International News
Gold stays strong around $3300 on US fiscal worries AUGMONT BULLION REPORT
- Amidst persistent concerns about the growing U.S. deficit, gold is still trading at about $3300 thanks to the dollar’s decline, which usually increases the precious metal’s allure as a safe-haven.
- The Congressional Budget Office estimates the recently enacted US tax bill, which is now headed to the Senate, will cost close to $4 trillion, escalating concerns about long-term fiscal instability.
- These worries about growing deficits and increased debt servicing costs are highlighted by Moody’s recent lowering of the US credit rating.
- Gold also benefited earlier this week from heightened geopolitical tensions following allegations that Israel would attack Iranian nuclear sites, which sparked concerns of a wider Middle East conflict.
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.
International News
Precious Metals Rally On US-Iran Ceasefire: Gold Tops $4,850, Silver Jumps To $76
Sharp Rebound Comes From Post-Conflict Lows, As Oil Dipped Below $100 Per Barrel and The Dollar Weakened
COMEX gold rocketed 3.1% to above $4,850 per ounce in Asian trading, building on yesterday’s 1.2% gain, while silver soared 6.8% to $76.92/oz. The rally followed U.S. President Trump’s announcement of a two-week ceasefire with Iran, halting strikes to negotiate the reopening of the Strait of Hormuz.
Iran has submitted a 10-point proposal through a Pakistani mediator, with talks scheduled for April 10 in Islamabad. This sharp rebound comes from post-conflict lows, even as oil dipped below $100 per barrel and the dollar weakened—factors that bolster dollar-denominated precious metals.
Since the February conflict began, gold has fallen about 10% overall and silver around 17%, but recent ceasefire hopes and signs of slowing global growth are fueling the recovery, offsetting rate-hike concerns. Volatility lies ahead with an upward bias if safe-haven demand persists and macroeconomic conditions remain supportive. Markets are now awaiting the minutes from the Fed’s March meeting, due on Wednesday.
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Precious Metals Rally On US-Iran Ceasefire: Gold Tops $4,850, Silver Jumps To $76
Precious Metals Rally On US-Iran Ceasefire: Gold Tops $4,850, Silver Jumps To $76
PNGS Reva Diamond Jewellery Limited Posts Record Q4 FY26, Nearly Doubles Core Diamond Business Year-on-Year
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International News1 hour agoPrecious Metals Rally On US-Iran Ceasefire: Gold Tops $4,850, Silver Jumps To $76
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National News43 minutes agoPNGS Reva Diamond Jewellery Limited Posts Record Q4 FY26, Nearly Doubles Core Diamond Business Year-on-Year
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New Premises21 hours agoP. N. Gadgil & Sons Expands in Pune with New Store at Tribeca Highstreet; Launches 9KT Collection
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DiamondBuzz41 minutes ago1,500 Offices Projected to be Operational at the SDB Within the Next 12 Months
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