loader image
Connect with us

National News

Is gold heading for a correction? Augmont weekly blog

Published

on

131 views

Gold has seen a sharp runup, mostly due to worries about the possible economic effects of President Trump’s enacted tariff measures. A correction may be imminent, according to recent price behaviour following an impressive gain.


Extraordinary gold rally

Gold prices have been rising since December 18, which is a result of multiple concurrent worries. The execution of Trump’s tariff policies, inflation pressures, the expanding U.S. fiscal debt, and geopolitical concerns in the Middle East and Ukraine have all influenced market movement. Due to these factors, gold futures have risen by an astounding 17% this month, from about $2620 to $3065.

FED lowers growth forecasts

In last week’s FED meeting, the Fed did not change interest rates, but it did cut its GDP growth prediction from 2.1% to 1.7% and increase its inflation forecast from 2.5% to 2.7%, indicating a greater impact of tariffs. Whether this means higher or lower interest rates than would otherwise be the case depends on whether tariffs are expected to permanently raise inflation rather than just produce a one-time price hike. 

Rate cutting cycle to continue in 2025

The Bank of England, like the Fed, maintained interest rates constant while suggesting that it saw potential for future reduction. China released data for January and February (at the same time due to the Chinese New Year break), with positive surprises in retail and home sales but a persistent decrease in house prices. The government places a high premium on increasing consumer spending, and housing market stability is viewed as a necessary condition for this. 

Trump tariff worries continue.

Investors are concerned about US President Donald Trump’s promised reciprocal tariffs, which he has stated will go into force on April 2. This is in addition to the flat 25% duty on steel and aluminium that has been in place since February. US Senator Steve Daines will travel to China for trade discussions, the first high-level political encounter since President Donald Trump’s return, to restart stalled trade negotiations amid escalating tariff tensions.

Geopolitical Tensions persists

Both Russia and Ukraine increased aerial attacks on Thursday amid truce talks, with Ukraine sending attack drones to target Russia’s Engels airfield in the Saratov region, resulting in a fire and explosions. Furthermore, the Ukrainian Air Force said on Thursday that Russia had launched 171 drones over its territory. Meanwhile, Russian and US officials are set to have discussions on Ukraine in Saudi Arabia on Monday. Israel began heavy bombings over Gaza on Tuesday, shattering a cease-fire with Hamas that had been in effect since late January. Furthermore, Hamas fired three missiles at Israel on Thursday, causing no casualties.

Gold after achieving the $3000 (~Rs 88000) milestone, and extending the rally to $3065 (Rs 89800), Gold is feeling the exhaustion now. It seems prices are topping out in the short term, we could see profit booking and price retracement at these levels. 

Technically, the correction over the past two days could be linked to profit-taking under somewhat overbought conditions on daily charts. However, the lack of follow-through selling should cause bearish traders to exercise care before concluding that the gold price has peaked in the near term.

Using Fibonacci retracement analysis from the recent low of $2845 to the high of $3065 several key support levels emerge. The first level to watch is the 23.6% retracement which occurs at $3012 (~Rs 87500). The next level is the 38.2% retracement at $2980 (~Rs 86600), followed by the 50% retracement at $2955 (~Rs 85850). 

For investors with a longer time horizon, such pullbacks may offer strategic chances as they are common in longer-term bull markets.

Continue Reading
Advertisement
Click to comment
Subscribe
Notify of
guest
0 Comments
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

National News

Aspect Bullion & Refinery to launch 50 gold and silver vending machines nationwide on Akshaya Tritiya

Published

on

2,345 views

Aspect Bullion and Refinery, a division of Aspect Global Ventures, has announced plans to roll out 50 gold and silver vending machines in the next 12-18 months. These state-of-the-art bullion vending machines have been indigenously developed by Aspect Bullion, assuring complete control over the planogram, software backend, and customer interface, reinforcing Aspect Bullion’s commitment to innovation, transparency and consumer trust. Strategically designated to be placed at high-footfall locations such as major malls, airports, temples, airports and more, the vending machines are designed to make purchasing precious metals faster, safer, and more accessible than ever before. Very soon, the brand will open another store in Mumbai and begin exploring franchise opportunities across India.

In the lead-up to Akshaya Tritiya — a festival synonymous with prosperity and gold purchases — Aspect Bullion has unveiled its first bullion vending machine at R City Mall, Ghatkopar, Mumbai. Shoppers can experience this innovative offering firsthand from April 26 to May 4, 2025.

