International News
Hopes for New Government data lifts precious metals prices AUGMONT BULLION REPORT
- Gold and Silver continued to rise, reaching a close to three-week high, supported by indications that the U.S. government shutdown was coming to an end and rising anticipation of another December interest rate cut by the U.S. Federal Reserve.
- Late on Monday, the U.S. Senate ended the longest shutdown with a compromise that would return federal funds to the United States. It would include three full-year appropriations measures and would finance the government until January 30 if the Senate passes the bill. It would then need to be approved by the House of Representatives and sent to President Donald Trump, a process that might take several days.
- Amid concerns about the economic consequences of the longest-ever U.S. government shutdown, consumer sentiment in the United States declined to a 3-1/2-year low in early November.
Technical Triggers
- Gold prices have achieved the target of $4150 (~Rs 125,000). Prices are expected to consolidate here for a while, before moving higher.
- Silver prices have achieved the target of $50.80 (~Rs 155,000). Prices are expected to consolidate here for a while, before moving higher.
Support and Resistance
| Category | Support Level | Resistance Level |
|---|---|---|
| International Gold | $4000/oz | $4200/oz |
| Indian Gold | ₹122,000/10 gm | ₹126,000/10 gm |
| International Silver | $48/oz | $51/oz |
| Indian Silver | ₹149,000/kg | ₹156,000/kg |
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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