International News
ALROSA reports 5.7% revenue dip, net profit rises 26.6% driven by sale of Catoca stake
Russian diamond giant ALROSA reported a 5.7% decline in revenue for the first nine months of 2025, totaling RUB 157 billion (USD 419 million), as it continues to navigate subdued sales volumes, lower prices, and the impact of Western sanctions.
While revenue for the first half had plunged 24%, the latest results suggest a modest recovery in recent months. However, gross profit fell 37% year-on-year to RUB 33.9 billion (USD 90 million), reflecting ongoing weakness in rough diamond prices.
In contrast, net profit rose 26.6% to RUB 35.8 billion (USD 95 million), primarily driven by the sale of ALROSA’s 41% stake in Angola’s Catoca diamond mine for RUB 159 billion (USD 424 million).
To mitigate market volatility, ALROSA has halted operations at several low-margin mines and signaled further cost-cutting measures, including potential job reductions. The miner has also been selling rough diamond inventories to Gokhran, Russia’s state repository, as part of its stabilisation efforts.
- As investors continued to reduce their bets on US rate cuts, gold prices hovered around a four-week low, staying around $4000.
- While the ISM Services PMI reached an eight-month high, US private ADP payrolls increased by 42,000 in October, above projections of a 25,000 increase. Given that inflation is currently higher than expected and that important labor data is being delayed by the government shutdown, the numbers confirmed forecasts that there is little opportunity for further rate decreases.
- The longest U.S. government closure in history is the result of a congressional impasse, forcing markets and the data-dependent Fed to rely on private sector statistics.
- A number of Fed officials have been speaking in a hawkish manner lately, which is consistent with Chair Powell’s recent comments that the most recent rate cut may be the final one for the year.
Technical Triggers
- Gold prices are expected to consolidate in the range of $3900 (~Rs 117,500) to $4060 (~ Rs 122,500) for the next few days, so buy on dips and sell on rallies.
- Silver prices are expected to consolidate in the range of 45.5(~Rs 140,000) and $49 (~Rs 150,000) for the next few days, so buy on dips and sell on rallies.
Support and Resistance
| Category | Support Level | Resistance Level |
|---|---|---|
| International Gold | $3,900/oz | $4,060/oz |
| Indian Gold | ₹117,500 / 10 gm | ₹122,500 / 10 gm |
| International Silver | $45.5/oz | $49/oz |
| Indian Silver | ₹140,000 / kg | ₹150,000 / kg |
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