International News
Silver surges to $62.9 on Fed rate cut, industrial demand
Silver extended its winning streak to three consecutive sessions on Thursday, climbing to $62.9 during Asian trading hours. The precious metal’s sharp ascent follows the U.S. Federal Reserve’s widely anticipated 25-basis-point interest rate reduction, which catalyzed aggressive bullish positioning among traders despite market expectations.
Domestic markets reflected the international rally with equal intensity. On India’s Multi-Commodity Exchange (MCX), silver futures surged Rs 5,500—a substantial 2.84% gain—to reach Rs 1,94,000 per kilogram. The contract briefly touched Rs 1,93,720 per kg during intraday trading.
This week, silver has gained over 7%, with month-to-date gains hitting nearly 10%. Minor pullbacks, such as the dip from $62.9, occurred on low volume, showing that selling pressure is limited. The 20-day EMA at $61.6, which had been resistance, now acts as solid support. Investors are defending these levels, keeping silver firmly in bullish territory.
Even with the Fed’s cautious stance, the macro backdrop favors silver. Jerome Powell noted that inflation remains high, but employment risks have grown, leaving investors optimistic about future rate cuts in 2026. Weak real yields, a softening dollar, and cautious market sentiment amid AI sector uncertainty are all reinforcing silver’s appeal.
Beyond monetary policy tailwinds, analysts attribute silver’s robust performance to surging industrial consumption across critical sectors. rally underscores both global monetary easing sentiment and the fundamental shift in silver’s industrial demand profile
International News
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.
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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