National News
MCX Gold and Silver Remain Under Pressure; Analysts Advise Sell-On-Rise Strategy
Traders Should Monitor Global Economic Developments, US Dollar Movements, Central Bank Policy Signals, Interest Rate Expectations, Geopolitical Events, and Industrial Demand Trends
Precious metals continued to face selling pressure on the Multi Commodity Exchange (MCX), with technical indicators pointing to a bearish outlook for both gold and silver in the near term,
MCX Gold opened lower, reflecting weak market sentiment and an ongoing downtrend characterized by lower highs and lower lows. Analysts identify the Rs. 152,000 level as a key resistance zone, where any recovery is likely to attract fresh selling interest. Gold is expected to test support around Rs. 140,000, while a sustained move above Rs. 157,000 could invalidate the bearish outlook.
Silver is also trading with a cautious-to-negative bias, with market participants favoring a sell-on-rise strategy. The Rs. 240,000 level remains a significant resistance area, and any rally towards this zone could trigger renewed selling. On the downside, silver is expected to move towards Rs. 225,000, while a break above Rs. 249,000 may signal a reversal in trend.
Market experts advise traders to closely monitor global economic developments, US dollar movements, central bank policy signals, interest rate expectations, geopolitical events, and industrial demand trends, all of which could influence precious metal prices and increase short-term volatility.
Overall, the near-term bias remains cautious to negative, with prices attempting to stabilize near a key support level. A breakout above immediate resistance is required to improve sentiment and stabilize the structure, while geopolitical developments, safe-haven demand, and broader market volatility continue to influence price direction.
National News
India’s Consul General To Dubai Visits GJEPC Headquarters
GJEPC briefed CG on the Indian gem and jewellery industry’s scale, global leadership in manufacturing, export outlook and the sector’s roadmap for future growth
Vishnu Vardhan Reddy, Consul General of India to Dubai, visited the GJEPC headquarters in Mumbai on 24th July for an interaction with industry leaders to gain a deeper understanding of the sector and its engagement with the UAE.
The UAE is India’s largest trading partner in gems and jewellery, with bilateral trade reaching US$33.51 billion in FY2025-26.
The Consul General was welcomed by Kirit Bhansali, Chairman, GJEPC, along with Shaunak Parikh, Vice Chairman; Manish Jiwani, Convenor – MSME; Ashish Borda, Convenor – PMBD; Mital Doshi, Convenor – BITC; Bharat Ghori, Co-Convenor – MSME; and Mr. Sabyasachi Ray, Executive Director, GJEPC.
GJEPC briefed Mr. Reddy on the Indian gem and jewellery industry’s scale, global leadership in manufacturing, export outlook and the sector’s roadmap for future growth. Discussions also covered GJEPC’s role in trade promotion, policy advocacy, international exhibitions and infrastructure development to strengthen India’s position as a global jewellery manufacturing and trading hub.
Given Dubai’s strategic importance to the industry, the meeting focused on the India-UAE gem and jewellery trade ecosystem, evolving supply chains, trade and logistics, banking and financing, and opportunities to deepen bilateral cooperation. The delegation also outlined policy initiatives aimed at enhancing India’s competitiveness in global trading and value addition.
Reddy said the visit provided him with valuable insights into the industry’s priorities and challenges, and expressed his willingness to work closely with GJEPC and the trade to strengthen India’s gem and jewellery partnership with Dubai and the wider UAE.
-
National News3 days agoAkoirah by Augmont Celebrates The Family We Choose With A Thoughtfully Curated Friendship Day Gifting Edit
-
New Premises2 days agoGUZEMA Fine Jewelry Opens First U.S. Boutique In New York’s SoHo
-
International News2 days agoDe Beers Group Reports H1 2026 Production Surge
-
International News2 days agoCanada Faces 50% US Import Tariffs; Gemstone Exemption Under Review
JewelBuzz is Asia’s First Digital Jewellery Media & India’s No.1 B2B Jewellery Magazine, published by AM Media House. Since 2016, we’ve been the trusted source for jewellery news, market trends, trade insights, exhibitions, podcasts, and brand stories, connecting jewellers, retailers, and industry professionals worldwide.