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Gold continues its winning streak : Augmont Bullion report

Gold continues its winning streak

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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).

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National News

GJC Addresses HUID Data Exposure Issue With BIS, Corrective Measures Are Currently Being Initiated

BIS Care App That  Exposed The Name and Addresses Of Jewellers While Verifying HUID Details .

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The All India Gem and Jewellery Domestic Council (GJC) has successfully intervened following a technical anomaly on the BIS Care App that  exposed the name and addresses of jewellers while verifying HUID details .

Over the past few days, the BIS Care App was found to be displaying the names and addresses of individual jewellers during routine Hallmark Unique Identification (HUID) verifications. Recognizing the privacy implications for its members, GJC immediately escalated the matter to the highest appropriate levels within the Bureau of Indian Standards (BIS).

Upon receiving GJC’s representations, BIS officials acknowledged the discrepancy. The Bureau clarified that such operational details are strictly intended to be visible only for corporate jewellers who have voluntarily opted into the ‘Transfer HUID’ module under the current BIS framework. The data exposure was not intended for general registered jewellers.

GJC has been assured that BIS has escalated the issue internally. Corrective measures are currently being initiated on a priority basis, and the technical glitch is expected to be fully resolved at the earliest.

GJC remains fiercely committed to safeguarding the interests of the domestic jewellery trade the Council stated, reaffirming its dedication to ensuring that members’ operational concerns are promptly and effectively represented before regulatory authorities.

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