International News
Gold prices surged to an all-time high breaching $3,300/oz
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.
International News
Precious Metals Surge As Middle East Diplomacy Advances AUGMONT BULLION REPORT
Silver Surged Over 6% To Above $78, While Gold Rose Approximately 3% To Trade Near $4,700.
Safe-Haven Dynamics – Silver surged over 6% to above $78, while Gold rose approximately 3% to trade near $4,700. The primary driver was easing Middle East tensions, which pressured oil prices lower and reduced inflation concerns. Both Iran and the US are engaging mediators to finalise a one-page, 14-point memorandum of understanding, intended to establish a framework for a month-long negotiation process aimed at ending the conflict.
Geopolitical Developments – The White House is reportedly close to a deal with Iran, marking the most significant diplomatic progress since the conflict began. The proposed agreement would require Iran to accept enhanced UN inspections, suspend nuclear enrichment for 12–15 years, potentially relocate highly enriched uranium, and restrict underground nuclear facilities. In return, the US would phase out sanctions and release billions in frozen Iranian assets.
Macro-economic Signals – The US ADP report released Wednesday showed private-sector payrolls expanded by 109K in April, up from a downwardly revised 61K in March. The above-consensus reading signals continued, if uneven, labour market resilience. Meanwhile, CME FedWatch data indicates markets are still assigning meaningful probability to a Fed rate hike before year-end.
Technical Triggers
- Gold has recovered from the $4,500–4,550 (~ Rs. 1,49,000) support zone, with resistance now targeted at $4,800–4,850 (~ Rs. 1,55,000).
- Silver has met the $78 (~Rs. 2,56,000) upside target; subsequent resistance levels stand at $80 (~Rs. 2,60,000) and $82 (~Rs. 2,65,000).
Support and Resistance
| International Gold Support Level International Gold Resistance Level Domestic Gold Support Level Domestic Gold Resistance Level | : $4500/oz : $4850/oz : Rs. 148,000/10 gm : Rs. 155,000/10 gm |
| International Silver Support Level International Silver Resistance Level Domestic Silver Support Level Domestic Silver Resistance Level | : $73/oz : $82/oz : Rs. 240,000/kg : Rs. 265,000/kg |
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