International News
Precious Metals Slide As U.S.-Iran Conflict Drags On
Gold Drops 1.4% to $4,462 An Ounce, Silver Falls 2%, Amid Fears Of Central-Bank Selling and Fed Rate Hikes
Precious metals tumbled Monday as the U.S. – Iran war stretched into its fifth week, fueling concerns over inflation, higher interest rates and potential sales from central banks. Spot gold fell 1.38% to $4,462 a troy ounce after surging 2.7% in the prior session. Silver slid 2% to $68.30 an ounce in Asian hours.
The selloff caps a 15% decline in gold since hostilities erupted, with bullion moving in tandem with equities and against surging oil prices. Escalating energy costs have stoked worries that the Federal Reserve could tighten policy to combat inflation—a headwind for non-yielding assets like gold.
Media reports opportunistic buyers nibbling at the dip after gold’s sharpest selloff in years. Yet persistent conflict risks loom large: Tehran faced power blackouts from missile strikes over the weekend, Iran-backed Houthis escalated involvement, and the U.S. bolstered regional troop deployments. Iran also hit aluminum smelters in Bahrain and the United Arab Emirates.
Turkey’s central bank, meanwhile, offloaded and swapped some 60 tons of gold—worth over $8 billion—in the conflict’s first two weeks, challenging the narrative of unwavering central-bank accumulation.
For traders, the gold-silver ratio’s leap to 65 signals a potential pivot to gold over silver. Watch Fed signals, oil trajectories and de-escalation news. Support looms at $4,200; resistance near $4,500. Volatility suits options plays or hedges via ETFs like GLD or SLV.
International News
GJEPC India Pavilion at WJSME 2026 showcases India’s jewellery mfg.and design capabilities
For Indian exhibitors, the Sharjah show provides an opportunity to engage buyers from the UAE and wider Middle East.
The India Pavilion organised by GJEPC made a strong opening at the 58th Watch & Jewellery Show Middle East 2026, being held at Expo Centre Sharjah from 30 September to 4 October.
Dr. Emmadi Vishnu Vardhan Reddy, Consul General of India, Dubai, visited the GJEPC-curated India Pavilion on the opening day. He was received by Antarpal Singh Sawhney, Regional Chairman – North, GJEPC, and Ashish Sakhardande, Head – India Jewellery Exposition Centre (IJEX), Dubai.
During his visit, Dr. Reddy interacted with participating exporters and viewed the jewellery and products on display. He appreciated the craftsmanship and design innovation represented at the Pavilion and highlighted the importance of exploring emerging markets and strengthening India’s global footprint in the gems and jewellery sector.
Bringing together 11 Indian exhibitors, the India Pavilion presents a cross-section of India’s jewellery manufacturing and design capabilities, with products spanning diamond jewellery, fine gold jewellery, silver jewellery, coloured gemstones, pearls, watches, and display and packaging solutions.
The participating exhibitors are Omega Jewellery, Core Jewellery Pvt. Ltd., Peacemoon Traders, Exclusive Diamond Jewellery Pvt. Ltd., Teyana Jewels LLP, Sejal Exports (India), Veekay Diamants, Harshwardhan Gems Pvt. Ltd., Sherly Jewels Pvt. Ltd., Rajesh Gems and Arina Jewellery LLP.
The Watch & Jewellery Show Middle East 2026 is expected to attract more than 66,000 visitors, including over 1,000 trade visitors from 52 countries. International participation includes Bahrain, China, Egypt, France, Japan, Kuwait, Lebanon, Pakistan, Poland, Qatar, Russia, Saudi Arabia, Sri Lanka, Türkiye, the UAE, the UK, the US and Yemen.
For Indian exhibitors, the Sharjah show provides an opportunity to engage buyers from the UAE and wider Middle East, while connecting with international visitors and trade representatives attending the event.
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