International News
A world of extreme uncertainty sparks gold to cross $3200: AUGMONT BULLION REPORT
- Gold’s haven status has been underlined this week as it approaches $3240 (~Rs 92400). President Donald Trump’s flip-flopping message on his tariff plan sparks frenzied selloffs for US stocks, Treasuries, and the currency, as worries of a global recession grip Wall Street.
- Even after his 90-day tariff freeze on higher levies that struck dozens of trade partners, charges on all Chinese imports have risen to at least 145%, with Beijing threatening to retaliate with 84% tariffs.
- The Dollar Index has fallen below 100 as central banks around the world sell US bonds and increasingly buy gold.
- Tensions between the two countries have reignited fears of a US recession on the way. On Thursday, statistics indicated that underlying US inflation fell broadly in March, with traders now pricing in expectations for three interest-rate cuts in the remainder of the year, with the possibility of a fourth.
Technical Triggers
| Metal | Current Trend | Support Level | Buying Opportunity Zone | Target / Resistance Level |
|---|---|---|---|---|
| Gold | Rallied from $3000 to $3240 in 2 days | — | — | $3300 (~Rs 95,000) |
| Silver | Strong support around $29 (~Rs 87,000) | $29 (~Rs 87,000) | Below $30 (~Rs 89,000) | $32 (~Rs 94,000) |
DiamondBuzz
Diamond Slump forces Debswana to diversify into copper, platinum and solar
Diamond-centric mining models is giving way to broader resource portfolios
Debswana Diamond Company, the 50–50 joint venture between the Botswana government and De Beers, is moving to diversify into copper, platinum and renewable energy as the prolonged downturn in natural diamond demand pressures earnings and forces the industry to rethink its growth strategy.
The company’s board has approved plans to invest in a portfolio of non-diamond projects after revenue fell 46% in 2024, the latest available financial year, highlighting the scale of the downturn in the global diamond market.
The move signals a strategic shift toward commodities with stronger long-term demand fundamentals, particularly copper, which is central to global electrification and energy-transition infrastructure.
Debswana’s diversification reflects a broader industry pivot as diamond producers confront weak consumer demand, rising competition from lab-grown stones and elevated inventories across the supply chain.
The shift is also visible among smaller exploration companies. Botswana Diamonds recently rebranded as Botswana Minerals, signalling its own strategic focus on copper exploration rather than diamonds.
Together, these moves underscore a growing consensus across the sector: the era of diamond-centric mining models is giving way to broader resource portfolios anchored in energy-transition metals.
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