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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).

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GJEPC, Latur Jewellers’ Association Host Seminar On Membership, IIJS BHARAT and MSME Schemes

The Seminar Attracted Over 300 Retail Jewellery Store Owners From Murud and Nearby Regions

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GJEPC, in collaboration with Saraf Suvarnakar Vyapari Sangh, Latur, organised a seminar in Murud on 24 May focusing on GJEPC membership, IIJS Bharat participation and MSME benefits.

Mithilesh Pandey, Senior Director, GJEPC, outlined the benefits of GJEPC membership, export opportunities through courier, post, hand-carry, e-commerce and online platforms, along with key government schemes and Maharashtra’s new trade policy. He also highlighted initiatives such as Buyer-Seller Meets, the Capacity Building Scheme and MSME support measures.

Naheed Sunke, Assistant Director, GJEPC, briefed participants on IIJS Bharat, its business opportunities and special discounted schemes available through the association.

The seminar attracted over 300 retail jewellery store owners from Murud and nearby regions including Chakur, Ausa, Nilanga, Ahmedpur, Udgir and Shirur Anantpal. A Parichay Card registration camp for artisans was also held during the programme.

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