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Gold consolidates in the $50 range before a decisive move: Augmont Bullion Report

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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

VBJ Announces Divine Diwali Offer Ahead Of Festive Season

VBJ Offers Festive Discounts Across Jewellery Categories, Old Gold Exchange Benefits and Bank Card Savings

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VBJ, Vummidi Bangaru Jewellers, India’s most trusted heirloom jewellery brand, has announced its Divine Diwali offer, running until 8th November 2026. The festive campaign brings a range of benefits across gold, diamond, platinum and precious stone jewellery, along with silverware, offering customers greater value as they prepare for the festive season.

Customers can avail 20% off on making charges and value addition (VA) on gold, diamond, platinum and precious stone jewellery and silverware. The campaign also includes 10% off on silver jewellery and Rs 125 extra per gram on exchange of old gold. In addition, customers can avail instant discounts of up to Rs 10,000 on purchases made using HDFC Bank credit cards. The offers are available across VBJ stores in Anna Salai and Anna Nagar, subject to applicable offer terms.

Commenting on the campaign, Amarendran Vummidi, Managing Partner, VBJ, said:

Amarendran vummidi

“Diwali is a significant period for jewellery purchases. Through our Divine Diwali offer, we aim to provide added value across our collections for our customers. The campaign reflects our continued effort to make the festive shopping experience rewarding while offering a wide selection across all jewellery categories.”

Jithendra Vummidi, Managing Partner, VBJ, added:

“Jewellery often carries meaning beyond the occasion for which it is purchased. It can become part of a family’s celebrations and traditions, passed down and worn across generations. At VBJ, our design approach draws on 126 years of experience, bringing together traditional influences, contemporary preferences and close attention to detail. As customers explore jewellery for Diwali, we remain focused on offering a range of designs and standards of workmanship that reflect our legacy while meeting the needs of today’s buyers.”

As a fifth-generation family-run brand, VBJ takes immense pride in its legacy as the creator of the historic Sengol (sceptre) – a sacred symbol of India’s democratic journey. Rediscovered after 72 years through meticulous research by the VBJ team, the Sengol was reinstated beside the Speaker’s chair in India’s new Parliament building, Sansad Bhavan, by Hon’ble Prime Minister Narendra Modi, marking VBJ’s enduring bond with India’s cultural and national heritage. Continuing a legacy of trust and tradition spanning over 126 years, VBJ is now set to unveil its largest jewellery showroom on Coimbatore’s 100 Feet Road.

The Divine Diwali campaign builds on VBJ’s commitment to bringing together its heritage, design expertise and a broad selection of jewellery and silverware for customers during one of the year’s most important festive shopping periods.

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