National News
Gold continues its winning streak : Augmont Bullion report
Gold continues its winning streak
Gold maintains its winning streak above $3025 (~Rs 88500) as Trump’s tariffs are projected to exacerbate inflation and economic turmoil. Trump said he would hold Iran accountable for any strikes carried out by the Houthi group it supports in Yemen, as his administration escalated the largest US military operation in the Middle East since Trump came to the White House.
Central banks’ accumulation of gold reserves, inflation concerns, and rising demand after the pandemic have contributed to the surge in gold prices.
The Fed is expected to maintain its benchmark interest rate in the 4.25%-4.50% range after its two-day policy meeting on Wednesday.
Technical Triggers
Gold Apr Futures after achieving the $3000 (~Rs 88000) milestone, now is expected to extend this run up towards $3035 (~Rs 88800) and $3080 (~Rs 90000) in the coming weeks. After that, we can see some retracement and profit-booking, which can extend down to $2800 and $2700 maximum.While Silver May Futures has also climbed above $34(~Rs 100,000) on strong demand, the next resistance for the prices is $35(~Rs 103,000).
Gold and silver rates in India opened higher on MCX, rebounding from recent losses amid COMEX recovery signals. Spot gold and silver gained after two days of declines, with MCX gold up around 1% near Rs 1.53 lakh per 10 grams and silver up 2% above Rs 2.33 lakh per kg.
MCX gold hovered at approximately Rs 1,53,000 per 10 grams early morning, reflecting a 1% rise. Silver traded above Rs 2,33,000 per kg with nearly 2% gains, touching intraday highs around Rs 2,33,673 per kg.
COMEX gold showed technical recovery signs, ending prior weeks up 1.43% at around $5,022/oz, while silver rose 3.1% to $77.58/oz. A firmer USD and Fed rate pause signals tempered gains, but safe-haven demand persists.
-
JB Insights19 hours agoLayered Gold, Done Right: How Modern Brides Are Redefining Wedding Jewellery
-
JB Insights17 hours agoSilver Goes Stylish: How Silvostyle Is Winning Gen Z and Millennials
-
JB Insights18 hours agoFine jewellery should be transparent, accessible, and designed for everyday joy
-
National News2 hours agoIndia’s CAD surges on gold and silver imports
JewelBuzz is Asia’s First Digital Jewellery Media & India’s No.1 B2B Jewellery Magazine, published by AM Media House. Since 2016, we’ve been the trusted source for jewellery news, market trends, trade insights, exhibitions, podcasts, and brand stories, connecting jewellers, retailers, and industry professionals worldwide.