International News
Indecisive movement continues in precious metals-AUGMONT BULLION REPORT
● A weaker US currency and falling Treasury yields helped gold bounce back to $3350. However, the rationale against rate cuts was questioned by June’s low consumer confidence, which sparked worries about the labour market and trade policy.
● Despite political pressure, Fed Chair Jerome Powell remained cautious during his second day of testimony, stating that the Fed can control inflation brought on by tariffs but is not yet prepared to lower rates.
● To curtail Tehran’s nuclear program and ease Middle East tensions, US and Iranian officials are scheduled to meet next week. This comes as geopolitical tensions are beginning to ease. Although the ceasefire between Israel and Iran seemed to be holding, questions remained about how long it would last.
Technical Triggers
● If gold prices hold below $3330 (~Rs 97000), they may retrace to $3275 (~Rs 96000). However, it may go towards $3340 (~Rs 99000) if prices continue to rise beyond $3385 (~Rs 98000).
● For the bull trend to continue, prices must maintain the support of $35.50 (~ Rs 105,300). The next downward level, if this support is breached, is $34.50 (~Rs 104,000). Prices may increase to $36.75 (around Rs 107,500) on the upside.
Support and Resistance
| Metal | Market | Support Level | Resistance Level |
|---|---|---|---|
| Gold | International | $3275/oz | $3420/oz |
| Indian | ₹96,000/10 gm | ₹1,00,000/10 gm | |
| Silver | International | $35.50/oz | $36.75/oz |
| Indian | ₹1,05,000/kg | ₹1,07,500/kg |
International News
GJEPC Promotes Key Trade Events At IGI Dubai Event
The Dubai Event Created Opportunities For Participating Indian Exporters To Connect Directly With Potential Buyers.
GJEPC stepped up its international buyer outreach for IIJS Bharat – Signature 2027, IGJS Jaipur and IJEX at an industry event organised by the International Gemological Institute (IGI) in Dubai.
Held at the Almas Tower Ballroom in Jumeirah Lake Towers, the IGI Ornamental QC Seminar brought together an audience of more than 70 jewellers, with leading retailers including Jawhara, Joyalukkas, Tajvi, Vinsmera, La Marquise, Bhima and Cara among the expected participants.
Ashish Sakhardande, Head – IJEX, GJEPC, represented the Council and delivered a presentation on its upcoming exhibitions and initiatives, placing particular emphasis on IIJS Bharat – Signature 2027, IGJS Jaipur and IJEX, highlighting its new features and inviting UAE buyers to register for the Mumbai and Jaipur shows.
The UAE remains an important market for Indian jewellery exporters, making direct engagement with retailers and jewellery companies a key part of the buyer mobilisation strategy.
The Dubai event created opportunities for participating Indian exporters to connect directly with potential buyers. Business meetings and networking interactions were facilitated with several UAE-based companies, allowing exporters participating through IJEX to develop new commercial contacts.
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