International News
Angola aims to increase annual production to 17.53m carats by 2027; become the world’s third largest rough producer.
Angola aims to increase annual diamond production to 17.53m carats by 2027, and to become the world’s third largest rough producer.It is forecasting a 50 per cent increase in diamond revenue this year from $1.4bn in 2024 to $2.1bn.
Angola has vast mineral wealth – including huge, unexplored diamond reserves – but the devastating civil war (1975 to 2002) has hampered its economic development.However, De Beers and Rio Tinto are now prospecting, and in November 2023 the new Luele (formerly known as Luaxe) mine opened. It will eclipse Catoca as the country’s biggest mine, and is expected to produce 6m carats annually.
As part of its National Development Plan 2023-2027, Angola plans to channel diamond mining revenues into food security, employment generation, and poverty reduction.It recovered 9.8m carats in 2023, maintaining its position as the world’s sixth biggest rough producer and was expected to produce up to 14.6 million carats in 2024.
International News
Safe-Haven Rebound Amid Geopolitical Easing and Macro Uncertainty Augmont Bullion Report
Gold Has Bounced From The $4,500–4,550 (~Rs. 1,49,000) Support Zone and Is Now Targeting Resistance At $4,800–4,850 (~Rs. 1,55,000)
- Safe-Haven Dynamics – Gold and silver have recovered from key support levels as Middle East de-escalation signals pressured oil prices, reducing inflation concerns. The dollar weakened against major currencies after the US indicated progress toward an Iran deal, while the yen surged to a two-month high amid intervention expectations.
- Geopolitical Developments – President Trump announced a temporary pause in “Project Freedom” — the US military’s commercial shipping escort operation through the Strait of Hormuz — to allow time for a potential Iran agreement. Trump confirmed via Truth Social that negotiations have advanced significantly toward a comprehensive deal.
- Macro-economic Signals – Market attention now shifts to the upcoming non-farm payrolls data, which will indicate whether economic resilience justifies holding Fed policy steady or whether labour market softening strengthens the case for rate cuts.
Technical Triggers
- Gold has bounced from the $4,500–4,550 (~Rs. 1,49,000) support zone and is now targeting resistance at $4,800–4,850 (~Rs. 1,55,000).
- Silver has recovered from the $73 (~Rs. 2,43,000) support level and is expected to advance toward resistance at $77–78 (~Rs. 2,54,000–2,56,000).
Support and Resistance
| International Gold Support Level International Gold Resistance Level Domestic Gold Support Level Domestic Gold Resistance Level | : $4500/oz : $4850/oz : Rs 148,000/10 gm : Rs 155,000/10 gm |
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