National News
Mumbai Wholesale Gold Jewellers Association to Host Annual ‘Megh Malhar’ Picnic on 19th–20th July
Held amidst the natural beauty of Igatpuri, this two-day gathering aims to provide members with a refreshing break from daily routines, while also strengthening interpersonal and professional relationships.
The Mumbai Wholesale Gold Jewellers Association (MWGJA) is all set to host its much-awaited annual picnic event ‘Megh Malhar’ on 19th and 20th July 2025 at The Grand Resort, Igatpuri. Known for its commitment to unity and collaboration within the jewellery community, the association continues its tradition of creating vibrant platforms that blend business camaraderie with relaxation and joy.
Event Purpose & Significance
The primary objective of the Megh Malhar picnic is to deepen social bonding among members, promote mutual understanding, and foster a stronger sense of unity within the jewellery trade. With an engaging mix of entertainment, games, musical evenings, and cultural programs, the event promises something for every member of the Association.
Leadership and Organizing Team
- This year’s event is being organized under the leadership of:
President: Mahesh Bafna, Gen. Secretary: Shreyans Kothari, Treasurer: Kamal Mehta, Vice Presidents: Sandeep Kothari and Dinesh Kothari, Joint Secretary: Rinku Bafna, Joint treasurer: Narendra Nawlakha, Immediate Past Secretary: Anil Pamecha, Convenors: Nitesh Dhakad, Kamal Kothari, Mitesh Kothari, and Dheeraj Mehta.
With the energetic support of this dynamic team, the event has been meticulously planned to ensure a smooth and enjoyable experience for all participants.
The event is further strengthened by the valuable support of Grafixwale (gold sponsor) BVC logistics (silver sponsor) and active contribution from various enthusiastic members of the Mumbai wholesale jewellery community.

Speaking about the event, Gen. Secretary Shreyans Kothari shared, “Our aim is not only to celebrate, but to bring members closer — personally and professionally. Megh Malhar is a symbol of our togetherness, and we are proud to continue this beautiful tradition of friendship, relaxation, and unity.”
National News
Gold & Precious Metals – A future outlook
The session saw a power packed panel of experts that comprisedSurendra Mehta, National Secretary- IBJA,Ranjith Singh,Head of Business Development, IIBX, Shweta Dhanak, Director – Vijay Exports,S Thirupathi Rajan, MD Goldsmith Academy, Shivanshu Mehta, SVP & Head Bullion-MCX.The session was moderated by Chirag Seth, Principal Consultant, Metals Focus.
Some salient points made by the panelists:
- Gold prices are not linked to consumer demand. They are linked to central bank buying and ETFs
- Till the banking system doesn’t collapse, gold price will continue to rise


- Jewellers were advised to use a mix of futures and options for risk mitigation


- Given the current situation manufacturers selling on credit or unfavorable deals could be fatal flaw for business.
- Precious metals forecast: Surendra Mehta said he sees gold in 2026 in $4900-5100 range and silver in $90-105.Looking further he said by 2030-2035 gold could touch $18000- 20000 and silver could reach $500. Chirag Seth predicted silver touching $105 this year and gold moving in the $ 5200- $ 5500.
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