National News
Gold consolidates in the $50 range before a decisive move: Augmont Bullion Report
Gold prices are consolidating in a range between $2885 and $2935, spurred by a weaker US dollar and safe-haven flows as fears about the US economy grow amid growing trade tensions.
Concerns over a probable economic slowdown were heightened after President Donald Trump stated that the US economy was in a moment of transition while refusing to rule out the chance that his policies would create a recession.
This comes after the United States delayed imposing 25% tariffs on several Canadian and Mexican imports for a month, while Canada maintained its first retaliatory measures. China also levied further duties on some American agriculture products in reaction to Trump’s latest tariff increases on Chinese imports. Meanwhile, Fed Chair Jerome Powell acknowledged increased economic uncertainties but expressed no need to decrease interest rates.
Investors are now looking forward to US inflation statistics later this week, which may impact the Fed’s monetary policy position.
Technical Triggers
Gold prices are consolidating in a range between $2885(~Rs 85400) and $2935(~Rs 86200), prices need to break this range for decisive move towards upside momentum of $2975 (~Rs 87000).
Silver May Futures is gaining strength and if sustains above $330(~Rs 96700), the next target is $340(~Rs 100,000), and once it sustains above that, it can head higher towards $350(~Rs 103,000).
National News
Kalyan Jewellers Reports Strong Performance For Q2 FY2027
Consolidated Revenue Growth In Excess Of 26% Compared To The Same Period.Revenue For India Operations Grew By Approximately 27% Year-Over-Year In Q2 FY2027. This Was Driven By Robust Ground Momentum and A Same-Store-Sales-Growth (SSSG) Of Approximately 20%,
Kalyan Jewellers reported a strong performance for Q2 FY2027, recording consolidated revenue growth in excess of 26% compared to the same period in the previous financial year.
India Operations & Brand Expansion
- Revenue & Sales Growth: Revenue for India operations grew by approximately 27% year-over-year in Q2 FY2027. This was driven by robust ground momentum and a same-store-sales-growth (SSSG) of approximately 20%, despite a high base from the previous year when all nine days of Navratri fell within Q2.
- Regional Launch: In August, the company launched its first regional brand, Akshaya Thanga Maligai (ATM), in Chennai. Following strong initial reception and revenue traction in its first 40+ days, plans are set to launch four additional franchised showrooms under this brand during FY2027—two in Q3 and two in Q4.
- Showroom Expansion: During the quarter, the company opened 12 Kalyan showrooms in India (net addition of 11), 9 Candere showrooms in India, and 1 Kalyan showroom in the UK.
International Performance & Lifestyle Segment
- International Operations: Recorded an 18% revenue growth compared to Q2 FY2026, with the Middle East delivering approximately 12% revenue growth driven entirely by SSSG. International markets accounted for roughly 11% of consolidated revenue during the quarter.
- Candere: The lifestyle jewellery brand posted strong revenue growth of approximately 64% year-over-year.
Asset Divestment & Debt Reduction
- The company completed the sale of one non-core real estate asset for approximately INR 86 crore, with the sale of a second parcel (valued at ~INR 16 crore) expected to close in the ongoing quarter.
- Non-GML debt was brought down to zero during the quarter.
Network Presence & Outlook
- As of September 30, 2026, the company’s global showroom network expanded to 546 locations, comprising 365 Kalyan India, 38 Kalyan Middle East, 2 Kalyan USA, 2 Kalyan UK, and 138 Candere stores.
- Management expressed optimism for the upcoming festive and wedding season, supported by new collections, marketing campaigns, and planned showroom rollouts.
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