welcomed, how a jewel is introduced, how confidently its value is communicated and how the relationship continues after the purchase.
Designed as short, focused episodes, Loupe Insight makes these conversations accessible to business owners, retailers, manufacturers, designers, sales professionals and students. The “luxury on the go” format allows industry professionals to engage with important business ideas while traveling, working or moving through their day.
Drawing on more than 25 years of experience in jewellery education, retail strategy and industry mentoring, Desai brings together global luxury thinking and the realities of operating within India’s relationship-driven jewellery market.
Loupe Insight Season 4: The New Code of Luxury Jewellery continues the podcast’s larger purpose: helping the industry look beyond products and understand the forces shaping the future of jewellery business.
The new season will be available across Loupe Insight’s digital and podcast platforms.
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