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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

Wear The Joy Of Rain With Daily-Delight Jewellery Inspired By Monsoon From Kama Jewelry

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‘With the arrival of the monsoon season, Kama Jewelry brings in jewellery pieces that capture the beauty and elegance of the rainy season. Lightweight and easy to wear, the pieces in this collection capture sophistication from the rain through sleek diamond jewellery and modern design. The jewellery is created from 9k to 18k gold and includes pendants, rings, and necklaces.

Known for their expertise in both craftsmanship and innovation, Kama Jewelry has been designing and creating jewellery for more than 30 years that seamlessly crosses generations, seasons, and styles.’

Simran Shah, Vice President – Sales, Kama jewelry, said:

“Based on 9 to 18k gold, these daily delight jewellery pieces can be paired with casual ethnic outfits, the standard workwear, or a weekend outfit that offers a little sparkle without sacrificing aesthetics. The elegant pendants, delicate ring, and necklaces add a subtle glitter to the overall charm of this season.”

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