Bullion

India’s gem and jewellery export sector, a vital contributor to the nation’s trade earnings, experienced a 4.62% year-on-year decline in April, reflecting a cautious global demand environment. According to data released by the Gem and Jewellery Export Promotion Council (GJEPC), exports dropped to USD 2,037.06 million from USD 2,135.7 million a year earlier. Declines were observed across key categories such as cut and polished diamonds and gold jewellery. However, some segments, including coloured gemstones, managed to post gains, indicating nuanced shifts in demand patterns.

In a volatile turn of events on the national stock market, gold prices have plunged by Rs 1,050, settling at Rs 90,200 per 10 grams, largely due to a decline in demand from stockists and retailers. Conversely, silver prices saw a significant uptick, rising by Rs 500 to Rs 93,200 per kg. The market’s reaction comes amidst the backdrop of renewed fears of a global trade war between the United States and China, with gold and silver emerging as favored safe-haven assets.