International News
Gold approaching $5000 and Silver towards $100 – AUGMONT BULLION REPORT
Bullion hits historic peaks as geopolitical uncertainty and expectations of a dovish Fed push Gold toward $5,000 and Silver near the $100 milestone.
Precisions metals reached historic heights this week as gold neared the psychological $5,000 barrier, touching $4,970 (INR. 1,59,200), while silver surged to $99.2 (INR. 3,40,000). This rally, the strongest weekly performance for the duo since March 2020, is being fueled by a complex cocktail of geopolitical maneuvers and shifting economic policies. Market sentiment was jolted by U.S. President Donald Trump’s claim of securing permanent access to Greenland via a NATO deal—a move that remains shrouded in ambiguity as Denmark maintains its sovereignty—and his sudden cancellation of proposed European tariffs.
| Asset | Recent High (USD) | Indian Price (Approx.) | Drivers |
| Gold | $4,970 | ₹1,59,200 | Safe-haven demand, Geopolitics |
| Silver | $99.2 | ₹3,40,000 | Short squeeze, China export bans |
The upward momentum is further bolstered by growing expectations of monetary easing, with investors betting on a dovish appointment for the next Federal Reserve Chair. Silver, in particular, has seen its gains amplified by a historic short squeeze and heightened retail participation, compounded by supply anxieties following China’s tightening of export controls. Together, these factors have solidified the safe-haven appeal of bullion in an increasingly volatile global landscape.
International News
Indian Consulate In New York Hosts India-USA Virtual Jewellery Exhibition; Facilitated By GJEPC
The Exhibition Brought Together 35 Indian Companies, Many Of Them Micro, Small and Medium Enterprises (MSMEs), Offering US Buyers An Opportunity To Explore Indian Jewellery Collections and Establish Direct Business Connections.
The Consulate General of India in New York, in collaboration with the Gem & Jewellery Export Promotion Council (GJEPC), organised the India-USA Virtual Exhibition on Gems & Jewellery on 23 October 2026, connecting Indian exporters with American buyers through a digital platform.
The inaugural ceremony featured welcome remarks by Ambassador HE . Binaya S. Pradhan, Consul General of India in New York, an inaugural address by Kirit Bhansali, Chairman, GJEPC, and closing remarks by Rajlakshmi Kadam, Consul (Trade), Consulate General of India, New York.
The exhibition brought together 35 Indian companies, many of them micro, small and medium enterprises (MSMEs), offering US buyers an opportunity to explore Indian jewellery collections and establish direct business connections. The event was designed to help exporters reach new customers and develop partnerships in one of India’s most important markets.
Addressing participants, Kirit Bhansali, Chairman, GJEPC, highlighted the importance of the US market, which accounted for around 30% of India’s gem and jewellery exports, worth nearly US$10 billion, in FY2024-25. He noted that tariff uncertainty had affected trade significantly, with India’s gem and jewellery exports to the US falling by more than 44% between April and December 2025.
However, trade has begun to recover. Between April and September 2026, India’s gem and jewellery exports to the US grew nearly 6% year-on-year to almost US$3 billion, compared with US$2.77 billion in the corresponding period of 2025.
Kirit Bhansali also referred to progress on the proposed India-US Bilateral Trade Agreement, expressing hope that it would provide greater clarity and predictability for exporters and buyers once its terms are finalised.
With the US holiday season approaching, followed by Valentine’s Day and retailers’ sourcing plans for 2027, he urged American buyers to explore India’s manufacturing capabilities across diamonds, coloured gemstones and gold jewellery. He also encouraged buyers to engage directly with participating MSMEs, highlighting their skills, flexibility and ability to meet varied sourcing requirements.
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