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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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National News

Kirit Bhansali Has Been Appointed As The Nominee Director On The IAGES Board, Effective 11 May 2026

Kirit Bhansali Joins IAGES Board, Bringing Extensive Leadership Experience To Strengthen The Sector’s Growth Vision

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Kirit A. Bhansali, Chairman, GJPEC is a well-known personality in the Indian diamond and jewellery industry. He is a partner in Smital Gems, a leading diamond manufacturing company based in Mumbai. With his extensive experience in the field, he has played a significant role in promoting and developing the Indian gem and jewellery industry. He is a Committee Member of the Bharat Diamond Bourse (BDB).

In the past, he has also served as the Chairman of the Indian Institute of Gems and Jewellery (IIGJ). Apart from his business activities, Bhansali is actively involved in various socio-political and educational initiatives. Through his leadership and vision, Bhansali has contributed significantly to the growth and development of the Indian diamond and jewellery industry.

His vast industry experience, deep understanding of the sector, and visionary leadership will further strengthen and drive the mission and objectives of IAGES forward. IAGES warmly welcomes Bhansali on its Board of Directors and looks forward to his valuable guidance and contribution towards the growth of the association and the industry at large.

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