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Gold prices touch  Rs 1 lakh/10 gm mark: AUGMONT BULLION REPORT

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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

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De Beers and Forevermark Diamond Jewellery Bring Jaipur’s Royal Legacy Into A New Chapter

-His Highness Sawai Padmanabh Singh of Jaipur announced as advocate for natural diamonds in India-Princess Gauravi Kumari of Jaipur unveiled as the face of Forevermark’s festive campaign –

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Against the historic setting of Jaipur’s City Palace, De Beers brought together heritage, contemporary culture and diamond jewellery for a landmark event that celebrated two significant new chapters for natural diamonds in India. The evening presented His Highness Sawai Padmanabh Singh of Jaipur as De Beers Group’s advocate for natural diamonds in India, while Forevermark Diamond Jewellery marked its first anniversary in India with a new festive campaign featuring Princess Gauravi Kumari of Jaipur. Together, the two moments reflected De Beers’ vision, from the natural origin, rarity and authenticity of diamonds to their contemporary expression through jewellery, design and personal style.

As Maharaja of Jaipur and part of a living legacy shaped by jewellery, craftsmanship and precious gems, His Highness Sawai Padmanabh Singh brings an instinctive understanding of rarity, provenance and the value of pieces that endure beyond the moment. His role with De Beers is to bring the natural diamond story into a new cultural conversation, connecting its extraordinary natural origin and individuality with a generation that is redefining luxury through authenticity, meaning and personal expression. In doing so, he brings royalty’s storied relationship with diamonds into the present, while helping shape the next chapter of natural diamonds in India.

Sawai Padmanabh Singh of Jaipur Said:

“For me, legacy is not simply about preserving the past; it is about understanding where you come from and finding ways to make that heritage relevant for the future. A natural diamond carries that same sense of continuity. It is shaped by nature over an extraordinary period of time, and its value lies not only in its beauty, but in the rarity and authenticity that make it truly timeless. I look forward to this association with De Beers as the advocate of the gemstone as I get to showcase the unique story of a diamond to the younger generations.”

The initiative forms a part of De Beers’ broader ambition to strengthen the desirability of natural diamonds, enhancing their story for a new generation of Indian consumers.

Shweta Harit, Senior Vice President, De Beers Group and CEO, Forevermark, said:

“India has a remarkable relationship with diamonds, rooted in generations of craftsmanship, jewellery and an appreciation for rarity. Today, as a new generation redefines what luxury means to them, we see an opportunity to bring the story of natural diamonds into that conversation through His Highness Sawai Padmanabh Singh who brings a rare cultural connection to this story. His association reflects our ambition to deepen the emotional and cultural relevance of natural diamonds and grow the category in India.”

Following the unveiling of His Highness Sawai Padmanabh Singh for the natural diamond narrative, another chapter unfolded as Forevermark Diamond Jewellery unveiled Princess Gauravi Kumari as the face of its festive campaign.

Marking one year of Forevermark in India, the campaign brings together contemporary designs crafted with beautiful, rare and responsibly sourced natural diamonds while exploring the role of modern jewellery in festive dressing and individuality with Princess Gauravi Kumari’s distinctive sensibility. It reflects Forevermark’s growing presence in India and its vision of inspiring a new generation through considered design and personal expression.

Princess Gauravi Kumari of Jaipur Said:

“The festive season has always been about coming together, creating memories and celebrating the people and moments that matter. What I love about Forevermark is the way it brings the beauty of natural diamonds into a more contemporary expression of style. Jewellery can be traditional, bold, understated or completely personal. Forevermark Diamond Jewellery blends tradition with modern aesthetic, making it a perfect addition to the contemporary woman of today.”

Shweta Harit, Senior Vice President, De Beers Group and CEO, Forevermark Added:

“Forevermark gives us an opportunity to express the beauty and rarity of natural diamonds through a more contemporary lens. As we mark our first year in India, we are seeing a consumer who wants jewellery to feel personal, distinctive and connected to their own sense of style. Gauravi embodies that sensibility beautifully. She brings together the richness of her Jaipur heritage with a distinctly modern point of view, making her a natural fit for Forevermark as we enter our next chapter in India. Our ambition is to build on this momentum, broaden the occasions for diamond jewellery and inspire a new generation to discover diamonds in their own way.”

The event brought together celebrities, leading personalities and HNI guests from Jaipur and across India, for an evening celebrating diamonds, heritage, fashion and contemporary Indian luxury. The campaign films were unveiled during the evening, followed by a grand fashion show displaying Forevermark jewellery across contemporary festive looks amongst an innovative dance performance.

India remains a strategically important market for De Beers, with the company focused on growing the diamond category and deepening its relevance among a new generation of Indian consumers. As jewellery increasingly moves beyond traditional milestones into self-expression, personal achievement, gifting and new occasions, De Beers sees an opportunity to make diamonds part of a broader and more contemporary luxury conversation. For Forevermark, the past year has been focused on establishing the brand in India, expanding its retail presence and introducing its distinctive expression of natural diamond jewellery to Indian consumers. With 10 stores now across the country, Forevermark enters its second year with an ambition to build further scale and create more opportunities for consumers to discover and experience exceptional natural diamond jewellery.

The evening in Jaipur brought these two distinct dimensions of De Beers’ vision to life: the extraordinary story of the diamond and the evolving ways in which that rarity is expressed through jewellery today. Together, the two announcements reflect De Beers’ ambition to strengthen the desirability of natural diamonds while creating new relevance for them with a generation that is redefining luxury. As India’s relationship with diamonds evolves, De Beers is focused on shaping what comes next, from the story of the gem itself to the way it is discovered, worn and celebrated.

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