International News
Gold spikes on sluggish US data ; AUGMONT BULLION REPORT
- Following confirmation of the US economic downturn by ISM and ADP statistics, gold has recovered from its low. According to US economic data, the economy is cooling, which may call for the Fed to take additional action.
- Business activity in the services sector shrank for the first time in over a year, according to data from the Institute for Supply Management. According to the ADP National Employment Change data, private hiring in the nation also experienced a significant slowdown in May.
- Regarding trade, worries about growing hostilities between the US and important trading partners remained after Trump increased steel and aluminium tariffs and said that negotiating with Chinese President Xi Jinping was especially challenging.
- Markets await Jobless Claims and NFP for additional policy guidance as Fed officials continue to be hesitant about lowering rates.
Technical Triggers
- Gold prices have broken the range of $3275(~Rs 95000) and $3375(~Rs 96400) on the upside. If this positive momentum continues, we are likely to see the price rise towards $3450 (~Rs 99000).
- Silver prices have broken the one-month range of $32.5(~Rs 96000) and $34(~Rs 99000), next resistance is $35 (~Rs 101,500).
Support and Resistance
| Metal | Region | Support Level | Resistance Level |
|---|---|---|---|
| Gold | International | $3275/oz | $3450/oz |
| Indian | ₹95,000/10 gm | ₹99,000/10 gm | |
| Silver | International | $32.5/oz | $35/oz |
| Indian | ₹96,000/kg | ₹1,01,500/kg |
DMCC – the leading international business district that drives the flow of global trade through Dubai – officially launched DMCC FinX today during the 13th Dubai Precious Metals Conference (DPMC) at Atlantis The Palm. Bringing together more than 1,000 senior industry figures, the conference convened global leaders from precious metals, finance, policy and technology to examine the forces reshaping the future of the sector.
Held under the theme “The Future of Precious Metals: Tariffs, Tokenisation and Trade Flows,” DPMC 2025 explored the rapid transformation of global commodities markets as geopolitical realignment, emerging technologies and reconfigured trade corridors redefine how value moves worldwide. Discussions centred on the convergence of precious metals, digital assets and finance; the rise of tokenisation; and Dubai’s accelerating role as a centre of trust, transparency and innovation for the global gold and precious metals industry.
Keynote speeches were delivered by H.E. Dr Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, Ruth Crowell, Chief Executive of the London Bullion Market Association (LBMA) and global financial commentator Grant Williams. The conference featured senior representatives from leading exchanges, refineries, bullion banks and regulatory bodies, including the World Gold Council, the Shanghai Gold Exchange, CME Group and the UAE Ministry of Economy. Panel sessions explored the realignment of global trade flows, the harmonisation of international standards, responsible sourcing in artisanal mining and the evolving role of bullion banks in a multipolar economy.
One of the headline announcements of the day was the formal launch of DMCC FinX – a strategic expansion designed to connect capital market participants, trade finance professionals and fintech innovators with DMCC’s rapidly growing community of more than 26,000 companies. Built on DMCC’s established financial and commodities infrastructure – including the Dubai Gold & Commodities Exchange (DGCX), its central counterparty and clearinghouse the Dubai Commodities Clearing Corporation (DCCC), DMCC Crypto Centre, DMCC Tradeflow platform, and key industry partnerships with regulatory players such as the Dubai Virtual Assets Regulatory Authority (VARA) – DMCC FinX will bridge real-world commerce, capital markets and digital assets, reinforcing Dubai’s position as a global hub where finance and trade intersect
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