International News
The 2nd SEZ Gem and Jewellery Conclave
Conclave provided valuable insights in technology, branding, exports, SEZ policy
The Second SEZ Gem and Jewellery Conclave held at Bharatratnam Mega CFC in SEEPZ, Mumbai, brought together influential stakeholders from across the gem and jewellery sector to deliberate on industry growth, innovation, and policy advancements.The conclave provided valuable insights into the latest industry trends in technology, branding, exports.
The conclave was inaugurated by Dr P Anbalagan, IAS, Principal Secretary, Industries Department, Government of Maharashtra. Present at the inauguration were Kirit Bhansali, Chairman, GJEPC, Saunak Parikh, Vice Chairman, GJEPC, Suvankar Sen, MD, Senco Gold & Diamonds, Sabyasachi Ray, ED, GJEPC, Colin Shah, Head of the Working Group, Bharat Ratnam Mega CFC and Adil Kotwal, Director – SEEPZ GJ Manufacturers Association.
Dr. P Anbalagan in his inaugural address said “The Union and state governments aim to grow India’s economy from USD 3 trillion to USD 30 trillion, requiring double-digit growth across sectors, with Maharashtra as a key driver. As the state with the highest FDI, Maharashtra targets a USD 1 trillion economy in 4-5 years, needing 13-14% annual growth. We are looking at the GJ sector as generator of employment and employment.The employment intensive GJ sector will be cornerstone of Maharashtra becoming a $1 trillion economy.The GJ sector in Maharashtra is contributing 47 per cent of India’s GJ exports.”
Track 1 – Technology included: Platinum Group Metal Recycling , Dr Debashish Bhattacharya, Technical Director of Covalence, India, Casting, Stamping and Tubing in Platinum, Dr. Peter Hofmann, Chairman of INDUTHERM, Germany and Rakesh Jangid, Technical Director, Lagor India, 3D Printing of Precious Metal for Commercial Use-Dr Andrea Friso, R&D Head, Legor Italy ,Technology in Diamond Testing, Jayant Kulkarni , Partner ,SGL, Challenges in Identification of Lab Grown Diamonds by Deepa Srinivasa, Chief Gemmologist – Research & Development – GSI, India
Track 2 – Branding included: Redefining Businesses by Sachin Jain, Educator, LÉCOLE School of Jewellery Arts , Dubai, Revitalizing Diamond Desire by Amit Pratihari, Managing Director, De Beers.
Track 3 – Investments included: Booster to G&J Manufacturing by Sabyasachi Ray, Executive Director, GJEPC ,Draft Report of Common SoP for SEZs by Nishant, Partner, ELP.
With key decision-makers in attendance, the conclave promises to be an influential platform for shaping the future of the sector.
International News
Bullion Prices Recover On Technical Buying Amid Geopolitical Uncertainty AUGMONT BULLION REPORT
Markets Largely Expect The Fed To Hold Rates Steady At Next Week’s Meeting, Though They’re Pricing In A More Than 55% Chance Of A Rate Hike In September.
Price Movement – Gold and Silver bounced back on technical buying as investors weighed the widening Middle East conflict and waited for next week’s U.S. Federal Reserve meeting for hints on where interest rates are headed. The conflict’s recent escalation pushed oil prices to their highest level in over a month on Monday, while more U.S. policymakers argued that rates might need to go up to keep inflation in check.
Geopolitical Tensions – Tehran received a proposal from mediators for a 10-day ceasefire, aimed at rescuing the interim ceasefire deal signed in June. Iran’s Interior Minister Eskandar Momeni traveled to Pakistan, a key mediator, and urged Islamabad to keep up its efforts.
Macro-Economic Signals – ADP data revealed that U.S. private employers added just 16,500 jobs per week on average in the four weeks ending July 4, down from 19,250 a week in the previous four-week stretch — the fourth consecutive slowdown in hiring. Markets largely expect the Fed to hold rates steady at next week’s meeting, though they’re pricing in a more than 55% chance of a rate hike in September.
Technical Triggers
If Gold falls below $4,000 (~Rs 1,41,000), it could slide further to $3,900 (~Rs 1,38,000). But if it manages to stay above $4,200, a fresh rally could take it toward $4,500 (~Rs 1,55,000).
For Silver, a strong move above $63 (~Rs 2,35,000) could push prices toward $70–71 (~Rs 2,51,000–2,55,000). On the other hand, a fall below $55 (~Rs 2,14,000) may drag it down to $50 (~Rs 2,00,000).
Support and Resistance
| International Gold Support Level International Gold Resistance Level Domestic Gold Support Level Domestic Gold Resistance Level | : $3900/oz : $4160/oz : Rs 137,000/10 gm : Rs 147,000/10 gm | |
| International Silver Support Level International Silver Resistance Level Domestic Silver Support Level Domestic Silver Resistance Level | : $55/oz : $63/oz : Rs 214,000/kg : Rs 235,000/kg |
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