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MCX Gold August Futures Declined Over 1%; MCX Silver September Futures Crashed More Than 2%

Experts Expects Gold and Silver Prices To Remain Volatile This Week Due To Volatility In Crude Oil Prices and The Dollar Index

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On July 13, gold and silver prices in India saw a sharp decline. MCX gold August futures declined over 1% to Rs.1,41,820 per 10 grams, while MCX silver September futures crashed more than 2% to Rs.2,17,448 per kg in early deals after crude oil prices jumped 4%, driving the dollar index higher.

U.S. Central Command (CENTCOM) announced strikes against Iran on 12 July, hitting dozens of targets at multiple locations with precision munitions to “degrade Iran’s ability to continue attacking international shipping flowing through the Strait of Hormuz. Crude oil prices jumped 4%, reviving inflationary fears and expectations of aggressive monetary tightening by the US Federal Reserve and other major central banks globally.

Gold is considered a hedge against inflation, but it tends to decline during periods of monetary tightening because it is a non-yielding asset. Along with the Middle East conflict, investors’ focus this week will be on the Federal Reserve Chairman Kevin Warsh’s first semiannual testimony before Congress, as well as June CPI, PPI and retail sales data, which will provide fresh clues on the US economy and the monetary policy outlook.

Experts expect gold and silver prices to remain volatile this week due to volatility in crude oil prices and the dollar index, geopolitical tensions, and caution ahead of U.S. inflation data.

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Senco Gold & Diamonds Unveils Attractive Rath Yatra Offers

Jeweller Launches A Festival-Inspired Jewellery Collection With Exclusive Discounts On Gold, Diamond, Silver and Gemstone Jewellery, Along With Special Old Gold Exchange Benefits.

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Senco Gold & Diamonds, a leading pan-India jewelry retailer with a legacy of over 88 years, is the largest jewelry retail player in Eastern India by showroom count, with more than 200 outlets across India. The brand has announced the launch of its new Rath Yatra Jewelry Collections and festive offers to mark the auspicious occasion. Rath Yatra, also known as the Festival of Chariots, is an important Hindu festival celebrated every year. While observed around the world, the largest celebrations take place in Odisha and West Bengal.

To commemorate the spirit and grandeur of Rath Yatra, Senco Gold & Diamonds has unveiled a thoughtfully curated collection of jewellery inspired by the festival’s rich symbolism and cultural heritage. Expertly crafted by the brand’s master artisans, the collection features intricate motifs of deities, chariots, and other auspicious elements associated with the revered festival.

To make Rath Yatra celebrations even more rewarding, Senco Gold & Diamonds is introducing a host of attractive festive offers across its showrooms. Customers can enjoy up to 40% discount on making charges for gold jewellery, up to 100% discount on making charges and up to 20% discount on diamond value on diamond jewellery, and up to 10% discount on gemstone jewellery. In addition, the brand is offering up to 15% off on making charges for silver jewellery. Further, customers can avail 0% deduction on old gold exchange along with an additional discount of ₹650 per gram.

Each piece is meticulously crafted in BIS Hallmarked Gold, reflecting exceptional craftsmanship, timeless elegance, and enduring quality. Designed to celebrate tradition while appealing to contemporary tastes, these exquisite creations are intended to become treasured heirlooms, passed down from one generation to the next.

Commenting on the occasion, Joita Sen, Director & Head of Marketing & Design, Senco Gold & Diamonds, said:

“Rath Yatra is a festival that holds immense spiritual and cultural significance for millions of devotees across the country. At Senco Gold & Diamonds, we recognize the importance of this auspicious occasion, when many customers choose to invest in jewellery as a symbol of blessings and prosperity.

Inspired by the rich traditions of the festival, our skilled artisans and designers have thoughtfully created a collection that beautifully blends timeless craftsmanship with contemporary elegance. From intricately crafted gold and diamond pendants to vibrant meenakari earrings, the collection offers something special for every taste and preference, making it the perfect way to celebrate the spirit of Rath Yatra.”

Suvankar Sen, MD & CEO, Senco Gold & Diamonds, said:

“Every year we have been doing the celebration in honour of the auspicious period, giving an opportunity to consumers to buy jewellery during this auspicious time.”

Senco Gold & Diamonds offers a diverse jewellery portfolio, including gold, diamond, platinum, and studded jewellery. Its brands include Everlite lightweight jewellery and Gossip, the silver and costume jewellery brand. The company has also launched D’Signia showrooms in India, offering a premium jewellery shopping experience. Its Aham collection caters to men, while the Vivaha collection features premium designer bridal jewellery.

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