International News
Gold touches $5250 on US Tariff uncertainty AUGMONT BULLION REPORT
Safe-haven demand – Gold and silver climbed to a three-week high, supported by renewed safe-haven demand. Market sentiment turned cautious after U.S. President Donald Trump reacted strongly to a court decision and imposed a blanket 15% tariff on imports the maximum permitted under the law while maintaining that trade agreements with nearly 20 countries should remain intact.
Geopolitical Tensions – The U.S. and Iran are scheduled to hold another round of talks in Geneva this week. While the dialogue suggests diplomatic engagement, lingering uncertainty over Iran’s nuclear programme continues to embed a risk premium in markets, supporting bullion.
Economic Data – U.S. inflation rose more than expected in December, with indications of further acceleration in January. Persistent inflation could delay Federal Reserve rate cuts, which may cap gold’s upside. However, weaker-than-expected Q4 GDP growth at 1.4% signals economic slowing, which could ultimately reinforce expectations of monetary easing and provide underlying support to gold and silver.
Technical Triggers
As indicated in the previous report, gold has achieved the target of $5200 (~ Rs.1,60,000). This technical breakout indicates renewed bullish momentum, with prices now likely targeting the next resistance zones at $5,300 (~ Rs.1,63,000) and $5,400 (~ Rs.1,66,000).
As indicated in the previous report, silver has achieved the target of $85 (~ Rs.2,60,000). Prices are now gradually approaching the next resistance level of $90 (~Rs 270,000) and $92 (~ Rs,2,80,000).
Support and Resistance
| Metal | Market | Support Level | Resistance Level |
|---|---|---|---|
| Gold | International | $5100 / oz | $5300 / oz |
| Gold | India | ₹158,000 / 10 gm | ₹163,000 / 10 gm |
| Silver | International | $77 / oz | $90 / oz |
| Silver | India | ₹240,000 / kg | ₹270,000 / kg |
Source:AUGMONT BULLION REPORT
International News
GJEPC Auckland Visit Targets Growth In India-NZ Jewellery Trade
The Opportunity In New Zealand Is Significant Relative To The Current Level Of Jewellery Trade. India’s Gem and Jewellery Exports To New Zealand Rose 50.56% To US$25.46 Million In FY2025-26, From US$16.91 Million In FY2024-25.
The GJEPC trade delegation’s Auckland programme has highlighted the scope for expanding India’s gem and jewellery exports to New Zealand as the two countries move towards implementing their recently concluded Free Trade Agreement (FTA).
The Auckland visit was part of GJEPC’s Australia and New Zealand trade delegation, held from 20-26 August 2026, with the delegation focused on connecting Indian manufacturers and exporters with buyers and industry stakeholders across the two markets.
The opportunity in New Zealand is significant relative to the current level of jewellery trade. India’s gem and jewellery exports to New Zealand rose 50.56% to US$25.46 million in FY2025-26, from US$16.91 million in FY2024-25.
The recently concluded India-New Zealand FTA is expected to create further opportunities for Indian exporters. New Zealand has committed to duty-free access for Indian exports across 100% of its tariff lines once the agreement enters into force.
On 26th August, Vijay Mangukiya, Convener – International Events, GJEPC and leader of the delegation, met Dr. Madan Mohan Sethi, Consul General of India in Auckland. Mangukiya has said the delegation was aimed at bringing Indian manufacturers and exporters closer to buyers and industry stakeholders in both Australia and New Zealand, with the objective of identifying new business opportunities and developing long-term partnerships.
The delegation’s Auckland market visits covered a broad cross-section of the local jewellery sector, including Michael Hill, Wallace Bishop, Hardy Brothers, Prouds, and Partridge Jewellers. The delegation also observed international luxury and contemporary jewellery brands including Van Cleef & Arpels, Roberto Coin, Messika and FOPE, reflecting the competitive environment in which Indian exporters would be seeking to establish or expand relationships.
India’s exports of individual jewellery categories to New Zealand also recorded strong growth in FY2025-26. Gold jewellery exports rose 84% to US$17.47 million, while silver jewellery exports doubled to US$0.91 million. Lab-grown diamond exports rose 2% to US$0.63 million, and imitation jewellery increased 13.16% to US$0.43 million. Cut and polished diamond exports were US$5.76 million.
The figures underline the growing contribution of finished jewellery to India’s New Zealand business. With the FTA expected to improve market access and the Auckland market showing demand across gold, diamonds, coloured stones, pearls and branded jewellery, GJEPC’s delegation is seeking to convert this existing growth into deeper commercial relationships.
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