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 |
International News
GJEPC Steps Up UK Outreach Ahead Of IIJS Bharat Premiere 2026
GJEPC Visited Major Jewellery Trading Hubs, Meeting 20+ Jewellery Retailers and Wholesalers Through In-Person Interactions
GJEPC intensified its promotional efforts in the United Kingdom ahead of IIJS Bharat Premiere 2026 through a week-long outreach programme in London that combined direct retailer engagement with the 2nd India-UK Jewellery Buyer-Seller Meet (BSM). The initiative was held from 6 to 10 July 2026 and aimed to attract more UK buyers while strengthening trade ties following the India-UK Free Trade Agreement.
As part of the campaign, Gaurang Vora, Manager, GJEPC, visited major jewellery trading hubs including Green Street, Southall and Wembley, meeting 20+ jewellery retailers and wholesalers through in-person interactions. He promoted IIJS Bharat Premiere 2026, distributed event information and registration details, and gathered market feedback on sourcing requirements and buying trends.
Based on feedback from UK buyers, the 2nd India-UK Jewellery Buyer-Seller Meet generated strong demand for 22-karat gold jewellery, diamond jewellery, lightweight designs, lab-grown diamond jewellery and silver jewellery. Buyers also expressed interest in sourcing from reliable, export-oriented Indian manufacturers and suggested that suppliers offer smaller minimum order quantities to better meet the needs of independent retailers.
The campaign generated new buyer enquiries, strengthened relationships with existing trade partners and provided GJEPC with market intelligence on consumer preferences and sourcing trends. The Council plans to continue engaging with buyers, assist with IIJS Bharat Premiere registrations and facilitate introductions between overseas buyers and Indian manufacturers.
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