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ETMarkets.com The government’s recent clarification on silver jewellery import rules has brought major relief to exporters and genuine market participants, according to Naveen Mathur, Director – Commodities, Currencies, and International Business at Anand Rathi Share.Speaking to ET Now, Mathur said the October clarification by the DGFT (Directorate General of Foreign Trade) has effectively removed uncertainty created by the earlier notification and will help distinguish genuine exporters from misuse-prone operators in the market.“This clarification gives a big respite to legitimate players operating under SEZs, 100% export-oriented units, and those using duty-free import authorization (DFIA). It’s a timely and positive move ahead of the festive season,” Mathur said.Clarification removes policy ambiguity, benefits export unitsThe DGFT’s clarification formalized that import exemptions for silver jewellery would continue for SEZs, EOUs, and DFIA license holders, ensuring that legitimate exporters can operate smoothly without facing procedural delays.“It effectively stops misuse by non-compliant players while allowing licensed entities to continue their business seamlessly,” Mathur added.Live EventsYou Might Also Like:Silver ETFs down up to 28%: Buy the dip or stay away?He noted that this step also helps restore price stability in the domestic market, which had seen sharp premiums of ₹20,000–₹25,000 per kg amid uncertainty over import norms before Diwali.Silver prices off record highs but long-term bullish trend intactMathur said silver prices, which touched an all-time global high of $54.47 per ounce in September, have since corrected but remain elevated due to tight global supply, robust ETF demand, and central bank diversification.“Silver has been in a supply deficit for the last five years. ETFs and central bank buying have added to investment demand,” he said.Currently, silver on MCX is trading near ₹1,45,000 per kg, while global spot prices hover around $47.50 per ounce.You Might Also Like:Gold price prediction, silver rate outlook for 2026: Will gold rate fall next year? Experts predict hereMathur expects a short-term correction but remains bullish for the long term, projecting silver to consolidate near ₹1.50 lakh per kg by end-2025.Gold prices stable; long-term view remains positiveMathur expects gold to continue performing as a safe-haven asset, supported by central bank accumulation and weaker U.S. dollar prospects once the Federal Reserve starts cutting rates.“Gold will continue to attract investors seeking stability amid geopolitical tensions and global economic uncertainty,” he said.He forecasts gold prices to consolidate around ₹1,25,000 per 10 grams by end-2025, driven by global monetary easing and continued investor demand through ETFs.You Might Also Like:MCX launches Bulldex index options; new tool helps investors hedge against gold-silver volatilityFestive season boost for silver jewellery exportsWith the DGFT clarification aligning trade policy ahead of India’s festive and wedding season, Mathur expects silver jewellery exports to see a rebound.“The move ensures smooth import flow for licensed exporters and could improve export performance this quarter,” he said.According to Mathur, while global volatility may continue to affect short-term bullion prices, the domestic policy stability and steady demand from exporters will cushion the Indian silver market in coming months.Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our ETMarkets WhatsApp channel) Read More News onanand rathi sharesilver jewellery import rulesexporters relief silver jewelleryDGFT clarification impactsilver jewellery trade policysilver price forecast 2025gold price stabilityfestive season silver jewellery exportsNaveen Mathur | Anand Rathi Sharesilver supply deficit (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price...moreless (You can now subscribe to our ETMarkets WhatsApp channel)Read More News onanand rathi sharesilver jewellery import rulesexporters relief silver jewelleryDGFT clarification impactsilver jewellery trade policysilver price forecast 2025gold price stabilityfestive season silver jewellery exportsNaveen Mathur | Anand Rathi Sharesilver supply deficit(What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. 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