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
GJEPC Promotes Key Trade Events At IGI Dubai Event
The Dubai Event Created Opportunities For Participating Indian Exporters To Connect Directly With Potential Buyers.
GJEPC stepped up its international buyer outreach for IIJS Bharat – Signature 2027, IGJS Jaipur and IJEX at an industry event organised by the International Gemological Institute (IGI) in Dubai.
Held at the Almas Tower Ballroom in Jumeirah Lake Towers, the IGI Ornamental QC Seminar brought together an audience of more than 70 jewellers, with leading retailers including Jawhara, Joyalukkas, Tajvi, Vinsmera, La Marquise, Bhima and Cara among the expected participants.
Ashish Sakhardande, Head – IJEX, GJEPC, represented the Council and delivered a presentation on its upcoming exhibitions and initiatives, placing particular emphasis on IIJS Bharat – Signature 2027, IGJS Jaipur and IJEX, highlighting its new features and inviting UAE buyers to register for the Mumbai and Jaipur shows.
The UAE remains an important market for Indian jewellery exporters, making direct engagement with retailers and jewellery companies a key part of the buyer mobilisation strategy.
The Dubai event created opportunities for participating Indian exporters to connect directly with potential buyers. Business meetings and networking interactions were facilitated with several UAE-based companies, allowing exporters participating through IJEX to develop new commercial contacts.
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