International News
Gold retreats as Trump delays EU tariffs: AUGMONT BULLION REPORT
- Gold saw profit booking as safe-haven purchasing eased after U.S. President Donald Trump announced he would postpone his intention to put 50% tariffs on imports from the European Union from June to July.
- To allow negotiators more time to establish a trade agreement, European Commission President Ursula von der Leyen requested the extension, which is why there has been a delay.
- In addition to the robust demand from central banks and institutional investors, the world is still adjusting to U.S. trade policies and geopolitical uncertainties, which should push demand for gold investments above current levels.
Technical Triggers
- Gold prices are expected to trade in the range of $3275(~Rs 95000) and $3375(~Rs 96400) in the near term. Either side breakout or breakdown will give 2-3% movement.
- As suggested yesterday, Silver prices won’t sustain above $34. We saw reversal and profit booking at those levels. Consolidation in this range of $32.5(~Rs 96000) and $34(~Rs 99000) would continue in the near term.
Support and Resistance
| Metal | Region | Support Level | Resistance Level |
|---|---|---|---|
| Gold | International | $3275/oz | $3375/oz |
| Indian | ₹95,000/10 gm | ₹96,500/10 gm | |
| Silver | International | $32.5/oz | $34/oz |
| Indian | ₹96,000/kg | ₹99,000/kg |
In a landmark moment for the Indian jewellery industry’s expanding global footprint, Sky Gold & Diamonds Ltd. proudly inaugurated its state-of-the-art Sky Souk Office & Experience Centre at Experience Centre Experience Centre , Dubai Gold Souk Extension.
The inauguration was conducted by Tamjid Abdullah, Joint Managing Director, Jawhara Jewellery, and attended by eminent industry leaders including John Paul Alukkas, Managing Director, Joyalukkas Jewellery – International Operations; K.P. Abdul Salam, Vice Chairman, Malabar Group; and Rajesh Jain, Partner, Siroya Jewellers LLC.
Adding to the momentous occasion were Darshan Chauhan, Mahendra Chauhan, and Akash Talesara, President, Sky Gold & Diamonds Ltd., along with the entire Sky Gold & Diamonds team.
This milestone underscores the brand’s commitment to blending Indian craftsmanship with global luxury sensibilities, positioning Sky Souk as a hub for innovation, artistry, and strategic B2B collaboration within Dubai’s dynamic jewellery landscape.
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