National News
MCX silver price surges ₹9,000 on bullish global trends
Silver markets opened with robust momentum today, propelled by a sustained rally in COMEX silver prices, bolstering bullish sentiment among traders. MCX silver rates gapped higher at Rs.2,39,041 per kg, swiftly climbing to an intraday peak of Rs.2,43,443 per kg, as global cues reinforced key support levels around $70 per ounce.
The March silver contract edged lower by Rs.73, or 0.03%, to settle at Rs.235,800 per kg, marking a retreat from its record high of Rs.2,54,174 per kg on December 29—a drop of nearly Rs.19,000. Domestic trading remained range-bound amid a shortened session on Thursday, with MCX closed for the evening and limited international cues.
COMEX silver traded firmly green since early Friday, holding above critical $70/oz support, while Wednesday’s international futures plunged $7.33 (9.37%) to $70.89/oz. International markets reopen today, poised to steer domestic trends amid ongoing volatility.
Ponmudi R, CEO at Enrich Money, affirms a resilient long-term bullish structure despite short-term pressures, with support at the rising channel and 20-day EMA near Rs.2,08,994. A decisive move above Rs.2,36,000 could ignite fresh upside targeting Rs.2,45,000–Rs.2,60,000 in the medium term, favoring accumulation on dips.
National News
Joyalukkas to Supply 1-Gram Gold Rings to 4.41 Lakh Newborns Under Tamil Nadu Government’s “Thai Maman Thanga Mothiram” Scheme
Joyalukkas to supply 1-gram gold rings to 4.41 lakh newborns under the Tamil Nadu Government’s welfare scheme
Joyalukkas, one of India’s most trusted jewellery retail brands, has been selected as the L1 bidder for the Government of Tamil Nadu’s “Thai Maman Thanga Mothiram Thittam” scheme, under which 441,667 newborn babies will receive 1-gram gold rings.
The scheme covers newborn babies delivered in Government hospitals in Tamil Nadu. The initiative will cover eligible newborns from June 22, 2026, until the end of the current financial year.

Under the tender, Joyalukkas quoted a symbolic service charge of just 1 paisa above the prevailing gold rate. The quote covers the supply of the gold rings along with applicable making charges and associated costs, with Joyalukkas offering the service at virtually no profit. The cost of the gold will be borne by the Government of Tamil Nadu at the prevailing market rate.
The tender is valued at approximately ₹755 crore, with the gold component forming the major part of the overall procurement value. Joyalukkas’ 1-paisa quote reflects the company’s commitment to supporting the Government of Tamil Nadu’s welfare initiative rather than pursuing commercial margins from the programme.
The “Thai Maman Thanga Mothiram Thittam” is a welfare initiative aimed at providing a 1-gram gold ring to eligible newborn babies as a gesture of care, prosperity and social support. By extending the benefit to babies born in Government hospitals, the scheme seeks to support families accessing public healthcare across the state.
Commenting on the selection, Joy Alukkas, Chairman and Managing Director, Joyalukkas Group said:

“We are honoured to be associated with the Government of Tamil Nadu’s Thai Maman Thanga Mothiram Thittam. This is a meaningful initiative that touches the lives of thousands of families across the state. Our decision to quote just 1 paisa above the prevailing gold rate reflects our commitment to contributing to this important welfare programme without seeking additional commercial margins. We will ensure that every ring supplied meets the highest standards of purity, quality and hallmarking.”
With a strong presence across Tamil Nadu and decades of expertise in jewellery manufacturing and retail, Joyalukkas is well positioned to execute this large-scale supply efficiently and with the highest standards of quality and transparency.
The official work order is expected to be issued shortly, following which Joyalukkas will commence the supply of rings in coordination with the concerned Government departments.

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