International News
Gold might have topped out at $3500 in the short-term :AUGMONT BULLION REPORT
- Gold prices fell more than 3% yesterday after reaching $3500, and the market appears to have peaked in the short term. Markets are still digesting President Donald Trump’s softer tone on the US-China trade war, as well as his turnaround on wanting to fire Federal Reserve Chair Jerome Powell.
- Treasury Secretary Scott Bessent said Wednesday that heavy tariffs between the United States and China must be decreased before trade talks can proceed, but he emphasized that President Trump will not unilaterally lower duties on Chinese imports. However, he noted that a full trade agreement could take two to three years to complete.
- Although recession worries have subsided, the global economy has already suffered significant harm, and rebuilding trust in the United States as a dependable trade partner will take time. In this context, gold is projected to be highly supported.
Technical Triggers
- In the short term, gold prices are expected to trade in the range of $3270 (~Rs 94000) to $3400(~Rs 96500). The long-term technical outlook will only turn negative if we begin printing lower lows and lower highs.
- Silver prices have given a breakout above $33(~Rs 97000), now the next target is $35 (~Rs 100,000).
International News
US Holiday Shopping Expected To Top $1 Trillion For The First Time: NRF
While Overall Buying Power Remains High, Ongoing Inflation and Rising Household Costs Mean Some Families Will Have To Watch Their Spending More Carefully Than Others
The National Retail Federation (NRF) predicts Americans will spend $1.01 trillion on holiday shopping in November and December. That is a 4.2% jump from $972 billion last year.
NRF said its forecast was based on economic modeling that incorporates consumer spending, employment, wages and ​historical retail sales data. It excludes automobile, gasoline and ​restaurant sales
​Extra Hiring: To handle the surge in shoppers, stores plan to hire 325,000 to 375,000 temporary holiday workers.
​Mixed Budget Impact: Higher gas prices and inflation could still strain some family budgets, affecting low- and high-income shoppers differently.
​Retailers expect a strong shopping season because people continue to make holiday spending a priority.
Store owners are ready to attract shoppers by offering competitive prices, deals, and choices for every budget.
While overall buying power remains high, ongoing inflation and rising household costs mean some families will have to watch their spending more carefully than others.
Belgian Consul General H. E. Mr. Pierre Stverlynck Graces BDB Annual Day Â
Limelight Lab Grown Diamonds Crosses 100 Stores Milestone This Dussehra: Targets 200 In 2027
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US Holiday Shopping Expected To Top $1 Trillion For The First Time: NRF
Belgian Consul General H. E. Mr. Pierre Stverlynck Graces BDB Annual Day Â
Limelight Lab Grown Diamonds Crosses 100 Stores Milestone This Dussehra: Targets 200 In 2027
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International News16 hours agoUS Holiday Shopping Expected To Top $1 Trillion For The First Time: NRF
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National News10 hours agoBelgian Consul General H. E. Mr. Pierre Stverlynck Graces BDB Annual Day Â
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National News11 hours agoLimelight Lab Grown Diamonds Crosses 100 Stores Milestone This Dussehra: Targets 200 In 2027
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New Premises12 hours agoJoyalukkas Opens Its 2nd Bengaluru Showroom in Jayanagar
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