National News
Gold rebounds after headlines of global trade war: Augmont Bullion Report
Investors are looking forward to Friday’s U.S. personal consumption expenditures data
- Gold prices rebound due to rising global trade concerns caused by US auto tariffs. US President Donald Trump announced a 25% tariff on imported vehicles and light trucks beginning next week, escalating the global trade war. The deadline for retaliatory duties from the world’s largest economy is April 2.
- Investors are looking forward to Friday’s U.S. personal consumption expenditures data, which may provide insight into the country’s interest rate path.
- According to World Gold Council data, global gold ETFs saw $3 billion in net inflows last week alone, or around 31 tons of gold. That was the seventh straight week of inflows, with North America accounting for the majority of the purchases. Year-to-date, global net inflows have exceeded $19 billion (207 tons), putting 2025 on track for the strongest Q1 since 2022.
Technical Analysis & Trading Strategy
| Metal | Support Level | Resistance Level | Trading Strategy |
|---|---|---|---|
| Gold | $3,010 (~₹87,200) | $3,080 (~₹90,000) | Below $3,010: Potential retracement to $2,985 (~₹86,500). Above $3,040 (~₹88,200): Prices may head higher. |
| Silver | $33 (~₹97,000) | $35 (~₹1,02,000) | Trading in range. Strategy: Buy on dips, sell on rallies. |
Support and Resistance
| Category | Support Level | Resistance Level |
|---|
| International Gold | $2,985/oz | $3,080/oz |
| Indian Gold | ₹86,500/10 gm | ₹90,000/10 gm |
| International Silver | $33/oz | $35/oz |
| Indian Silver | ₹97,000/kg | ₹1,02,000/kg |
The session saw a power packed panel of experts that comprisedSurendra Mehta, National Secretary- IBJA,Ranjith Singh,Head of Business Development, IIBX, Shweta Dhanak, Director – Vijay Exports,S Thirupathi Rajan, MD Goldsmith Academy, Shivanshu Mehta, SVP & Head Bullion-MCX.The session was moderated by Chirag Seth, Principal Consultant, Metals Focus.
Some salient points made by the panelists:
- Gold prices are not linked to consumer demand. They are linked to central bank buying and ETFs
- Till the banking system doesn’t collapse, gold price will continue to rise
- Jewellers were advised to use a mix of futures and options for risk mitigation
- Given the current situation manufacturers selling on credit or unfavorable deals could be fatal flaw for business.
- Precious metals forecast: Surendra Mehta said he sees gold in 2026 in $4900-5100 range and silver in $90-105.Looking further he said by 2030-2035 gold could touch $18000- 20000 and silver could reach $500. Chirag Seth predicted silver touching $105 this year and gold moving in the $ 5200- $ 5500.
Gold & Precious Metals – A future outlook
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