International News
Gold continues its northward journey, supported by safe-haven appeal AUGMONT BULLION REPORT
- Amid worries about the independence of the Federal Reserve following President Trump’s threats to fire Fed Governor Lisa Cook, gold prices remained close to their two-week high due to their safety appeal.
- At the Fed’s policy meeting next month, markets are expecting a 25 basis point rate cut, which is more than 88% likely, according to the CME FedWatch Tool.
- Markets seem to be confident that a new wave of U.S. tariffs might weaken global strength, making trade policy another crucial factor for gold. An additional factor supporting gold’s safe-haven bid could be ongoing geopolitical danger, such as Ukraine’s increased attacks on Russian energy infrastructure.
Technical Triggers
- Gold Oct Futures are expected to continue their upside momentum towards $3485 (~Rs 102,500), if it sustains above $3445 (~Rs 101,500).
- As Silver Sep Futures has broken its range and sustained above $38.80 (~Rs 116,000), upside momentum can swing prices towards a new high of $40 (~Rs 120,000) this week.
| Commodity | Market | Support Level | Resistance Level |
|---|---|---|---|
| Gold | International | $3355/oz | $3485/oz |
| Indian | ₹98,500/10 gm | ₹100,500/10 gm | |
| Silver | International | $37/oz | $40/oz |
| Indian | ₹110,500/kg | ₹120,000/kg |
DiamondBuzz
Diamond Slump forces Debswana to diversify into copper, platinum and solar
Diamond-centric mining models is giving way to broader resource portfolios
Debswana Diamond Company, the 50–50 joint venture between the Botswana government and De Beers, is moving to diversify into copper, platinum and renewable energy as the prolonged downturn in natural diamond demand pressures earnings and forces the industry to rethink its growth strategy.
The company’s board has approved plans to invest in a portfolio of non-diamond projects after revenue fell 46% in 2024, the latest available financial year, highlighting the scale of the downturn in the global diamond market.
The move signals a strategic shift toward commodities with stronger long-term demand fundamentals, particularly copper, which is central to global electrification and energy-transition infrastructure.
Debswana’s diversification reflects a broader industry pivot as diamond producers confront weak consumer demand, rising competition from lab-grown stones and elevated inventories across the supply chain.
The shift is also visible among smaller exploration companies. Botswana Diamonds recently rebranded as Botswana Minerals, signalling its own strategic focus on copper exploration rather than diamonds.
Together, these moves underscore a growing consensus across the sector: the era of diamond-centric mining models is giving way to broader resource portfolios anchored in energy-transition metals.
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