International News
Gold consolidates in the $3270 to $3380 range :AUGMONT BULLION REPORT
Gold prices are fluctuating between $3270 (~Rs 94300) and $3380 (~Rs 96200), indicating contradictory signals from US-China trade talks.
U.S. President Donald Trump stated that trade talks with China are now occurring, contradicting Chinese allegations that no discussions have taken place to resolve the ongoing trade war.
On Friday, China exempted several US products from its 125% tariffs, indicating a potential resolution to the trade conflict between the two countries.
Long-term support comes from risk aversion demand, while tariffs and geopolitical turmoil will keep gold prices stable.
Gold buyers seize control as risk-off sentiment spreads through financial markets. US dollar and Treasury yields fall as speculators anticipate further Fed rate cuts. Traders are bracing for a critical US data week, with GDP, Core PCE, and NFP all in focus.
Technical Triggers
The creation of a “Shooting Star” candlestick pattern in the weekly charts, indicates a probable uptrend reversal, which was an intriguing technical component of gold’s price movement last week. If prices sustain below $3300 (~Rs 95000) this week, they may fall 50% to $3240 (~Rs 93000) and 61.8% to $3175 (~Rs 91500).
Support and Resistance:
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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