International News
Gold rally continues;US PCE Price Index data keenly awaited
Gold price extends its record-setting rally toward $3,100 after settling above $3,050 on Thursday. Sitting at record highs, Gold price keenly awaits the US Personal Consumption Expenditures (PCE) Price Index data and US President Donald Trump’s tariff updates for additional trading impetus.
The recent announcement of a 25% tariff on imported cars and light trucks, effective April 3, along with duties on auto parts beginning May 3, has reignited trade war fears. Reciprocal tariffs from key trading partners are expected to follow, creating an environment of uncertainty that further boosts gold’s appeal. Historically, protectionist policies have contributed to financial market instability, leading investors to shift capital into more stable assets such as gold.
Technical indicators suggest that gold prices are nearing the $3,080 resistance level, a crucial threshold for market sentiment. A breakthrough above this level could pave the way for prices to reach $3,100 and beyond. However, the Relative Strength Index (RSI) is currently at 72.50, indicating overbought conditions that may lead to a short-term correction. Key support levels to watch include $3,050 and $3,012, with $3,000 serving as a significant psychological barrier.
International News
GIA Celebrates America’s 250th Anniversary With Special Red, White and Blue Gem Showcase
Through This Curated Exhibition, GIA Highlights The Scientific, Historical and Artistic Dimensions Of Gemstones While Commemorating A Major Milestone In American History.
The Gemological Institute of America (GIA) has assembled a distinctive collection of red, white and blue gemstones and pearls to mark the 250th anniversary of the United States. The showcase demonstrates the remarkable diversity of gem materials and highlights how crystal structures, trace elements and natural formation processes influence colour and appearance.
The collection presents a patriotic palette through an array of rare and notable gemstones. Featured in the red category are ruby, red spinel, rhodochrosite and red beryl. A standout exhibit is a finely carved ruby portrait of Abraham Lincoln, underscoring the artistic possibilities of gemstone carving. The display also includes red beryl, one of the world’s rarest gemstones, which is commercially mined only at Utah’s Ruby Violet Mine.
Representing the white and colourless segment are zircon, beryllonite, apophyllite and pearls. Colourless zircon is renowned for its exceptional brilliance and fire, while beryllonite from Maine adds a uniquely American element to the collection. Natural pearls further enrich the display, showcasing the fascinating biomineralisation process through which they are formed inside mollusks.
The blue section features blue spinel, dumortierite, euclase and benitoite. Among these, benitoite holds special significance as California’s state gemstone. First discovered in 1907 and officially designated as the state gem in 1985, benitoite is celebrated for its vivid blue colour and striking sparkle. Despite extensive study, scientists have yet to fully determine the cause of its distinctive hue.
Through this curated exhibition, GIA highlights the scientific, historical and artistic dimensions of gemstones while commemorating a major milestone in American history.
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