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Gold and Silver retreat from highs on margin increase AUGMONT BULLION REPORT

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Gold and silver experienced the biggest volatility, plunging more than $200 and $12 in a single day from their highs, respectively. The severity of silver’s slide was exacerbated by the CME’s decision to boost overnight margin requirements to $25,000—the second rise this month. This modification most likely caused forced liquidations among leveraged traders, resulting in position closures independent of individual market outlooks.

Following a meeting between the presidents of the United States and Ukraine at Mar-a-Lago, there was some tentative hope about prospective peace negotiations. However, this cautious optimism was dashed when Russian President Vladimir Putin notified President Donald Trump on Monday that Moscow would reconsider its negotiation position following what the Kremlin described as a Ukrainian drone strike on a Russian presidential palace. This conflicting geopolitical signal added more anxiety to an already tumultuous trading session.

Separately, Trump threatened of future strikes against Iran if nuclear development proceeds, while also revealing that the US has hit a drug-related facility in Venezuela.

Technical Triggers        

  • Gold prices are expected to consolidate in the range of$4300 (~Rs 134,000) and $4400 (~Rs 136,500) after this sharp sell off.
  • Silver prices are expected to consolidate between $70 (~Rs 223,000) and $75 (~Rs 237,000), after the sharp sell off.

Support and Resistance

MetalMarketSupport LevelResistance Level
GoldInternational$4300 / oz$4400 / oz
GoldIndia₹134,000 / 10 gm₹136,500 / 10 gm
SilverInternational$70 / oz$75 / oz
SilverIndia₹223,000 / kg₹237,000 / kg
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International News

India-UAE Jewellery Dialogue Draws 200+ Stakeholders, Reinforces Trade Confidence

GJEPC and UAE Leadership Reaffirm Commitment To Market Resilience and “Business Beyond Borders.”

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  • The India-UAE Gems & Jewellery Dialogue -Boosting Confidence, held on 2 April 2026 at Taj Business Bay, Dubai, saw strong industry participation, underscoring continued optimism in bilateral trade. The event was organised under the patronage of the Embassy of India in the UAE, the Consulate General of India in Dubai, and the GJEPC.

The high-level gathering brought together over 200 stakeholders across the jewellery value chain, including manufacturers, retailers, wholesalers, and policymakers from both countries. Among the dignitaries present were H.E Mohammed Ali Rashed Lootah, President & CEO Dubai Chamber, H.E. Ahmed Al Khaja, CEO Dept of Economy & Tourism, H.E. Jumal Al Kait, Asst Undersecretary Ministry of Foreign Trade, Tawhid Abdullah, Chairman Dubai Jewellery Group. Speakers highlighted the resilience of the UAE’s jewellery ecosystem and pointed to expanding opportunities for integration with Indian manufacturers.

Delivering the keynote, H.E. Dr Deepak Mittal, the Ambassador of India to the UAE, reaffirmed the Government of India’s continued support for the sector and emphasised the UAE’s strategic importance as a partner under the India-UAE Comprehensive Economic Partnership Agreement (CEPA).

Hon’ble Consul General Satish Kumar Sivan stressed the need for unity and confidence within the trade amid shifting global dynamics. In his welcome address, Mr Sabyasachi Ray, Executive Director, GJEPC, outlined GJEPC’s focus on strengthening exports and deepening engagement across the GCC through collaborative initiatives.

Key discussions reaffirmed the strength of India-UAE trade ties in gems and jewellery, sustained confidence in the UAE market despite global uncertainties, and the need for closer coordination between government, trade bodies, and industry. Participants also recognised the India Jewellery Exposition Centre (IJEX) as a critical platform enabling market access in the region.

The dialogue concluded with a shared commitment to deepen cooperation, strengthen trust, and drive growth in bilateral jewellery trade, with GJEPC reiterating its focus on facilitating “Business Beyond Borders.”

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