International News
Gold corrects 12% and Silver 15% in a week AUGMONT BULLION REPORT
- After setting a record high of $4398 last week, gold has dropped more than 12% to $3901, while silver has dropped around 15%. This seven-day correction has put an end to one of the longest bull runs in the history of the precious metal.
- With markets already factoring in another rate cut in December, traders are waiting for Fed Chair Jerome Powell to give them clues about the direction of monetary policy going forward.
- Investors, however, kept an eye on developments on a possible trade deal between the US and China that would further reduce demand for safe havens.
- A framework deal between Chinese President Xi Jinping and US President Donald Trump is anticipated to be finalised. The pact aims to loosen China’s limitations on rare earth shipments and stop more US tariff rises.
Technical Triggers
- First target achieved in Gold at $3960 (~Rs 119,000), prices could consolidate here and then fall to $3850 (~Rs 117,000).
- First target achieved in Silver at $46 (~Rs 140,000), prices could consolidate here and then fall to 45(~Rs 136,500).
Support and Resistance
| Category | Support Level | Resistance Level |
|---|---|---|
| International Gold | $3,900/oz | $4,035/oz |
| Indian Gold | ₹117,500 /10 gm | ₹120,200 /10 gm |
| International Silver | $45/oz | $49/oz |
| Indian Silver | ₹140,000 /kg | ₹150,000 /kg |
International News
Significant Upside Trajectory In The Metals Sector
Precious Metals Surge on Geopolitical Optimism as Gold and Silver Rally, While Crude Oil Faces Downward Pressure Amid Ongoing US–Iran Developments
Gold rates and silver rates in India will be driven by global trends, as the Indian market is closed. Trading in commodities, including gold and silver, will be closed for half a day on April 14 at MCX.
We are seeing a significant upside trajectory in the metals sector, driven by recent geopolitical synergies:
- Gold Asset Class: Spot prices have achieved a value-add recovery, scaling past the $4,760/oz threshold.
- Silver Asset Class: Currently experiencing a high-growth phase, surging approximately 2% to reach a target density near $77/oz.
- Market Bandwidth: While the MCX interface is currently undergoing a scheduled half-day service window on April 14,
- Energy Sector Headwinds
Conversely, the energy vertical is facing downward scalability issues:
- Crude Oil Index: Both US WTI and Brent Crude are failing to gain leverage, currently underperforming by 2% and hovering around the $98/bbl mark.
Geopolitical Synergy & Risk Mitigation
The recent bullish momentum in precious metals is a direct byproduct of strategic bilateral engagement between the US and Iran. Key stakeholders are currently deep-diving into negotiations to extend the current truce framework.
- US Perspective: President Trump has acknowledged a proactive outreach from Tehran following the implementation of a naval blockade.
- Iranian Alignment: President Pezeshkian has signaled readiness to move the needle on peace discussions, provided all deliverables remain within the compliance framework of international regulations.
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