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Silver sees modest gains, but overall bearish tone persists

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Silver (XAG/USD) sees modest gains, trading around $30.15 during Tuesday’s(Apr 8) Asian session. Despite the uptick, the overall bearish tone persists, as reflected in technical indicators and broader market sentiment.

Investors appear to be locking in profits or covering margin positions amid global trade tensions, which continue to weigh on risk appetite. However, a weaker U.S. dollar may help cushion silver’s downside, given its status as a USD-denominated asset.

From a technical standpoint, silver remains under pressure below the 100-day Exponential Moving Average (EMA). The 14-day Relative Strength Index (RSI) hovers around 32.70, below the neutral 50 mark, reinforcing the bearish momentum.

Key support lies at the psychological $30.00 level. A break below this could expose further downside towards $28.80 — the December 20, 2024 low — followed by $28.31, the low from April 7.

On the upside, immediate resistance is seen at $30.85, the January 21 high. A sustained move above this level could open the door to $31.77 (100-day EMA), with further bullish extension toward $33.20 — the February 20 peak.

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Indian Consulate In New York Hosts India-USA Virtual Jewellery Exhibition; Facilitated By GJEPC

The Exhibition Brought Together 35 Indian Companies, Many Of Them Micro, Small and Medium Enterprises (MSMEs), Offering US Buyers An Opportunity To Explore Indian Jewellery Collections and Establish Direct Business Connections.

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The Consulate General of India in New York, in collaboration with the Gem & Jewellery Export Promotion Council (GJEPC), organised the India-USA Virtual Exhibition on Gems & Jewellery on 23 October 2026, connecting Indian exporters with American buyers through a digital platform.

The inaugural ceremony featured welcome remarks by Ambassador HE . Binaya S. Pradhan, Consul General of India in New York, an inaugural address by Kirit Bhansali, Chairman, GJEPC, and closing remarks by Rajlakshmi Kadam, Consul (Trade), Consulate General of India, New York.

The exhibition brought together 35 Indian companies, many of them micro, small and medium enterprises (MSMEs), offering US buyers an opportunity to explore Indian jewellery collections and establish direct business connections. The event was designed to help exporters reach new customers and develop partnerships in one of India’s most important markets.

Addressing participants, Kirit Bhansali, Chairman, GJEPC, highlighted the importance of the US market, which accounted for around 30% of India’s gem and jewellery exports, worth nearly US$10 billion, in FY2024-25. He noted that tariff uncertainty had affected trade significantly, with India’s gem and jewellery exports to the US falling by more than 44% between April and December 2025.

However, trade has begun to recover. Between April and September 2026, India’s gem and jewellery exports to the US grew nearly 6% year-on-year to almost US$3 billion, compared with US$2.77 billion in the corresponding period of 2025.

Kirit Bhansali also referred to progress on the proposed India-US Bilateral Trade Agreement, expressing hope that it would provide greater clarity and predictability for exporters and buyers once its terms are finalised.

With the US holiday season approaching, followed by Valentine’s Day and retailers’ sourcing plans for 2027, he urged American buyers to explore India’s manufacturing capabilities across diamonds, coloured gemstones and gold jewellery. He also encouraged buyers to engage directly with participating MSMEs, highlighting their skills, flexibility and ability to meet varied sourcing requirements.

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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.

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