International News

Gold prices surged to an all-time high breaching $3,300/oz

Published

1 year ago

April 17, 2025

Gold prices surged to an all-time high on Wednesday, breaching $3,300 an ounce in international spot markets for the first time as escalating U.S.-China trade tensions sent investors fleeing to traditional safe havens.

The yellow metal climbed to $3,318 per ounce in overseas trading, extending its recent rally and drawing closer to the symbolic ₹1,00,000 per 10 grams mark for 24-karat gold in India. Domestically, prices mirrored the global trend: in Delhi, gold was quoted at ₹98,100 per 10 grams by evening, while June futures on the Multi Commodity Exchange (MCX) hit a record ₹95,435.

President Trump’s directive for a probe into critical minerals added to the market anxiety, reinforcing the rush toward safe haven assets.

The sharp price escalation, however, has chilled consumer demand in India—the world’s second-largest gold market—prompting local jewelers to sell at a discount to imported prices. Gold is currently trading at a 1–2% discount to its landing cost in Indian markets.

Meanwhile, silver has trailed the gold rally. International spot prices for the white metal hovered around $32.80 per ounce Wednesday, crossing ₹1,00,000 per kilogram in Delhi, but still lagging behind gold in terms of momentum.

For now, analysts expect gold’s bullish run to persist, fueled by geopolitical uncertainty, inflation concerns, and growing investor caution.

Related Topics:2025 Gold Market internationalnews

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International News

Consortium Led By Former De Beers CEO Gareth Penny Selected As The Preferred Bidder To Acquire De Beers

Botswana is expected to play a pivotal role in the transaction. The country, together with Namibia, Angola and other shareholders, already owns a 15% stake in De Beers

Published

8 hours ago

July 18, 2026

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A consortium headed by former De Beers CEO Gareth Penny has been selected as the preferred bidder to acquire De Beers, according to Botswana’s Minister for State President, Defence and Security, Moeti Mohwasa.

Speaking on the development, Mohwasa said Anglo American conducted a competitive sale process involving three shortlisted bidders before identifying the Global Diamond Consortium as its preferred choice.

Anglo American announced plans to divest De Beers in May 2024 as part of a broader restructuring strategy, driven by prolonged weakness in the diamond market and other business priorities.

The sale process has attracted significant interest from industry leaders and investors. Among those previously linked to the bidding were former De Beers CEO Bruce Cleaver, Australian mining executive Michael O’Keeffe, Indian billionaire Anil Agarwal, and Indian diamond companies KGK Group and Kapu Gems.

Botswana is expected to play a pivotal role in the transaction. The country, together with Namibia, Angola and other shareholders, already owns a 15% stake in De Beers and retains important rights under the shareholder agreement. Mohwasa emphasized that Botswana has the flexibility to either join the preferred bidder as a strategic partner or exercise its pre-emptive rights independently or with another investor.

Industry observers believe the eventual owner will seek to preserve De Beers’ vertically integrated business model, spanning diamond mining, trading and global natural diamond marketing, while positioning the company to benefit from a potential recovery in natural diamond demand and prices.