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
Gold and Silver Slip As Middle East Tensions Flare Again- AUGMONT BULLION REPORT
Gold’s Rebound From Its Recent Low Of $3,942 (~Rs 1,40,600) to $4,200 (~Rs 1,48,000) Happened Very Quickly, So A Pullback To The $4,080–4,100 Range (~Rs 1,44,000) Wouldn’t Be Surprising
Gold and silver are trading on a weaker footing, as worries about inflation and higher interest rates resurfaced after fresh US strikes on Iran pushed oil prices and the dollar higher, just ahead of the Fed’s June meeting minutes. This fresh flare-up put the interim US-Iran peace deal at risk and sent oil prices climbing, reviving inflation concerns and boosting the case for another rate hike.
- Geopolitical Tensions – The US military launched a new round of strikes on Iran on Tuesday and pulled Iran’s licence to sell oil, after three tankers were hit by projectiles in the Strait of Hormuz. US oil prices jumped, Treasury yields moved higher, and the dollar held near its strongest levels of the week against most currencies, as the strikes piled pressure on an already shaky ceasefire.
- Macro-Economic Signals – Investors were also waiting on the minutes from the Fed’s June 16-17 meeting, due later today, for fresh clues on where interest rates are headed under Chair Kevin Warsh. Markets have now pushed up the odds of a September rate hike to over 63%, up from around 57% just a day earlier.
Technical Triggers
- Gold’s rebound from its recent low of $3,942 (~Rs 1,40,600) to $4,200 (~Rs 1,48,000) happened very quickly, so a pullback to the $4,080–4,100 range (~Rs 1,44,000) wouldn’t be surprising before the rally resumes toward $4,350 (~Rs 1,53,500).
- Silver could see a similar pause, dipping toward $59 (~Rs 2,30,000) before pushing higher again toward the $70–71 zone (~Rs 2,52,000).
Support and Resistance
| International Gold Support Level International Gold Resistance Level Domestic Gold Support Level Domestic Gold Resistance Level | : $3960/oz : $4250/oz : Rs 140,000/10 gm : Rs 150,000/10 gm |
| International Silver Support Level International Silver Resistance Level Domestic Silver Support Level Domestic Silver Resistance Level | : $55/oz : $65/oz : Rs 210,000/kg : Rs 245,000/kg |
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