National News
Gold prices touch Rs 1 lakh/10 gm mark: AUGMONT BULLION REPORT
Gold prices reached a record high of $3397 (~Rs 96747) on exchanges and nearly Rs 1 lakh in the spot market after adding 3% GST. Concerns over global economic growth as a result of the escalating Sino-U.S. trade war are driving the rise, with a weaker dollar adding to the momentum.
Fundamentally, markets are pricing in increased geopolitical risks, fueled by U.S. trade tensions and stagflation concerns, while persistent central bank demand adds to price pressures. On April 2, US President Donald Trump imposed “reciprocal tariffs” on dozens of countries, and while his administration has suspended duties for some, it has escalated its trade war with China.
China cautioned countries on Monday not to strike a bigger economic deal with the United States at its expense, a move Trump is allegedly looking for from countries seeking tariff reductions or exemptions. Meanwhile, Trump launched a slew of attacks on Federal Reserve Chairman Jerome Powell on Thursday, as his administration considers firing him.
On the geopolitical front, Russia and Ukraine accused one other of hundreds of strikes that breached President Vladimir Putin’s one-day Easter ceasefire, with the Kremlin claiming there was no instruction to extend the pause in frontline fighting.
The next potential milestone for gold could be around $3500 (~Rs 100,000) if this rally continues further, but positioning may appear crowded in the short run, and technical indications suggest near-term overbought circumstances. However, one must exercise extreme caution because prices have skyrocketed in a relatively short period. If prices fall below $3300 (~Rs 94300), profit-booking can lower prices to around $3100 (~Rs 90000). Silver prices have been trading in the range of $32 (~ Rs 94000) and $33 (~ Rs 97000) and to to continue same range in the coming week
National News
Solitario Diamonds Draws Crowds Nationwide with ‘Free Diamond’ Akshaya Tritiya Campaign
~High footfall, first-time buyers, and digital traction signal a shift in how India is engaging with diamonds~
This Akshaya Tritiya, Solitario Diamonds drew strong footfall across its stores nationwide with a “free diamond” offer for the first 101 customers at each store.
The campaign drove over 2,000 walk-ins, with more than 150 transactions recorded in a single day – marking the brand’s highest ever single-day sales. Weekend conversion rates stood at 11–12%, indicating strong buying intent.
City-level trends highlighted distinct consumer behaviour. Mumbai and Delhi together contributed nearly 40% of overall sales, while Bengaluru and Pune saw the highest number of first-time buyers. Chennai and Kolkata reflected steady, family-led purchases with a strong gifting skew.
A key takeaway from the campaign was the profile of the consumer. A significant share of buyers were purchasing a diamond for the first time, often for themselves or as gifts – pointing to a shift away from occasion-led buying towards more personal, intent-driven consumption. As one customer in Mumbai noted, “I’ve always associated Akshaya Tritiya with gold, but this was my first diamond purchase—it felt special and spontaneous.”
The campaign also delivered strong digital momentum, generating over 3 million impressions, a 2.5X spike in engagement across social media channels, and a 35% increase in website traffic during the campaign period. This year’s performance marked a step-up from last year, with a 2X increase in footfall and a 1.8X rise in conversions, alongside a visible uptick in younger consumers and first-time buyers entering the category.
“Akshaya Tritiya has always been synonymous with gold buying. This year, we wanted to open the occasion to a new category of consumers,” said Ricky Vasandani, Co-founder & CEO, Solitario Diamonds.

“The number of first-time buyers we saw is a strong signal that diamonds are increasingly being viewed as something more immediate and personal, rather than just legacy purchases.”
Kabir Kate, CMO, Solitario Diamonds, added,
“The idea of offering a free diamond was not just about an incentive; it was about giving people a reason to experience the brand firsthand. The scale of participation and the conversations it sparked—both in-store and online—show us that consumers today are far more open to rethinking traditional categories.”

The campaign has since emerged as Solitario’s most successful retail initiative to date, reflecting a broader shift towards accessible, experience-led luxury and a changing approach to how diamonds are being discovered and purchased in India.
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