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 |
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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