• Gold and silver prices are staying within a narrow range as traders await significant movements in anticipation of Fed Chair Powell’s Jackson Hole speech, which could provide clues about the direction of US policy.
• Despite indications of a weakening job market and inflation that is still above goal and susceptible to pressures from tariffs, Fed policymakers on Thursday showed scant support for a rate decrease next month, leaving markets looking to Powell’s speech for clarity. 
• With markets pricing in a 75% chance of a quarter-point cut, investors continue to view policy easing as a possibility in September.
• Geopolitical optimism for a possible peace agreement between Russia and Ukraine waned when reports surfaced that Russia had launched its biggest drone and missile attack on Ukraine in over a month. Moscow accused Kyiv of rejecting the prospect of a “lasting and fair settlement.

Technical Triggers        

• Gold seems to continue its downward trajectory after sustaining below $3400. Next support is $3340 (Rs 98500), while $3445 (Rs 100,500) remains the resistance.
• Silver prices are expected to consolidate in a range of $37(Rs 110,500) to $39 (Rs 115,000). Buy on dips and sell on rallies.

Support and Resistance

Sriram Natarajan, who previously served as Managing Director of GIA India Laboratory Private Limited, assumed his new role in early August at GIA’s world headquarters in Carlsbad, California, reporting to GIA President and CEO Pritesh Patel.

In this capacity, Natarajan will oversee global laboratory operations, including diamond grading and jewellery services, and shape the vision and strategy for GIA’s expanding laboratory network.

“Ram is a dynamic leader closely attuned to GIA’s mission and the needs of our laboratory clients,” said Pritesh Patel, President and CEO, GIA. “As we continue to introduce new technologies and processes to advance efficiency, and develop new laboratory products and services, his expertise, insight and experience will be invaluable.”

Natarajan joined GIA India in 2017 as Vice President of Laboratory Operations and was elevated to Managing Director in 2020. In that role, he led education and laboratory initiatives across India, drawing on more than three decades of international operational and leadership experience.

“It is an honor to take on responsibility for overseeing GIA’s gemological laboratories,” Sriram Natarajan said. “I look forward to working with our teams and clients to deliver high-quality laboratory services and uphold the standards of excellence that GIA is known for.”

GIA said a new Managing Director for GIA India Laboratory Private Limited will be announced in the fourth quarter of 2025.

Pandora, which operates more than 6,700 points of sale worldwide, said its strategic “Phoenix” growth plan—focused on brand elevation, product design, market expansion, and personalization—is steadily paying off.

For the quarter ended June 30, Pandora posted 8% organic growth, up from 7% in the previous quarter. The company expects organic growth in the 7–8% range for the full year. Like-for-like sales rose 3% overall, with the US market leading at 8% growth, while Europe showed a modest 1% increase.

Despite what it described as a “turbulent” global economic climate, including pressures from foreign exchange, tariffs, and commodity prices, Pandora said both revenue and margins remained resilient.

“In these turbulent times, we are satisfied with yet another quarter of high single-digit organic growth and strong profitability,” said Alexander Lacik, Pandora’s President and CEO, in the company’s financial statement released on 15 August. “The results show that our brand and unique storytelling proposition continue to attract more consumers.”

Pandora, which still derives over 70% of its sales from charm bracelets, has been steadily expanding its portfolio into rings, earrings, and necklaces, strengthening its ambition to be recognised as a complete jewellery brand.