International News
Investors shift from US government bonds to Gold: AUGMONT BULLION REPORT
- As investors looked for safe-haven assets, shifting from government bonds to gold in response to rising fears about the US fiscal outlook, gold climbed toward $3340 to reach a nearly two-week high.
- Following the introduction of a proposed US federal budget that could increase the already significant deficit, risk sentiment declined. This was made worse by Moody’s recent reduction of the US credit rating because of growing debt levels and the Fed’s cautious economic outlook.
- With the continuous turmoil in the Middle East and President Trump’s apparent retreat from mediating the Russia-Ukraine issue, geopolitical tensions further increased the allure of gold.
- In the meantime, Chinese customs statistics revealed that robust demand and the central bank’s issuance of additional import quotas amid the height of US-China trade tensions caused gold imports to soar to an 11-month high of 127.5 metric tonnes in April, up 73% from March.
Technical Triggers
- As gold has changed its momentum and moved higher above $3300 (~Rs 95500), the rally can continue towards $3380 (~Rs 97500), but prices are expected not to sustain beyond that.
- Silver prices are gaining momentum and close to their resistance level of $34(~Rs 99500). We could see a reversal if prices don’t sustain. If prices sustain above these levels, the next target would be $35(~Rs 102,000).
Support and Resistance
| Metal | Support Level | Resistance Level |
|---|---|---|
| International Gold | $3200/oz | $3380/oz |
| Indian Gold | ₹92,000/10 gm | ₹97,500/10 gm |
| International Silver | $32/oz | $34/oz |
| Indian Silver | ₹94,000/kg | ₹99,500/kg |
DiamondBuzz
Diamond Slump forces Debswana to diversify into copper, platinum and solar
Diamond-centric mining models is giving way to broader resource portfolios
Debswana Diamond Company, the 50–50 joint venture between the Botswana government and De Beers, is moving to diversify into copper, platinum and renewable energy as the prolonged downturn in natural diamond demand pressures earnings and forces the industry to rethink its growth strategy.
The company’s board has approved plans to invest in a portfolio of non-diamond projects after revenue fell 46% in 2024, the latest available financial year, highlighting the scale of the downturn in the global diamond market.
The move signals a strategic shift toward commodities with stronger long-term demand fundamentals, particularly copper, which is central to global electrification and energy-transition infrastructure.
Debswana’s diversification reflects a broader industry pivot as diamond producers confront weak consumer demand, rising competition from lab-grown stones and elevated inventories across the supply chain.
The shift is also visible among smaller exploration companies. Botswana Diamonds recently rebranded as Botswana Minerals, signalling its own strategic focus on copper exploration rather than diamonds.
Together, these moves underscore a growing consensus across the sector: the era of diamond-centric mining models is giving way to broader resource portfolios anchored in energy-transition metals.
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