International News
Silver prices to rise beyond $40/oz: Citigroup
Citigroup analysts expect silver prices to rise beyond $40 per ounce in the coming months as physical supplies tighten and investment demand grows. Analysts at Citigroup increased their three-month silver price forecast from $38 to $40 in a report recently. The gold-silver ratio has been flashing a breakout signal in silver prices.
Silver currently trades at $38, up over 3% in the last 1 month. With a 24% increase in the past year and a 30% year-to-date increase, silver prices have risen to their highest level in over 13 years. Silver prices will rise by 5% to $40 over the short term, and by 13% to $43 over the next 6-12 months, according to Citi projections.
according to Citi analysts, it is ‘not just a catch-up trade to gold,’ but also reflects solid silver fundamentals. Silver, a crucial industrial commodity and monetary asset, is playing an increasingly significant role in solar power, electronics, and electrification, accounting for over half of global demand.
Citi is not as bullish on gold’s future, which has risen by more than 27% in 2025 due to robust central bank purchases and exchange-traded fund inflows.Back in June, Citibank predicted that following a record-breaking gain, the price of gold is expected to reverse shortly and in the upcoming quarters, gold will drop below $3,000.
In India, silver traded at ₹119 per gram and ₹1,19,000 per kilogram. On the Multi Commodity Exchange (MCX), silver touched a record high of ₹1,15,136 per kg in the previous session.
Globally, spot silver edged up 0.3% to $38.24 per ounce after hitting its highest level since September 2011 on Monday (July 14).
Weakness in the rupee also kept domestic prices elevated. If the rupee slides further against the dollar while global prices stay stable, silver will get more expensive for Indian buyers.
DiamondBuzz
De Beers Group Launches “Heera Hai Aapke Liye” Program at IIJS Bharat Signature to Revolutionize Natural Diamond Accessibility in India
De Beers Group, the world’s leading diamond company, marked a significant milestone in the Indian jewellery landscape with the official launch of the “Heera Hai Aapke Liye” program at IIJS Signature. The star-studded event featured actress Sonakshi Sinha, who joined Shweta Harit, Global Senior Vice President of De Beers Group and CEO of Forevermark, to unveil an initiative dedicated to making natural diamonds an integral part of daily life for the modern Indian consumer.



The “Heera Hai Aapke Liye” (Diamonds are for You) program is strategically designed to promote natural diamonds by raising awareness, boosting market visibility,and creating a seamless connection between retailers and consumers. With a focus on modern designs and attractive price points, the program also lets local retailers use De Beers Group campaigns as their own—second-piercing earrings, ‘Bestie’ bracelets, and ‘Intention’ pendants. It positions diamonds as a lifestyle choice for self-expression and daily wear.

Speaking at the launch, Shweta Harit, Global Senior Vice President of De Beers Group and CEO of Forevermark, detailed the evolution of the brand’s storytelling, stating, “De Beers Group has a rich legacy of creating iconic ritual campaigns that have shaped how the world perceives diamonds. With ‘Heera Hai Aapke Liye,’ program we are evolving that narrative for the Indian market to another level.
We are not just selling jewellery, we are making natural diamonds more accessible and desirable in India. Our goal is to empower retailers through INDRA (Indian Natural Diamond Retailer Alliance) to ensure that every ‘First Diamond’ journey is as credible as it is beautiful.”

Speaking on the occasion, Kirit Bhansali, Chairman, Gem & Jewellery Export Promotion Council (GJEPC), said, “IIJS has always been a powerful platform for shaping the future of India’s gem and jewellery industry, and the launch of ‘Heera Hai Aapke Liye’ at IIJS Signature reinforces that role. GJEPC is proud to partner with De Beers Group on the INDRA (Indian Natural Diamond Retailer Alliance) project, which is a critical step towards strengthening domestic demand for natural diamonds.
By empowering retailers, enhancing consumer confidence, and expanding access across metros and Tier 2 markets, this initiative aligns perfectly with our vision to grow the natural diamond category sustainably within India.”
The program ‘Heera Hai Aapke Liye’, rests on few strategic pillars aimed at industry growth and scalability:
- Stocking & New Consumer Opportunity: Identifying gold wholesalers and distributors across 15–20 cities to focus on a first-phase target of 500 retailers.
- Retailer Advantage: Providing a “Design Advantage” and strict “Product Hygiene,” backed by a clear buy-back policy and robust training and marketing support via the INDRA alliance.
- Heera Hai Aapke Liye is robust entry-level product kit featuring earrings, bangles, bracelets, etc supported by exclusive visual merchandising (VM) for display.
- Growth and Scalability: A PAN-India reach strategy designed to unlock new business opportunities for both manufacturers and retailers.


As India continues to grow as the world’s second-largest market for retail diamond jewellery, De Beers Group remains committed to strengthening the natural diamond narrative. By combining the emotional appeal of natural diamonds with the practical “Heera Hai Aapke Liye” framework, De Beers aims to build a sustainable future for the category across both metros and Tier 2 cities. De Beers and GJEPC aim to expand the base of Natural Diamond buyers, increase self-purchase consideration, and establish long-term credibility for the category.
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