International News
Gold and Silver set for best annual gain since 1979 AUGMONT BULLION REPORT
- In 2025, gold has risen by 65% and silver by 150%, indicating a year of tremendous gains and positioning the precious metal for its best yearly performance in more than four decades.
- Persistent geopolitical concerns, US interest rate decreases, sustained central bank purchases, and increased holdings in gold-backed ETFs all boosted gold prices. Silver achieved several milestones in 2025, thanks to its status as a vital US commodity, supply constraints, low stocks, and increased industrial and investment demand.
- Meanwhile, the Federal Reserve’s December meeting minutes, released on Tuesday, showed that most officials believe more rate cuts are justified if inflation continues to decline, while they disagreed on the timing and extent of prospective reductions.
- On the geopolitical front, uncertainties around a Russia-Ukraine peace accord, rising hostilities in the Middle East, and tensions between the United States and Venezuela are driving up demand for the safe-haven commodity.
Technical Triggers
- Gold prices are expected to consolidate in the range of $4320 (~Rs 134,000) and $4420 (~Rs 137,000) after this sharp rally and sell off this week.
- Silver prices are expected to consolidate between $70 (~Rs 223,000) and $78 (~Rs 250,000), after the sharp rally and sell off this week.
Support and Resistance
| Metal | Market | Support Level | Resistance Level |
|---|---|---|---|
| Gold | International | $4300 / oz | $4420 / oz |
| Gold | India | ₹134,000 / 10 gm | ₹137,000 / 10 gm |
| Silver | International | $70 / oz | $78 / oz |
| Silver | India | ₹223,000 / kg | ₹250,000 / kg |
Source: AUGMONT BULLION REPORT
DiamondBuzz
Rio Tinto’s Diamond Division Posts $79 Million EBITDA Loss in 2025
Higher output from Canada’s Diavik Diamond Mine offsets revenue decline, but end-of-life pressures continue to weigh on performance.
Rio Tinto reported a challenging year for its diamond business in 2025, posting an underlying EBITDA loss of $79 million despite improved revenues. While the loss narrowed compared to the $115 million deficit recorded in 2024, the division remained under pressure amid a global diamond market slowdown and the nearing closure of its last active mine.
Annual revenue rose 19% to $332 million, supported by stronger production at the Diavik mine in Canada, Rio Tinto’s only remaining diamond operation. Output climbed 61% to 4.4 million carats, driven by the ramp-up of mining activities in the underground section of the A21 deposit, which began scaling up in late 2024.
However, the A21 underground ore body is expected to be depleted by the end of the first quarter of 2026, marking the end of Diavik’s operational life. The company plans to spend approximately $1 billion this year on closure activities related to Diavik, as well as rehabilitation work at the former Argyle Diamond Mine, which ceased production in 2020, and other non-diamond projects.
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