International News
Historic Mughal Emerald Jewels to Lead Christie’s Magnificent Jewels Auction in New York
Over 2,000 carats of rare Mughal-era emeralds and multi-gem treasures — including a 470-carat centerpiece — headline a landmark sale alongside prestigious pieces from Anne Bass and Lucille Coleman collections.
Christie’s will showcase an extraordinary array of Mughal jewels at its upcoming Magnificent Jewels auction in New York on June 17, led by a remarkable carved emerald necklace bearing over 1,150 carats of Colombian emeralds. The historic piece is inscribed with the name Ahmad Shah Durrani, founder of the Durrani Empire, and features a massive 470-carat central emerald. Dating back to 1612, this jewel is steeped in royal heritage and has been linked in historical records with other legendary gems such as the Timur Ruby and the Koh-i-Noor diamond. It carries a pre-sale estimate of up to $3 million.
Two additional Mughal masterpieces will also feature in the sale. One is a multi-gem necklace set with four Colombian emeralds totaling nearly 800 carats, expected to fetch up to $3 million. The other is a remarkable necklace strung with over 2,000 carats of spinel and natural pearls, with eight stones engraved with the names of influential rulers including Delhi Sultan Muhammad ibn Tughluq, Mughal emperors Babur, Jahangir, and Shah Jahan. That piece is estimated to sell for as much as $2 million.
These jewels will be presented alongside the personal collection of philanthropist Anne Hendricks Bass, which includes 26 pieces from esteemed design houses such as Van Cleef & Arpels, Bulgari, Cartier, and JAR. A standout from this collection is a pair of Van Cleef & Arpels diamond pendant earrings, estimated at up to $1.8 million, and a JAR sapphire, emerald, and diamond necklace, valued at up to $300,000.
Also featured in the auction is a group of nine Van Cleef & Arpels Mystery-Set jewels from the collection of philanthropist Lucille Coleman, described by Christie’s as a “significant” highlight of the sale.
With its blend of historical depth and iconic 20th-century design, the June auction promises to be one of the most compelling jewelry events of the year.
International News
Precious Metals gain after FED minutes AUGMONT BULLION REPORT
Liquidity – Gold remains in a consolidation phase, largely due to thin liquidity conditions during the Lunar New Year holiday week. With major Asian markets — including mainland China, Hong Kong, Singapore, Taiwan, and South Korea — closed, trading volumes are subdued. The muted price action appears technical in nature rather than driven by any fundamental shift.
Economic Data – On the macro-economic front, minutes from the Federal Reserve’s January meeting indicated a divided policy stance. Some officials supported pausing further rate cuts until inflation shows clearer improvement, while others discussed the possibility of rate hikes, advocating a balanced outlook. Following this, traders reduced expectations for multiple rate cuts this year. Markets now await key GDP and PCE inflation data, which could shape future rate expectations.
Geopolitical Tensions – Geopolitical tensions involving Iran have resurfaced. Reports suggest that any potential U.S. military action, if talks fail, could evolve into a prolonged campaign. This development may provide underlying support to gold if risks escalate further.
Technical Triggers
As indicated in the previous report, gold has rebounded from its key support level near $4,850 (~ Rs.1,50,000) and is now gradually advancing toward the resistance zone around $5,100 (~ Rs.1,60,000). One may consider a buy-on-dips strategy near support levels and book profits on rallies closer to resistance, until a decisive breakout occurs.
Silver has bounced from its support zone of $70–$90 (~ Rs.2,25,000). Prices are now heading toward the resistance levels of $85 (~ Rs.2,68,000) and $90 (~ Rs.2,85,000). Given the high volatility in silver, a buy-on-dips and sell-on-rallies approach remains appropriate within the current trading range.
Support and Resistance
| Metal | Market | Support Level | Resistance Level |
|---|---|---|---|
| Gold | International | $4850 / oz | $5100 / oz |
| Gold | India | ₹150,000 / 10 gm | ₹160,000 / 10 gm |
| Silver | International | $70 / oz | $85 / oz |
| Silver | India | ₹225,000 / kg | ₹265,000 / kg |
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