International News
Gold price struggles to capitalize on intraday gains amid receding Fed rate cut bets
Concerns about Trump’s trade tariff and a modest USD weakness underpin the XAU/USD pair.
Gold price (XAU/USD) builds on the previous day’s bounce from the $2,864 region touched in reaction to hotter US consumer inflation figures and gains some follow-through positive traction for the second straight day on Thursday. A fresh leg down in the US Treasury bond yields exerts downward pressure on the US Dollar (USD), which, in turn, is seen benefiting the USD-denominated commodity. Apart from this, worries about US President Donald Trump’s tariffs and a global trade war underpin the safe-haven bullion.
Meanwhile, the hotter US consumer inflation figures released on Wednesday reaffirmed market expectations that the Federal Reserve (Fed) will stick to its hawkish stance and hold interest rates steady for an extended period. This could act as a tailwind for the US bond yields and the Greenback, which, in turn, acts as a headwind for the non-yielding Gold price amid still-overbought conditions on the daily chart. Traders now look forward to the release of the US Producer Price Index (PPI) for some meaningful impetus.
International News
Gemfields’ Higher-Quality Emerald Auction Fetches $26.8 Million
Strong Demand Continuing For Top-Tier Stones Despite Broader Market Caution Driven By Geopolitical Tensions and Macroeconomic Uncertainty.
Gemfields reported revenues of $26.8 million from its latest higher-quality rough emerald auction, with strong demand continuing for top-tier stones despite broader market caution driven by geopolitical tensions and macroeconomic uncertainty.
The auction, held from 4 to 21 May 2026, saw 36 of 37 lots sold, representing a 97% sell-through rate. Of the 185,135 carats offered, 183,385 carats were sold, achieving an average realised price of $146.08 per carat.
The rough emeralds were mined by Kagem in Zambia. Buyers viewed the lots in Bangkok before bidding through Gemfields’ online sealed-bid auction platform.
Adrian Banks, Gemfields’ MD- Product & Sales, said:
“While demand for higher-quality emeralds remains stable, the market is presently exercising a degree of caution, influenced by ongoing geopolitical tensions and prevailing macroeconomic uncertainty…Competition and pricing for the top-tier emeralds remained particularly strong.”
Banks also pointed to the Indian rupee’s roughly 10% depreciation against the US dollar since Kagem’s previous higher-quality auction in September 2025 as an added challenge for many customers.
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