International News
Gold climbs $100 from its intraday low:AUGMONT BULLION REPORT
- Gold prices bounced up about $100 (~Rs 1500) from their intraday lows as investors appeared to be shifting back to safe-haven assets due to a slowdown in the pace of discussions between Russia and Ukraine and less-than-expected US data.
- As consumers reduced their spending on vehicles, sporting equipment, and other imported goods due to worries about rising prices brought on by tariffs, US retail sales barely increased in April.
- Concurrently, the PPI prices unexpectedly dropped due to a 1.6% decline in wholesalers’ and retailers’ margins, suggesting that businesses may be mitigating some of the effects of higher tariffs.
- Moreover, Trump claimed that no progress on Ukraine will happen unless he meets with Putin, while the Ukrainian president argued that Moscow’s low-ranking diplomats dispatched to Istanbul for peace talks indicate a lack of genuine determination.
Technical Triggers
- As Gold prices have broken the Double-top neckline support of $3200, more downside is expected up to $3000-50 (~Rs 87000 – 88000) in the short term.
- Silver prices are expected to get momentum now, as the tariff war has de-escalated. We are likely to see prices touching $34(~Rs 99000) and $35(~Rs 102,0000) soon in the coming days.
| Metal | Region | Support Level | Resistance Level |
|---|---|---|---|
| Gold | International | $3050/oz | $3260/oz |
| Gold | India | ₹92,000/10 gm | ₹94,000/10 gm |
| Silver | International | $31.5/oz | $33.5/oz |
| Silver | India | ₹93,500/kg | ₹97,500/kg |
DiamondBuzz
Diamond Slump forces Debswana to diversify into copper, platinum and solar
Diamond-centric mining models is giving way to broader resource portfolios
Debswana Diamond Company, the 50–50 joint venture between the Botswana government and De Beers, is moving to diversify into copper, platinum and renewable energy as the prolonged downturn in natural diamond demand pressures earnings and forces the industry to rethink its growth strategy.
The company’s board has approved plans to invest in a portfolio of non-diamond projects after revenue fell 46% in 2024, the latest available financial year, highlighting the scale of the downturn in the global diamond market.
The move signals a strategic shift toward commodities with stronger long-term demand fundamentals, particularly copper, which is central to global electrification and energy-transition infrastructure.
Debswana’s diversification reflects a broader industry pivot as diamond producers confront weak consumer demand, rising competition from lab-grown stones and elevated inventories across the supply chain.
The shift is also visible among smaller exploration companies. Botswana Diamonds recently rebranded as Botswana Minerals, signalling its own strategic focus on copper exploration rather than diamonds.
Together, these moves underscore a growing consensus across the sector: the era of diamond-centric mining models is giving way to broader resource portfolios anchored in energy-transition metals.
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