National News
AUGMONT Bullion Daily Report
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Fundamental News and Triggers
Gold acts as a shelter to weather the storm of unpredictability.
• Gold prices hit a record high above $2850 (around Rs 82000) after the dollar declined following a report that revealed the U.S. economy grew more slowly than anticipated in the fourth quarter. The fourth quarter saw a 2.3% increase in the US GDP, which was less than the 2.5% increase that was predicted and down from the 3.1% increase in the previous quarter.
• President Donald Trump reiterated his threats to put a 25% tariff on United States goods from Canada and Mexico. Gold has seen safe-haven flows due to repeated tariff threats.
• Trump’s immigration and tariff policies continue to be the main emphasis, along with their potential effects on inflation and the economy. If the inflation data today rises to the downside, it may indicate that the Fed has more leeway in its policies, which might advance hopes of a rate decrease and boost gold prices.
Technical Triggers
• As forecasted, gold prices have achieved the target of $2800 (~Rs 81000). We can see some profit booking today before prices can rise further.
• Silver prices have sustained above $31(~Rs 93000) to start their bullish momentum towards $32 (~Rs 96000).
Support and Resistance
International Gold Support level : $2790/oz
International Gold Resistance level : $2900/oz
Indian Gold Support level : Rs 81000/ 10 gm
Indian Gold Resistance level : Rs 83000/ 10 gm
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International Silver Support level : $29.5/oz
International Silver Resistance level : $32/oz
Indian Silver Support level : Rs 92500/ kg
Indian Silver Resistance level : Rs 96000/ kg
National News
Rajiv Jain Elected Chairman Of Jaipur Jewellery Show
The members expressed their confidence that, under his leadership, JJS will continue to achieve new milestones while further strengthening its position as one of the country’s premier gem and jewellery exhibitions.
The Jaipur Jewellery Show Organising Committee has unanimously elected Rajiv Jain as the Chairman of Jaipur Jewellery Show (JJS). Rajiv Jain is a distinguished industry leader with decades of exemplary service to the gem and jewellery sector and had held many important positions.
A few of the key positions held by him are: Past Chairman, Gems & Jewellery Export Promotion Council (GJEPC), sponsored by the Ministry of Commerce & Industry, Government of India; Chairman, Confederation of Indian Industry (CII), Rajasthan; Founder Chairman, Museum of Gems & Jewellery, Jaipur; and Past Chairman, Indian Institute of Gems & Jewellery, Jaipur (IIGJ Jaipur).
Rajiv Jain succeeds Vimal Chand Surana, who has served as the Chairman of JJS for the past 19 years. Under his visionary leadership, Jaipur Jewellery Show has evolved into one of India’s most respected and successful gem and jewellery exhibitions. In recognition of his distinguished service, exemplary leadership, and invaluable contribution to the growth of JJS, the Organizing Committee has unanimously named him as the Patron of Jaipur Jewellery Show.
Following these appointments, the Executive Committee of Jaipur Jewellery Show (JJS) is constituted as under: Vice Chairman, Dinesh Khatoria; Secretary, Kamal Kothari; Joint Secretary, Ajay Kala; Joint Secretary, Ashok Singhi; and Treasurer, Dr. Nawal Agrawal.
The members conveyed their heartfelt congratulations to Shri Rajiv Jain on his unanimous election as Chairman and expressed their confidence that, under his leadership, Jaipur Jewellery Show will continue to achieve new milestones while further strengthening its position as one of the country’s premier gem and jewellery exhibitions.
The Organizing Committee looks forward to the continued support and active cooperation of all Committee Members and Sub-Committee Members in carrying forward the vision and legacy of Jaipur Jewellery Show.
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