International News
Gold prices edge lower amid strong dollar
Indian gold prices eased on Friday, September 26, tracking global cues as stronger US economic data lifted the dollar and dampened hopes of further rate cuts this year. In domestic markets, 24-carat gold traded at Rs.11,488 per gram, while 22-carat stood at Rs.10,530 and 18-carat at Rs. 8,616.On the international front, spot gold slipped 0.1% to $3,745.67 an ounce, while US December futures were steady at $3,774.80. Despite the pullback, the yellow metal remains up 1.6% for the week.
The retreat followed upbeat US economic indicators—faster GDP growth and lower jobless claims—which reduced the odds of additional monetary easing in 2025. The US dollar index climbed to a three-week high, eroding gold’s appeal to non-dollar investors.
US President Donald Trump’s new tariffs, effective October 1, could sustain inflation pressures, keeping gold attractive as a safe-haven asset. Investors now await the US Personal Consumption Expenditures (PCE) inflation report, a key indicator for Federal Reserve policy.
In India, retail demand ahead of Navratri and Diwali continues to support local prices, with premiums remaining high.
International News
Hopes for New Government data lifts precious metals prices AUGMONT BULLION REPORT
- Gold and Silver continued to rise, reaching a close to three-week high, supported by indications that the U.S. government shutdown was coming to an end and rising anticipation of another December interest rate cut by the U.S. Federal Reserve.
- Late on Monday, the U.S. Senate ended the longest shutdown with a compromise that would return federal funds to the United States. It would include three full-year appropriations measures and would finance the government until January 30 if the Senate passes the bill. It would then need to be approved by the House of Representatives and sent to President Donald Trump, a process that might take several days.
- Amid concerns about the economic consequences of the longest-ever U.S. government shutdown, consumer sentiment in the United States declined to a 3-1/2-year low in early November.
Technical Triggers
- Gold prices have achieved the target of $4150 (~Rs 125,000). Prices are expected to consolidate here for a while, before moving higher.
- Silver prices have achieved the target of $50.80 (~Rs 155,000). Prices are expected to consolidate here for a while, before moving higher.
Support and Resistance
| Category | Support Level | Resistance Level |
|---|---|---|
| International Gold | $4000/oz | $4200/oz |
| Indian Gold | ₹122,000/10 gm | ₹126,000/10 gm |
| International Silver | $48/oz | $51/oz |
| Indian Silver | ₹149,000/kg | ₹156,000/kg |
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