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
Gold and Silver Retreat As Dollar Holds Multi-Year Highs AUGMONT BULLION REPORT
Gold Slipped Below $4150 and Silver Edged Toward $63, On Mounting Expectations Of Federal Reserve Rate Hikes
- Price Movement – Gold slipped below $4150 and Silver edged toward $63, continuing their recent downward trend as mounting expectations of Federal Reserve rate hikes overshadowed cautious optimism around active US-Iran peace talks. Sterling is under additional pressure as the UK braces for an imminent change in prime minister. Meanwhile, speculative yen selling is intensifying, steadily testing the Japanese government’s tolerance threshold.
- Geopolitical Event– US has issued Iran a 60-day licence to sell oil on international markets, raising expectations of a faster-than-anticipated recovery in global crude supply. Traffic through the Strait of Hormuz has picked up, with producers including Kuwait and the UAE actively securing alternative export corridors. Iran alone shipped over 30 million barrels in the past week, signalling a meaningful near-term supply uptick.
- Macro-Economic Event – Market attention this week centres on the upcoming PCE report — the Fed’s preferred inflation measure — which is expected to shed fresh light on underlying price pressures. According to the CME FedWatch tool, traders are now pricing in an 89% probability of a Fed rate hike in December, a sharp jump from 61% prior to last week’s FOMC meeting.
Technical Triggers
- With Gold having broken below $4,200, the next key support zone sits at $4,050–$4,100, equivalent to approximately Rs 1,43,000–Rs 1,44,000
- Silver’s breach of the $65 support level shifts focuses to the $60–$61 range, or roughly Rs 2,20,000–Rs 2,15,000 on domestic markets.
Support and Resistance
| International Gold Support Level International Gold Resistance Level Domestic Gold Support Level Domestic Gold Resistance Level | : $4060/oz : $4350/oz : Rs 143,000/10 gm : Rs 154,000/10 gm |
| International Silver Support Level International Silver Resistance Level Domestic Silver Support Level Domestic Silver Resistance Level | : $60/oz : $71/oz : Rs 254,000/kg : Rs 215,000/kg |
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