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Silver kicks off with vigour safe-haven demand, inflation concern

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Silver  kicked off the week with renewed vigor, reversing Friday’s pullback from its all-time high near $64.65. Fresh buying emerged around the 100-hour Simple Moving Average (SMA), propelling the white metal above the mid-$62.00s during the Asian session—marking a 1.25% daily gain.

This bounce reinforces the multi-week uptrend, driven by safe-haven demand amid geopolitical tensions, persistent inflation concerns, and industrial demand from solar and electronics sectors.

  • Support and Bounce Dynamics: The 100-hour SMA acted as a reliable floor, with prices rebounding sharply. Breaking back above the $62.00 psychological level confirms bullish control, targeting intermediate resistance at $63.50 (near Friday’s high) and the all-time peak at $64.65.
  • Uptrend Integrity: Silver remains within a well-defined ascending channel on the 4-hour chart, with the 50-hour SMA now providing dynamic support near $61.80. A sustained hold here could eye $65.00 in the near term


Geopolitical risks (e.g., Middle East tensions) and a weakening USD (DXY below 105) bolster silver’s appeal over gold, especially for industrial users in India amid rising import duties on lab-grown alternatives. However, Fed rate cut expectations could cap gains if data softens. Bulls hold the edge for now—favor dips for longs—but avoid aggressive bets until RSI cools.

Jewellery Sector Implications: With MCX silver mirroring spot gains, Indian wholesalers may see margin relief. Monitor for $63+ breakouts to hedge physical inventory.

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GJEPC Auckland Visit Targets Growth In India-NZ Jewellery Trade

The Opportunity In New Zealand Is Significant Relative To The Current Level Of Jewellery Trade. India’s Gem and Jewellery Exports To New Zealand Rose 50.56% To US$25.46 Million In FY2025-26, From US$16.91 Million In FY2024-25.

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The GJEPC trade delegation’s Auckland programme has highlighted the scope for expanding India’s gem and jewellery exports to New Zealand as the two countries move towards implementing their recently concluded Free Trade Agreement (FTA).

The Auckland visit was part of GJEPC’s Australia and New Zealand trade delegation, held from 20-26 August 2026, with the delegation focused on connecting Indian manufacturers and exporters with buyers and industry stakeholders across the two markets.

The opportunity in New Zealand is significant relative to the current level of jewellery trade. India’s gem and jewellery exports to New Zealand rose 50.56% to US$25.46 million in FY2025-26, from US$16.91 million in FY2024-25.

The recently concluded India-New Zealand FTA is expected to create further opportunities for Indian exporters. New Zealand has committed to duty-free access for Indian exports across 100% of its tariff lines once the agreement enters into force.

On 26th August, Vijay Mangukiya, Convener – International Events, GJEPC and leader of the delegation, met Dr. Madan Mohan Sethi, Consul General of India in Auckland. Mangukiya has said the delegation was aimed at bringing Indian manufacturers and exporters closer to buyers and industry stakeholders in both Australia and New Zealand, with the objective of identifying new business opportunities and developing long-term partnerships.

The delegation’s Auckland market visits covered a broad cross-section of the local jewellery sector, including Michael Hill, Wallace Bishop, Hardy Brothers, Prouds, and Partridge Jewellers. The delegation also observed international luxury and contemporary jewellery brands including Van Cleef & Arpels, Roberto Coin, Messika and FOPE, reflecting the competitive environment in which Indian exporters would be seeking to establish or expand relationships.

India’s exports of individual jewellery categories to New Zealand also recorded strong growth in FY2025-26. Gold jewellery exports rose 84% to US$17.47 million, while silver jewellery exports doubled to US$0.91 million. Lab-grown diamond exports rose 2% to US$0.63 million, and imitation jewellery increased 13.16% to US$0.43 million. Cut and polished diamond exports were US$5.76 million.

The figures underline the growing contribution of finished jewellery to India’s New Zealand business. With the FTA expected to improve market access and the Auckland market showing demand across gold, diamonds, coloured stones, pearls and branded jewellery, GJEPC’s delegation is seeking to convert this existing growth into deeper commercial relationships.

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