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Gold and Silver retreat from highs on profit booking AUGMONT BULLION REPORT

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  • A record climb towards $3640 (~Rs 107,200) has caused gold to see some profitbooking, halting its longest winning run since March but keeping it close to record highs due to rising demand for safe haven assets and anticipation of US monetary easing.
  • A potential Supreme Court battle was set in motion on Wednesday when the Trump administration challenged a court decision that invalidated the majority of his international tariffs. Gold and silver continued to be supported by these additional uncertainties, which also included anxieties about debt and the independence of the Federal Reserve.
  • In the meantime, July statistics revealed a greater-than-anticipated decline in US job postings, indicating a worse labour market and supporting speculation of a possible rate decrease in September. For more hints on economic momentum and Fed policy, investors are now waiting for Friday’s nonfarm payrolls report, ADP employment data, and US unemployment claims.

Technical Triggers 

  • Gold and Silver prices have achieved all short-term targets; prices are expected to continue their profit-booking and consolidation after a sharp run-up.

    Support and Resistance

    CommoditySupport LevelResistance Level
    International Gold$3500/oz$3650/oz
    Indian Gold₹103,500 / 10 gm₹107,500 / 10 gm
    International Silver$40.40/oz$43/oz
    Indian Silver₹123,000 / kg₹130,000 / kg

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    International News

    The Jewelry Symposium launches free online archive of technical papers

    The Jewelry Symposium (TJS), the jewellery industry’s annual international event dedicated specifically to the advancement of jewellery manufacturing technology (previously known as Santa Fe Symposium), announced that it is newly offering a free online archive of previously presented TJS technical papers.

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    TJS board members agreed to make the annals of information presented by its speakers more widely available to anyone seeking to learn more or to advance their fine jewellery careers and/or businesses.

    People have been asking for free access to the papers since our first TJS event in 2023. Many of our attendees and speakers were accustomed to the former Santa Fe Symposium’s archive which contains 30+ years of papers – it is still a rich and hugely valuable resource. At TJS, we are proud to continue this tradition, taking another bold step towards providing the industry with what it needs to continue to advance and grow.

    Coinciding with the opening of registration for the 2026 TJS event, the archive of papers will go live on Monday 3rd November. Papers from the 2023 and 2024 editions of the symposium will then be available for free access. Going forward, the most recent year’s papers will become available after the following year’s Symposium.

    Those attending TJS in person, however, will not have to wait a year for the content. All attendees will receive immediate access to that year’s content on the final day, as well as a printed copy of the limited-edition book.

    The fourth annual Jewelry Symposium will take place 16-19 May 2026 in Troy, Michigan.

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