Commenting on the initiative, Aksha Kamboj, Vice President, India Bullion & Jewellers Association (IBJA) and Executive Chairperson, Aspect Global Ventures said, “Gold and silver have always been an important part of India’s culture and traditions. With our vending machine, we are combining tradition with technology to make buying precious metals easier, safer, and more transparent. Our goal is to give people a simple, convenient, and trusted way to invest in gold and silver. We are proud to launch India’s first bullion vending machine, and we believe this will change how consumers buy precious metals, especially during important occasions like Akshaya Tritiya.”

Each vending machine will offer a curated range of gold and silver coins and bars, featuring exclusive designs and premium packaging. Equipped with real-time market pricing, customers can view live rate updates at the point of purchase.

Security has been a top priority: the machines feature biometric authentication, live CCTV surveillance, backend tracking, and robust anti-tampering technology. Purchases can be completed in under three minutes using a variety of payment options, including UPI, Google Pay, and debit/credit cards. A digital and printed receipt is provided instantly, making the process seamless — simply select, pay, collect, and go. This seamless process allows customers to take spot possession of gold and silver coins, making the purchasing experience truly worthwhile

Aspect Bullion’s vending machine rollout marks a significant shift toward a modern, tech-enabled future for bullion retail in India — while staying true to the tradition and trust that gold embodies.

Continue Reading

National News

Gold prices in India, international market dip sharply

Published

on

2,309 views

Gold prices in India today fell sharply just two days ahead of the major gold-buying festival, Akshaya Tritiya 2025, which will be celebrated on April 30 (Wednesday). The gold rate in India at the beginning of this week showed signs of weakness, following the global spot gold price trend.
As of Monday, April 28, the 22-carat gold rate in India slipped massively by Rs. 620 per 10 grams to cost Rs. 89,400 per 10 grams. While the 24-carat gold prices today dropped hugely by Rs. 680 and are currently at Rs. 97,530 per 10 grams. Similarly, the 18-carat gold rate today retails at Rs 73,150, which dropped by Rs 510.

Gold rates in India are mirroring international market movements. US Gold prices dropped on Tuesday as softening trade tensions between the U.S. and its trading partners dulled the metal’s safe-haven appeal, while investors awaited U.S. economic data to assess the Federal Reserve’s policy path.Spot gold was down 0.8% at $3,314.65 an ounce, as of 0619 GMT. U.S. gold futures lost 0.7% to $3,324.20.

Continue Reading

National News

Hari Krishna Exports Mumbai Office celebrates sports day 2025 with energy and smiles

Published

on

2,241 views

Hari Krishna Exports’ Mumbai office came alive with cheers, excitement, and team spirit during the Annual Sports Day 2025.The event was organized to promote better health, stronger unity, and a sense of teamwork among employees.

Esteemed dignitaries from the diamond industry, along with Ghanshyambhai Dholakia and his family, graced the occasion and encouraged everyone with their presence.

The day began on a heartfelt note with the National Anthem, setting a patriotic tone. Soon after, the field lit up with energy as the games began in full swing.
From cricket tournaments and volleyball to ring football, tug-of-war, kabaddi, kho-kho, running races, and box cricket — both male and female employees participated enthusiastically with bright smiles.
It was wonderful to see everyone, from the youngest members to senior leaders, stepping onto the field with equal excitement.

Winners and runners-up were rewarded with cash prizes, diamond jewelry, branded shoes, and sports watches — a token of appreciation from Hari Krishna Exports for their efforts and team spirit.

To beat the summer heat, ORS water stalls were set up, and a delicious lunch was arranged for everyone.The event was even more special as employees’ families were also invited. Their cheers and support added warmth and joy to the entire atmosphere.

Ghanshyam Dholakia, our visionary founder, shared heartfelt words, praising the energy, effort, and passion shown by every member present.He said, “I saw the energy and love for sports in every participant, from the youngest to the oldest. It made me very happy.””My Hari Krishna team is like my family. I will continue to organise such activities every year with this familyEven those who did not win in this competition are winners for me.”

Sports Day 2025 was not just a celebration of fitness and fun but also a beautiful reminder of the togetherness that makes Hari Krishna Exports truly a family.

Continue Reading
Advertisement

Trending

CONTACT US

We would like to hear from you...

GET WHATSAPP NEWS ALERTS

error:
0
Would love your thoughts, please comment.x
()
x