International News
Gold rebounds on reviving trade tensions: AUGMONT BULLION REPORT
- President Donald Trump’s new tariff threat fueled demand for safe-haven assets, helping gold rise more than 1% to above $3370 (~Rs 96000), its highest level in almost a week.
- Concerns about a possible escalation of the global trade war have increased after President Trump announced his proposal to impose 100% tariffs on foreign-produced films, which has caused investors to turn to gold and other traditional safe-haven assets.
- Investors are currently anticipating the Federal Reserve’s policy decision and the speeches that several Fed officials are scheduled to give this week. Despite tensions over global trade, the strong non-farm payroll data released last Friday showed that U.S. hiring was still strong, indicating that the economy is resilient. Interest Rates are expected not to change at this meeting.
- President Trump is putting increasing pressure on the Federal Reserve to cut interest rates, but his tariff policies run the risk of making inflationary pressures worse, which makes policymaking more difficult.
Technical Triggers
Support and Resistance
| Metal | Market | Support Level | Resistance Level |
|---|---|---|---|
| Gold | International | $3200/oz | $3380/oz |
| Indian | ₹92,000/10 gm | ₹96,000/10 gm | |
| Silver | International | $32/oz | $34/oz |
| Indian | ₹93,500/kg | ₹98,500/kg |
DiamondBuzz
Lost Florentine Diamond Resurfaces in Canada After a Century, Tracing Its Glittering Origins to India’s Golconda Mines
Once a royal treasure of the Medici and Habsburg dynasties, the 137.27-carat gemstone reemerges in a Montreal vault, reaffirming India’s Golconda as the cradle of the world’s most storied diamonds.
The legendary Florentine Diamond — a 137.27-carat light yellow gemstone believed to have originated from India’s famed Golconda mines — has been rediscovered in a Canadian bank vault, ending over a hundred years of intrigue surrounding its disappearance.
According to recent reports, the diamond—once among Europe’s most celebrated royal jewels—was located in a vault in Montreal, safeguarded for decades by descendants of the Austrian imperial Habsburg family. The gemstone vanished after the fall of the Austro-Hungarian Empire in 1918, following Emperor Charles I’s exile, sparking decades of speculation over its fate — whether it was stolen, lost, or secretly sold.
Historians now confirm that Empress Zita, widow of Charles I, discreetly transferred the diamond to Canada during World War II for safekeeping. Its authenticity was recently verified by a European jewellery house that historically served the Habsburg court, confirming the gem’s provenance and preservation.
Renowned for its pale yellow hue and unique double-rose cut with 126 facets, the Florentine Diamond boasts a storied history — from its origins in India’s Golconda mines, to the Medici treasury in Florence, and later as part of the Austrian Crown Jewels in Vienna.
Its rediscovery has reignited global fascination with India’s gem legacy, which gave birth to other iconic diamonds like the Koh-i-Noor, Hope, and Nassak. Experts say the find underscores the importance of provenance and gem heritage in an increasingly globalised jewellery market.
The Habsburg family has announced plans to publicly exhibit the diamond in Canada next year, with potential displays in Europe to follow.
After more than a century of obscurity, the reemergence of the Florentine Diamond not only restores a lost royal masterpiece but also revives India’s enduring connection to the world’s most illustrious jewels.
Lost Florentine Diamond Resurfaces in Canada After a Century, Tracing Its Glittering Origins to India’s Golconda Mines
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