National News
MCX Gold, Silver Futures See Sharp Drop Mirroring Action In Global Spot markets
U.S. Economic Strength Drives Fed Rate Expectations, Sparking Global Selloff
Precious metals plunged in Indian markets early Wednesday, tracking a global selloff as resilient U.S. economic data fueled expectations that the Federal Reserve will raise interest rates later this year.On the Multi Commodity Exchange (MCX), gold futures tumbled as much as 1% to an intraday low of 141,115 rupees per 10 grams, a drop of 1,416 rupees. Silver suffered even steeper losses, crashing by 5,662 rupees to hit a session low of 222,901 rupees per kilogram.
The sharp decline mirrored action in global spot markets, where gold continued to trade below the $4,000-an-ounce threshold, lingering at an eight-month low. Spot silver slid nearly 2% to trade near a seven-month low of $57.60 per ounce.
The primary catalyst for the selloff was a string of robust economic indicators out of the U.S., which underscored the economy’s underlying strength and complicated the inflation outlook.
- Labor Market Tightness: The latest Job Openings and Labor Turnover Survey (JOLTS) showed vacancies climbing to a two-year high. Wall Street analysts are forecasting another solid expansion in non-farm payrolls for June.
- Sticky Inflation: Recent core inflation readings have remained stubbornly above the Federal Reserve’s 2% target, according to data from Trading Economics.
Higher interest rates typically damp the appeal of non-yielding assets like gold and silver, as investors opt for higher-yielding U.S. Treasury bonds and a strengthening dollar. Markets are currently pricing in at least one Fed rate hike this year, with the first potentially arriving as early as September.
Beyond macroeconomic data, investors are closely monitoring geopolitical developments in the Middle East. Ongoing U.S.-Iran peace talks in Qatar have raised cautious optimism for a lasting ceasefire agreement, reducing the safe-haven premium that has historically supported precious metals. The two sides, however, are not expected to engage in direct negotiations.
National News
The Solitaire Festival Of India 2026 Announces Winners Of Its Second Weekly Lucky Draw
The Second Weekly Draw Adds To The Excitement Around TSFI 2026, With Customers Continuing To Participate In The Festival Through Their Purchases Of Divine Solitaires Jewellery.
Divine Solitaires has announced the winners of the second weekly lucky draw of The Solitaire Festival of India (TSFI) 2026, its flagship annual celebration of natural diamond solitaires. Now in its fifth edition, TSFI is being celebrated from 1st to 31st August 2026 across 200+ partner jewellery stores in over 100 cities across India.
As part of TSFI 2026, customers purchasing Divine Solitaires jewellery from participating partner jewellers during the festival period are automatically eligible for the weekly lucky draws. The second weekly draw saw six customers win exciting prizes across automobiles, home appliances and lifestyle entertainment, adding another memorable moment to their diamond purchase.
The winners of the second weekly draw are:
- Uesh Deshmukh, who purchased from Ranka Jewellers, Karve Road, and won a Maruti Suzuki Alto
- Bhumika, who purchased from S S Jewellers, Haryana, and won a Honda Activa
- Mala Sinha, who purchased from Alankar Jewellers, Patna, and won a Haier 596L, 2 Door Refrigerator
- Anil Kumar Sahoo, who purchased from Khimji Jewellers, Janpath, and won a Samsung 50 inches Crystal UHD 4K TV
- Ankit M, who purchased from Ranka Jewellers, Bund Garden, and won a JBL Partybox Wireless Bluetooth Speaker
- Shailja Sharma, who purchased from Batukbhai Jewellers, Shankar Nagar, and won a Sony PlayStation 5 console
The second weekly draw adds to the excitement around TSFI 2026, with customers continuing to participate in the festival through their purchases of Divine Solitaires jewellery. Along with the weekly lucky draws, customers can also avail assured gifts and special vouchers, while staying eligible for the Mega Bumper Draw at the close of the festival.
Every Divine Solitaires diamond is backed by the brand’s 123-parameter Quality Guarantee Certificate, reflecting its commitment to quality, authenticity and transparency. Through TSFI, the brand continues to bring together the timeless appeal of natural diamond solitaires with a rewarding experience for customers across the country.
With the wedding and festive season around the corner, TSFI 2026 continues to add to the joy of choosing a Divine Solitaires diamond, giving customers more reasons to celebrate their special purchases this August.
Alrosa Reports $130mn H1 Loss Amid Diamond Market Headwinds
The Solitaire Festival Of India 2026 Announces Winners Of Its Second Weekly Lucky Draw
Gold, Silver Retreat On MCX As Rising Yields and Oil Prices Prompt Profit-Taking
Gold, Silver Retreat On MCX As Rising Yields and Oil Prices Prompt Profit-Taking
Alrosa Reports $130mn H1 Loss Amid Diamond Market Headwinds
Irasva Fine Jewellery- This Raksha Bandhan, Gift Her A Little Something That Lasts Forever
-
National News1 hour agoGold, Silver Retreat On MCX As Rising Yields and Oil Prices Prompt Profit-Taking
-
DiamondBuzz8 minutes agoAlrosa Reports $130mn H1 Loss Amid Diamond Market Headwinds
-
BrandBuzz4 hours agoIrasva Fine Jewellery- This Raksha Bandhan, Gift Her A Little Something That Lasts Forever
-
National News52 minutes agoThe Solitaire Festival Of India 2026 Announces Winners Of Its Second Weekly Lucky Draw
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.