National News
AUGMONT WEEKLY BLOG:Gold on beast mode as Liberation Day approaches
Gold has continued its terrific run, on beast mode, hitting $3177 (Rs 91400) to set another milestone, as uncertainty about tariffs that would drive inflation and deteriorate economic development boosted safe-haven demand and maintained gold on track for its best quarter since 1986. The buying demand in gold continues unabated, with markets scrambling for shelter in the traditional store of wealth amid concerns over US President Donald Trump’s tariff plans on ‘Liberation Day’, April 2.
What is Liberation Day?
As per Wikipedia, “Liberation Day is a day, often a public holiday, that marks the liberation of a place, similar to an Independence Day. Liberation marks the date of either a revolution, as in Cuba, the fall of a dictatorship, as in Syria, or the end of the occupation by another state, as in the Netherlands, thereby differing from the original independence day or creation of statehood, while in Italy commemorates the victory of the Italian resistance movement against Nazi Germany and the Italian Social Republic, a puppet state of the Nazis and rump state of the fascists, the culmination of the liberation of Italy from German occupation and the Italian civil war in the latter phase of World War II”.
US Liberation Day on April 2
Donald Trump has threatened a “Liberation Day” with tariffs on countries having persistent trade deficits with the US. On Wednesday, April 2, the world will learn about Donald Trump’s new style of doing business with almost everyone. That is when the White House will unveil its tariff plan, which includes duty increases for all countries that trade products and services with the United States. Trump has not hinted at imposing a levy on gold, but the prospect of such a move has pushed prices to their current levels. Is gold taxed on imports? We find out on Wednesday. Until then, speculation is likely to continue in full swing.
Trump rattling the markets
Furthermore, US President Donald Trump shook markets last week by placing 25% tariffs on all non-American vehicles and light trucks ahead of the so-called reciprocal tariffs, which are scheduled to take effect on April 2. On Sunday, Trump expressed his rage and frustration with Russian President Vladimir Putin, threatening large tariffs on Russian energy and even bombings in Iran. He also stated that if he believes Moscow is impeding his efforts to end the Ukraine conflict, he will slap secondary tariffs ranging from 25% to 50% on Russian oil customers. Trump also slammed Ukrainian President Volodymyr Zelenskiy, warning that he would suffer serious consequences if he pulled out of the important rare earth minerals deal. This further weighs on investors’ sentiment and contributes to the global flight to safety.
What next?
Bullion is up around 18% this year after climbing more than 27% in 2024, owing to a favorable monetary policy background, significant central bank buying, and demand for exchange-traded funds, among other things. This comes on top of continuing concerns over slowing US economic growth, which drives stagflation fears, pulling the US Dollar down and providing more support to gold.
The next resistance for gold is $3210(~Rs 92000) while Silver is stuck in the range of $33 to $35, prices need to sustain above its $35 resistance to head higher towards $38.
National News
Platinum Jewellery Into The Spotlight, PGI’s Retail Partners In India Reporting A 10% Year-On-Year Rise In Retail Sales
Soaring Gold and Silver Prices Reshape Consumer Preferences Amidst Growing Appetite For Contemporary Designs
As soaring gold and silver prices reshape consumer preferences, platinum jewellery is emerging as an increasingly attractive alternative in India, driven by affordability concerns, changing aesthetics, and a growing appetite for contemporary designs among younger buyers.
With gold prices touching nearly Rs. 1,58,000 per 10 grams, many consumers—particularly millennials and urban professionals—are rethinking traditional jewellery purchases. Platinum, despite its own sharp rise in prices, is being viewed as a relatively accessible premium option. Currently trading at around Rs. 70,000 per 10 grams, platinum remains significantly cheaper than gold, even after doubling from its 2025 average of Rs. 36,000 per 10 grams.
Jewellers say the shift is especially visible in categories such as wedding bands, daily wear jewellery, and minimalist luxury pieces. Young consumers are increasingly favouring platinum for its understated elegance, durability, and contemporary appeal.
Industry insiders note that platinum has historically struggled for mainstream acceptance in India, where gold dominates both cultural sentiment and investment behaviour. However, sentiment appears to be changing. Retailers said enquiries for platinum have risen sharply as consumers begin to view the metal not only as a style statement but also as a potential store of value.
The renewed interest comes despite higher import duties. India recently increased import duty on gold and silver from 6% to 15%, while platinum duty rose from 6.4% to 15.4%. Yet, the pricing gap between platinum and gold continues to work in platinum’s favour.
Brands are also moving quickly to capitalise on the momentum. Jos Alukkas recently launched a new platinum jewellery campaign featuring actor Dulquer Salmaan as brand ambassador. The campaign positions platinum as a symbol of individuality and sophistication, showcasing rings, chains, bracelets and other designs for men and women.
The trend is also backed by global market data. Platinum Guild International (PGI), in its Q4 2025 report, noted growing momentum for platinum jewellery across India, China, Japan and the US as elevated gold prices alter buying patterns. In India and the Middle East, platinum jewellery outperformed broader market trends, with PGI’s strategic retail partners in India reporting a 10% year-on-year rise in retail sales, aided by festive demand and rising preference for lightweight jewellery.
For India’s jewellery market, platinum’s rise may signal more than a temporary shift driven by gold prices. As consumers increasingly seek jewellery that blends luxury with wearability and individuality, platinum appears to be carving out a stronger, more permanent niche in the country’s evolving precious metals landscape.
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