International News
Gold clinches $4000 finally AUGMONT BULLION REPORT
- Gold active futures reached a new high, hitting $4000 (~ Rs 120,900), as financial markets became increasingly unsettled due to the US government shutdown and a French political crisis. The political upheavals in Japan and France are escalating fiscal worries and fueling the gold rally.
- After unsuccessful attempts to come to an agreement with political parties about budget spending, which prevented efforts to control the biggest fiscal deficit in the euro area, Sebastien Lecornu resigned as the prime minister of France. The financial markets have also been shaken by Sanae Takaichi’s almost certain promotion to the position of prime minister of Japan.
- This week, the US government shutdown continued, and the White House threatened to lay off a large number of federal employees. Additionally, this has prevented investors from accessing crucial information required to evaluate the state of the US economy, which further muddies the Fed’s decision-making process. The Fed’s latest interest rate cut and the expectation of more have helped, and central banks and gold-backed exchange-traded funds have been eager buyers.
Technical Triggers
- Gold has achieved the target of $4000 (~Rs 120,900) today. This rally can show more upward spikes, but one needs to be very cautious at this level. We can also see sharp sell-offs, as the psychological target is achieved. If Gold falls below $3850 (~Rs 117,000), we can say, top has been made, and a correction will follow.
Support and Resistance
| Metal | Market | Support Level | Resistance Level |
|---|---|---|---|
| Gold | International | $3850/oz | $4000/oz |
| Indian | ₹117,000 / 10 gm | ₹121,000 / 10 gm | |
| Silver | International | $46.50/oz | $50/oz |
| Indian | ₹142,000 / kg | ₹150,000 / kg |
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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