International News
Gold crosses $3300 on rising geopolitical tensions AUGMONT BULLION REPORT
Gold reached almost $3300, close to a two-week high and continuing its more than 2% advance, helped by escalating geopolitical threats and the US dollar’s ongoing weakening.
Last Friday, Moody’s reduced the US credit rating from AAA to AA1, which lowered risk perception and increased demand for gold.
According to reports, Israel is preparing to attack Iranian nuclear sites, which might lead to retaliation from Iran and deepen the Middle East crisis.
Geopolitical fears were heightened when President Trump announced that Russia and Ukraine would start peace negotiations right away, but he seemed to be hinting that he would withdraw from mediating the three-year conflict.
Gold Market
| Price Level (USD) | Approx. INR Equivalent | Market Outlook | Technical Indicator |
|---|---|---|---|
| $3265 | ₹94,000 | Current resistance level | Resistance |
| $3200 | ₹92,000 | Key support (neckline of Double Top); if broken, bearish signal | Neckline Support (Double Top) |
| $3000 | ₹86,000 | Target if $3200 is broken and held below | Downside Target |
Silver prices are expected to continue trading in the range of $32(~Rs 94000) and $34(~Rs 98000) as there is no trigger for silver markets.
International News
Titan Forms New UAE Subsidiary to Drive Damas Acquisition and Consolidate GCC Jewellery Business
Titan Establishes Signature Jewellery Holding in Dubai to Finalize Damas Deal
Titan Company Ltd. is moving forward with its expansion in the Gulf Cooperation Council (GCC) region by setting up a new step-down subsidiary, Signature Jewellery Holding Limited (SJHL), based in the Dubai International Financial Centre (DIFC), UAE.
The formation of SJHL marks a key step in consolidating Titan’s regional jewellery interests, specifically related to its Damas acquisition.
The new DIFC entity will serve as the holding company for Titan’s entire jewellery business across the GCC countries. It falls under Titan Holdings International FZCO, a wholly-owned subsidiary of Titan.
Titan Holdings International FZCO previously agreed to acquire a 67% stake in Damas LLC, which houses the Damas jewellery business in the GCC. The remaining 33% is slated for acquisition after December 2029, subject to agreed terms.
The company anticipates that the proposed transaction will be completed by January 31, 2026. This strategic move solidifies Titan’s commitment to the Middle East market and centralizes the management of its newly acquired Damas operations.
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