International News
Gold plummeted to $3150, poised to fall $100 more: AUGMONT BULLION REPORT
- As global trade tensions eased, demand for safe-haven assets declined, causing gold to drop 2% and hit a low of over five weeks.
- President Trump cited ongoing talks with South Korea, Japan, and India, while the US and China agreed to drastically reduce tariffs and launched a 90-day truce to conclude a larger deal.
- As tensions between India and Pakistan stabilised and hopes that Trump would waive sanctions on Syria during his Middle East visit increased, geopolitical risks also decreased.
- In the meantime, lower-than-expected US inflation figures bolstered anticipations of potential rate cuts by the Federal Reserve, which are generally favourable for non-yielding assets.
- For more hints about the monetary policy outlook, traders are now waiting for US PPI and retail sales data.
Technical Triggers
| Metal | Region | Support Level | Resistance Level |
|---|---|---|---|
| Gold | International | $3050/oz | $3260/oz |
| Indian | ₹92,000 / 10 gm | ₹94,000 / 10 gm | |
| Silver | International | $31.5/oz | $33.5/oz |
| Indian | ₹93,500 / kg | ₹97,500 / kg |
International News
GJEPC Steps Up UK Outreach Ahead Of IIJS Bharat Premiere 2026
GJEPC Visited Major Jewellery Trading Hubs, Meeting 20+ Jewellery Retailers and Wholesalers Through In-Person Interactions
GJEPC intensified its promotional efforts in the United Kingdom ahead of IIJS Bharat Premiere 2026 through a week-long outreach programme in London that combined direct retailer engagement with the 2nd India-UK Jewellery Buyer-Seller Meet (BSM). The initiative was held from 6 to 10 July 2026 and aimed to attract more UK buyers while strengthening trade ties following the India-UK Free Trade Agreement.
As part of the campaign, Gaurang Vora, Manager, GJEPC, visited major jewellery trading hubs including Green Street, Southall and Wembley, meeting 20+ jewellery retailers and wholesalers through in-person interactions. He promoted IIJS Bharat Premiere 2026, distributed event information and registration details, and gathered market feedback on sourcing requirements and buying trends.
Based on feedback from UK buyers, the 2nd India-UK Jewellery Buyer-Seller Meet generated strong demand for 22-karat gold jewellery, diamond jewellery, lightweight designs, lab-grown diamond jewellery and silver jewellery. Buyers also expressed interest in sourcing from reliable, export-oriented Indian manufacturers and suggested that suppliers offer smaller minimum order quantities to better meet the needs of independent retailers.
The campaign generated new buyer enquiries, strengthened relationships with existing trade partners and provided GJEPC with market intelligence on consumer preferences and sourcing trends. The Council plans to continue engaging with buyers, assist with IIJS Bharat Premiere registrations and facilitate introductions between overseas buyers and Indian manufacturers.
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