loader image
Connect with us

National News

Precious metals continue decline

3,000 sq. ft. Borivali flagship marks brand’s 28-year legacy, Mumbai expansion and enhanced bridal jewellery experience

Published

on

Gold and silver prices experienced significant drops in Monday’s Asian session, reversing recent rallies that had driven both metals to historic peaks. Spot gold fell over 9% to $4,403 per ounce, while silver posted steeper losses of 15%, sliding below $72 per ounce.

Gold prices continued to crash on Monday, dropping 6% on MCX to hit the lower circuit,, down nearly Rs 9,700 per 10 grams.Silver crashes, drops 12% on MCX.Silver prices continued to crash on Monday, dropping 12% on MCX to hit the lower circuit,, down nearly Rs 32,000/-

precious metals are facing huge downside pressure due to continuing selloff in the international markets as the Dollar Index is extending its gains. US President Trump nominating Kevin Warsh as the next Fed Chair continues to support the US Dollar

Going ahead, gold is expected to remain volatile but relatively more stable compared to silver, which may continue to witness exaggerated swings. In the current phase, caution is advisable — a watch-and-learn approach is better until volatility subsides and price structures stabilize.

The sell-off reflects the volatile nature of precious metals trading. While economic uncertainty typically supports gold prices as investors seek safe-haven assets, the metals are equally susceptible to sharp corrections when market sentiment shifts or traders perceive rallies as excessive.The current pullback suggests investors are either reassessing economic concerns that initially drove the surge or booking profits after the rapid climb to record levels.

Continue Reading
Advertisement JewelBuzz Banner
Click to comment
Subscribe
Notify of
guest
0 Comments
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

National News

India Hosts Kimberley Process Intersessional Meeting 2026 In Mumbai

Kimberley Process Meeting Focuses On Monitoring, Compliance and Sustainable Diamond Trade

Published

on

The Kimberley Process Intersessional Meeting 2026 commenced in Mumbai under India’s Chairship. The meeting, being held from May 11 to May 14, 2026, has brought together representatives from Kimberley Process Participants, Observers, and industry stakeholders from across the world to deliberate on key issues related to the global trade in natural diamonds.

Addressing the gathering, KP Chair 2026, Suchindra Misra, stated that the Kimberley Process has played an important role in supporting peace, protecting livelihoods, and strengthening legitimate diamond trade across producing nations. He emphasised the need to further strengthen trust in the system, enhance cooperation among participants, and ensure that the Kimberley Process remains relevant and effective in a changing global environment.

He also highlighted that natural diamonds represent a sustainable product and that the Kimberley Process continues to remain one of the most progressive certification systems globally.

The Intersessional Meeting will include discussions and meetings of various Working Groups and Committees over the coming days. The deliberations will focus on implementation of the Kimberley Process Certification Scheme (KPCS), monitoring and compliance mechanisms, artisanal and alluvial diamond production, statistics, and measures aimed at strengthening trust in the natural diamond value chain. The proceedings of the Intersessional Meeting will continue till May 14, 2026.

The meeting is also expected to provide an opportunity for Participants and Observers to exchange views on emerging challenges and collaborative approaches for enhancing consumer confidence in ethically sourced natural diamonds.

Senior officials of the Department of Commerce, Government of India, representatives from Kimberley Process Participants, members of the World Diamond Council, Civil Society Coalition members, and other stakeholders are participating in the Intersessional Meeting.

Quote attributed to Kirit Bhansali, Chairman, GJEPC :

“India today stands at the heart of the global natural diamond industry, not only as the world’s largest cutting and polishing center, but also as one of the fastest-growing diamond jewellery markets globally. As an industry, we remain committed to strengthening consumer confidence, promoting transparency, and working together with global stakeholders to ensure that natural diamonds continue to remain a symbol of trust, aspiration, and shared prosperity across the world.

GJEPC, as co-organizer of the Intersessional under India’s Kimberley Process Chairship, is pleased to support this important global platform that will help strengthen confidence, enhance compliance, and reinforce the credibility of the global diamond ecosystem.”

India’s Chairship theme for 2026 focuses on the 3Cs — credibility, compliance, and consumer confidence in the natural diamond sector, with emphasis on strengthening the future of responsibly sourced natural diamonds through constructive dialogue and international collaboration.

The Kimberley Process Certification Scheme (KPCS), established pursuant to the United Nations General Assembly Resolution 55/56 (2000), is an international initiative aimed at preventing the flow of conflict diamonds into the legitimate diamond trade. At present, the Kimberley Process has 60 Participants representing 86 countries, with the European Union and its Member States participating as a single bloc.

India assumed the Chairship of the Kimberley Process on January 1, 2026, reaffirming its commitment to strengthening responsible sourcing, transparency, and sustainability in the global diamond sector. As one of the world’s leading centres for diamond cutting and polishing, India continues to play an important role in advancing the objectives of the Kimberley Process.

Continue Reading

Trending

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.

We would like to hear from you...

GET WHATSAPP NEWS ALERTS

0
Would love your thoughts, please comment.x
()
x