Gold prices remained subdued on September 24 as expectations of further US Federal Reserve rate hikes strengthened, while softer oil prices provided limited support to bullion.

India’s gem and jewellery exports rose 3.14% to $2.30 billion in August, led by a 51.22% increase in studded gold jewellery exports, while plain gold and silver jewellery remained under pressure.

Goldman Sachs’ Tony Kim expects gold’s current pause to give way to fresh highs, with sustained central-bank buying providing strong structural support for prices.

Jewellery stocks fell on September 1 after Prime Minister Narendra Modi urged Indians to avoid unnecessary gold purchases, citing Swadeshi and self-reliance, raising concerns over demand and jewellery buying patterns.

India’s INR 7 lakh crore jewellery market is seeing lower gold volumes but higher consumer spending, prompting retailers to focus on lightweight, lower-carat and studded jewellery.

India’s gem and jewellery exports rose 2.44% to $9.17 billion during April-July 2026, supported by studded gold, silver and platinum jewellery despite weaker diamond shipments.

MCX silver futures rose Rs 2,134 per kg on August 10, while gold declined Rs 360 as investors booked profits and awaited US inflation data for rate cues.

India’s gold market slowed through May and early June as higher import duties, price volatility and seasonal factors curtailed jewellery demand, while ETF outflows and imports also declined.

Platinum Guild International’s 2025 Business Review says platinum jewellery demand rose across major markets despite high gold prices, tariffs and manufacturing pressures, with resilience expected to continue into 2026.

India’s gem and jewellery exports totalled $4.27 billion in April-May 2026, while GJEPC urged the government to address gold supply constraints and regulatory issues affecting export manufacturing.

Gemfields sold 183,385 carats of higher-quality rough emeralds in Bangkok and online during May 2026, citing stable demand, cautious buying sentiment and macroeconomic pressures affecting coloured gemstone trading.

Delhi Jewellers Association conducted the DJABL 2026 auction ceremony in New Delhi on May 19, bringing together jewellers, sponsors and players ahead of the badminton league scheduled for May 30-31.

India's listed jewellers have posted their best March quarter on record. Strip out a 79% rise in the gold price, and a quieter, more uncomfortable picture emerges — one the unorganized trade and several regional listings have already started to live with.

World Gold Council’s Q1 2026 report shows global gold demand rose 2% year-on-year as record prices reduced jewellery volumes but boosted bar, coin and ETF investment demand worldwide.