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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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VBJ SINCE 1900 Fiesting Over 2000 Unique Jhumka Designs

VBJ Since 1900 celebrates India’s timeless love for jhumkas with its grand Jhumka Festival, showcasing over 2,000 exquisite designs that blend heritage craftsmanship with modern elegance, extending the celebration through December.

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VBJ Since 1900 (Vummidi Bangaru Jewellers) India’s most trusted heirloom jewellery brand continues to captivate jewellery connoisseurs with its Jhumka Festival – the flavour of the season giving patrons a further chance to experience the timeless charm reimagined for today’s generation.

The Jhumka Festival celebrates India’s enduring love for the iconic earrings. Featuring over 2,000 unique designs across the categories, gold, silver, diamond and platinum capturing the intricate artistry and timeless craftsmanship. Blending filigree, temple-inspired motifs and modern silhouettes, each piece is a symphony of creating balance between heritage and contemporary elegance.

Speaking about the festival, Amarendran Vummidi, Managing Partner, VBJ Since 1900, said, “For 125 years, VBJ has honoured India’s jewellery traditions while evolving with changing times. This festival elevates the jhumka from a staple to a hero piece – crafted for movement, identity, and expression.”

Jithendra Vummidi, Managing Partner, VBJ Since 1900, added, “A jhumka is more than an ornament – it holds memory, character, and emotion. With this festival, we celebrate a form that resonates across generations, offering timelessness with relevance.”

As a fifth-generation family-run brand, VBJ Since 1900 takes immense pride in its role as the makers of the historic Sengol (sceptre) – a sacred symbol of India’s democratic journey. Discovered after 72 years, the Sengol was meticulously researched and identified by the VBJ team before being installed beside the Speaker’s chair in India’s new Parliament building. Much like the Sengol, the Jhumka Festival stands as a reflection of VBJ’s continuing mission to honour legacy through artistry and celebrate the stories that shape India’s cultural heritage.

During the festive season of Golu and Diwali last month, VBJ witnessed an overwhelming response to its Jhumka Festival – as customers embraced unique designs that seamlessly blend heritage with contemporary charm. Extending the festival till the mid of December is VBJ’s way of celebrating that continued love and demand. Building on this festive momentum, VBJ also showcased the Jhumka’s at Ignition,held at the ITC Grand Chola.

Through the Jhumka Festival, VBJ Since 1900 celebrates heritage and innovation. The collection, available at VBJ stores in Anna Salai and Anna Nagar as well as online, offers select customisation – continuing the brand’s legacy of timeless elegance and bespoke service.

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