International News
Elevated rate cut expectation boosts precious metal prices AUGMONT BULLION REPORT
- Gold and silver rose to over two-week highs, as the dollar declined and the opportunity cost of storing bullion decreased due to predictions of a looser US policy. Three more cuts are expected before the end of 2026, and markets currently price in an 85% chance of a 25-bps cut in December, a significant increase from approximately 30% a week ago.
- When assessing the direction of rates, traders continue to give priority to the wider run of weak demand indicators and dovish Fed commentary because the economic data mix was uneven but still consistent with policy easing. Initial jobless claims were surprisingly lower, and durable goods orders came in stronger despite other readings signaling cooling.
- Reports that Kevin Hassett, the director of the White House National Economic Council, is the front-runner to be the next chair of the Federal Reserve raised expectations because investors believe that Hassett will support President Donald Trump’s desire for lower interest rates.
Technical Triggers
- Gold has again attempted to touch $4200 (~Rs 126,000) resistance of its rangebound momentum. Prices would need a solid trigger for prices to climb above $4200, if it does, next resistance would be $4245 (~Rs 127,800). If it doesn’t, then prices can fall back to $4100 (~Rs 123,000).
- Silver has again attempted to touch the resistance zone of $53.5-54 (~Rs 161,000-162,000), if it sustains, we can see rally towards $56 (~Rs 170,000). If it doesn’t sustain and rebounds back, we can see profit-booking towards $50 (~Rs 153,000).
Support and Resistance
| Commodity | Support Level | Resistance Level |
|---|---|---|
| International Gold | $4100/oz | $4200/oz |
| Indian Gold | ₹123,000 / 10 gm | ₹127,000 / 10 gm |
| International Silver | $50/oz | $54/oz |
| Indian Silver | ₹153,000 / kg | ₹162,000 / kg |
International News
GJEPC Auckland Visit Targets Growth In India-NZ Jewellery Trade
The Opportunity In New Zealand Is Significant Relative To The Current Level Of Jewellery Trade. India’s Gem and Jewellery Exports To New Zealand Rose 50.56% To US$25.46 Million In FY2025-26, From US$16.91 Million In FY2024-25.
The GJEPC trade delegation’s Auckland programme has highlighted the scope for expanding India’s gem and jewellery exports to New Zealand as the two countries move towards implementing their recently concluded Free Trade Agreement (FTA).
The Auckland visit was part of GJEPC’s Australia and New Zealand trade delegation, held from 20-26 August 2026, with the delegation focused on connecting Indian manufacturers and exporters with buyers and industry stakeholders across the two markets.
The opportunity in New Zealand is significant relative to the current level of jewellery trade. India’s gem and jewellery exports to New Zealand rose 50.56% to US$25.46 million in FY2025-26, from US$16.91 million in FY2024-25.
The recently concluded India-New Zealand FTA is expected to create further opportunities for Indian exporters. New Zealand has committed to duty-free access for Indian exports across 100% of its tariff lines once the agreement enters into force.
On 26th August, Vijay Mangukiya, Convener – International Events, GJEPC and leader of the delegation, met Dr. Madan Mohan Sethi, Consul General of India in Auckland. Mangukiya has said the delegation was aimed at bringing Indian manufacturers and exporters closer to buyers and industry stakeholders in both Australia and New Zealand, with the objective of identifying new business opportunities and developing long-term partnerships.
The delegation’s Auckland market visits covered a broad cross-section of the local jewellery sector, including Michael Hill, Wallace Bishop, Hardy Brothers, Prouds, and Partridge Jewellers. The delegation also observed international luxury and contemporary jewellery brands including Van Cleef & Arpels, Roberto Coin, Messika and FOPE, reflecting the competitive environment in which Indian exporters would be seeking to establish or expand relationships.
India’s exports of individual jewellery categories to New Zealand also recorded strong growth in FY2025-26. Gold jewellery exports rose 84% to US$17.47 million, while silver jewellery exports doubled to US$0.91 million. Lab-grown diamond exports rose 2% to US$0.63 million, and imitation jewellery increased 13.16% to US$0.43 million. Cut and polished diamond exports were US$5.76 million.
The figures underline the growing contribution of finished jewellery to India’s New Zealand business. With the FTA expected to improve market access and the Auckland market showing demand across gold, diamonds, coloured stones, pearls and branded jewellery, GJEPC’s delegation is seeking to convert this existing growth into deeper commercial relationships.
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