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Precious Metals Rally On US-Iran Ceasefire: Gold Tops $4,850, Silver Jumps To $76

Sharp Rebound Comes From Post-Conflict Lows, As Oil Dipped Below $100 Per Barrel and The Dollar Weakened

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COMEX gold rocketed 3.1% to above $4,850 per ounce in Asian trading, building on yesterday’s 1.2% gain, while silver soared 6.8% to $76.92/oz. The rally followed U.S. President Trump’s announcement of a two-week ceasefire with Iran, halting strikes to negotiate the reopening of the Strait of Hormuz.

Iran has submitted a 10-point proposal through a Pakistani mediator, with talks scheduled for April 10 in Islamabad. This sharp rebound comes from post-conflict lows, even as oil dipped below $100 per barrel and the dollar weakened—factors that bolster dollar-denominated precious metals.

Since the February conflict began, gold has fallen about 10% overall and silver around 17%, but recent ceasefire hopes and signs of slowing global growth are fueling the recovery, offsetting rate-hike concerns. Volatility lies ahead with an upward bias if safe-haven demand persists and macroeconomic conditions remain supportive. Markets are now awaiting the minutes from the Fed’s March meeting, due on Wednesday.

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International News

India-UAE Jewellery Dialogue Draws 200+ Stakeholders, Reinforces Trade Confidence

GJEPC and UAE Leadership Reaffirm Commitment To Market Resilience and “Business Beyond Borders.”

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  • The India-UAE Gems & Jewellery Dialogue -Boosting Confidence, held on 2 April 2026 at Taj Business Bay, Dubai, saw strong industry participation, underscoring continued optimism in bilateral trade. The event was organised under the patronage of the Embassy of India in the UAE, the Consulate General of India in Dubai, and the GJEPC.

The high-level gathering brought together over 200 stakeholders across the jewellery value chain, including manufacturers, retailers, wholesalers, and policymakers from both countries. Among the dignitaries present were H.E Mohammed Ali Rashed Lootah, President & CEO Dubai Chamber, H.E. Ahmed Al Khaja, CEO Dept of Economy & Tourism, H.E. Jumal Al Kait, Asst Undersecretary Ministry of Foreign Trade, Tawhid Abdullah, Chairman Dubai Jewellery Group. Speakers highlighted the resilience of the UAE’s jewellery ecosystem and pointed to expanding opportunities for integration with Indian manufacturers.

Delivering the keynote, H.E. Dr Deepak Mittal, the Ambassador of India to the UAE, reaffirmed the Government of India’s continued support for the sector and emphasised the UAE’s strategic importance as a partner under the India-UAE Comprehensive Economic Partnership Agreement (CEPA).

Hon’ble Consul General Satish Kumar Sivan stressed the need for unity and confidence within the trade amid shifting global dynamics. In his welcome address, Mr Sabyasachi Ray, Executive Director, GJEPC, outlined GJEPC’s focus on strengthening exports and deepening engagement across the GCC through collaborative initiatives.

Key discussions reaffirmed the strength of India-UAE trade ties in gems and jewellery, sustained confidence in the UAE market despite global uncertainties, and the need for closer coordination between government, trade bodies, and industry. Participants also recognised the India Jewellery Exposition Centre (IJEX) as a critical platform enabling market access in the region.

The dialogue concluded with a shared commitment to deepen cooperation, strengthen trust, and drive growth in bilateral jewellery trade, with GJEPC reiterating its focus on facilitating “Business Beyond Borders.”

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