International News
Gold vulnerable to the Risk-On sentiment: AUGMONT BULLION REPORT
- Following the U.S. and China’s agreement to significantly reduce tariffs, gold fell to its lowest level in almost a month, although it slightly recovered yesterday as a result of ongoing uncertainty surrounding the direction of trade talks.
- Because of the modest April CPI miss, the US dollar is under less pressure, and tariffs have less immediate effect. The April US inflation report was marginally weaker than what market participants had anticipated monthly.
- The World Gold Council reports that gold ETFS saw net inflows of 115 tons in April, the biggest monthly rise in more than three years and the fifth consecutive month. Nearly 65 tons of these inflows came mostly from China.
Technical Triggers
- Gold prices may drop to $3200 (~Rs 92000) if they remain below $3265 (~Rs 94000) this week. And we are expected to see Fundamental a $200 decline from those levels up to $3000 (~Rs 86000) if prices break and hold below $3200, which is the Double Top formation’s neckline support.
- Silver prices are expected to get momentum now, as the tariff war has de-escalated. We are likely to see prices touching $34(~Rs 99000) and $35(~Rs 102,0000) soon in the coming days.
| Commodity | Market | Support Level | Resistance Level |
|---|---|---|---|
| Gold | International | $3200/oz | $3450/oz |
| Indian | ₹92,000/10 gm | ₹97,500/10 gm | |
| Silver | International | $32/oz | $34/oz |
| Indian | ₹93,500/kg | ₹99,000/kg |
DiamondBuzz
Diamond Slump forces Debswana to diversify into copper, platinum and solar
Diamond-centric mining models is giving way to broader resource portfolios
Debswana Diamond Company, the 50–50 joint venture between the Botswana government and De Beers, is moving to diversify into copper, platinum and renewable energy as the prolonged downturn in natural diamond demand pressures earnings and forces the industry to rethink its growth strategy.
The company’s board has approved plans to invest in a portfolio of non-diamond projects after revenue fell 46% in 2024, the latest available financial year, highlighting the scale of the downturn in the global diamond market.
The move signals a strategic shift toward commodities with stronger long-term demand fundamentals, particularly copper, which is central to global electrification and energy-transition infrastructure.
Debswana’s diversification reflects a broader industry pivot as diamond producers confront weak consumer demand, rising competition from lab-grown stones and elevated inventories across the supply chain.
The shift is also visible among smaller exploration companies. Botswana Diamonds recently rebranded as Botswana Minerals, signalling its own strategic focus on copper exploration rather than diamonds.
Together, these moves underscore a growing consensus across the sector: the era of diamond-centric mining models is giving way to broader resource portfolios anchored in energy-transition metals.
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