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 |
International News
Significant Upside Trajectory In The Metals Sector
Precious Metals Surge on Geopolitical Optimism as Gold and Silver Rally, While Crude Oil Faces Downward Pressure Amid Ongoing US–Iran Developments
Gold rates and silver rates in India will be driven by global trends, as the Indian market is closed. Trading in commodities, including gold and silver, will be closed for half a day on April 14 at MCX.
We are seeing a significant upside trajectory in the metals sector, driven by recent geopolitical synergies:
- Gold Asset Class: Spot prices have achieved a value-add recovery, scaling past the $4,760/oz threshold.
- Silver Asset Class: Currently experiencing a high-growth phase, surging approximately 2% to reach a target density near $77/oz.
- Market Bandwidth: While the MCX interface is currently undergoing a scheduled half-day service window on April 14,
- Energy Sector Headwinds
Conversely, the energy vertical is facing downward scalability issues:
- Crude Oil Index: Both US WTI and Brent Crude are failing to gain leverage, currently underperforming by 2% and hovering around the $98/bbl mark.
Geopolitical Synergy & Risk Mitigation
The recent bullish momentum in precious metals is a direct byproduct of strategic bilateral engagement between the US and Iran. Key stakeholders are currently deep-diving into negotiations to extend the current truce framework.
- US Perspective: President Trump has acknowledged a proactive outreach from Tehran following the implementation of a naval blockade.
- Iranian Alignment: President Pezeshkian has signaled readiness to move the needle on peace discussions, provided all deliverables remain within the compliance framework of international regulations.
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