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MCX Gold and Silver Face Volatility Amid Geopolitical Shifts

While the Current Conflict is Unlikely to Durably Impair Global Economic Growth, Investment Demand for Gold is Expected to Strengthen as Expectations for Further U.S. Monetary Easing Return

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The Multi Commodity Exchange (MCX) observed a cautious start to Tuesday’s trading session as precious metals reacted to stalled diplomatic negotiations and a pivotal week for global monetary policy. Gold and silver futures faced downward pressure as market participants recalibrated their positions ahead of several major central bank announcements.

In domestic trading, silver experienced the most significant adjustment, while gold maintained a consolidated range:

  • MCX Silver (May 2026 Delivery): Declined by Rs 1,334 (0.5%) to Rs 2,40,490 per kilogram. This follows a substantial drop of Rs 2,450 in the previous session.
  • MCX Gold (June 2026 Delivery): Remained largely unchanged, trading at Rs 1,51,555 per 10 grams, after a nearly Rs 1,000 decline in the prior session.
  • Global Spot Markets: In contrast to domestic futures, spot silver rose marginally by 0.5% to $75.91 per ounce, while Platinum gained 0.7% to reach $1,997.22.

The current market sentiment is heavily influenced by a shift in diplomatic relations between the United States and Iran. Hopes for a de-escalation in the Middle East faded over the weekend following the cancellation of a high-level U.S. envoy visit to Islamabad.

Simultaneously, investors are turning their attention to the following key economic milestones:

  1. Federal Reserve Policy: The U.S. Federal Reserve is widely expected to maintain current interest rates in its Wednesday announcement.
  2. Leadership Transition: The U.S. Senate Banking Committee is scheduled to move forward with the nomination of Kevin Warsh for Federal Reserve Chair on Wednesday.

Global Central Bank Watch: Market participants are monitoring the Bank of Japan, the European Central Bank, and the Bank of England for signals on how regional conflicts may impact the global interest rate outlook

Expert Analysis and Long-Term Outlook

Despite the short-term pullback, analysts maintain a bullish outlook for the remainder of 2026. While the current conflict is unlikely to durably impair global economic growth, investment demand for gold is expected to strengthen as expectations for further U.S. monetary easing return. The core pillars of the gold rally—including sustained central bank acquisitions, U.S. debt concerns, and currency debasement worries—remain firmly in place.

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Augmont Strengthens ‘Recycle With Resilience’ Campaign To Promote Transparent Gold Recycling Across India

With 114 Gold For All Stores Currently Operational, The Company Is Creating Accessible Touchpoints for Consumers To Evaluate, Recycle, and Monetise Their Gold Through Transparent and Organised Channels

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Augmont, India’s leading gold platform, has launched the next phase of its “Recycle with Resilience” campaign to encourage consumers to unlock greater value from their dormant gold through organised and transparent recycling channels.

As part of the initiative, Augmont has introduced its AI-powered Gold Purity Evaluation Machine in Chennai to help address one of the key concerns consumers face while recycling gold, which is the lack of transparency in purity assessment and valuation. The initiative aims to build trust and encourage wider participation in organised gold recycling.

Gold recycling continues to gain momentum in India. While the country imported approximately $72.4 billion worth of gold in FY26, recycled gold contributed an estimated 125–150 tonnes in 2025 and is expected to increase to 200–250 tonnes in 2026. With household gold reserves estimated at nearly 30,000 tonnes, organised recycling presents a significant opportunity to improve resource efficiency and reduce reliance on imports.

Augmont is further enabling consumer participation in gold recycling through its growing network of Gold For All Centres across multiple states. With 114 Gold For All stores currently operational, the company is creating accessible touchpoints for consumers to evaluate, recycle, and monetise their gold through transparent and organised channels. Over the coming months, Augmont plans to expand this network further to enable greater recycling of old gold and make the process more convenient and accessible for consumers across key markets.

Commenting on the campaign, Ketan Kothari, Whole-Time Director, Augmont, said:

“India has one of the largest household gold reserves globally, yet a significant portion remains idle. Through our ‘Recycle with Resilience’ campaign, we aim to encourage consumers to view gold not just as an asset to store, but as a resource that can be responsibly brought back into the ecosystem.

Transparency remains central to increasing consumer confidence in gold recycling. By leveraging technology-led purity evaluation and enabling fair valuation, we aim to make organised gold recycling more accessible, trusted and consumer-friendly. Through our expanding Gold For All Centre network and technology-enabled infrastructure, we are committed to creating a seamless recycling experience for consumers across the country.”

Over the next 12 months, Augmont plans to expand technology-enabled gold appraisal centres across select markets while continuing consumer education efforts around the economic and environmental benefits of gold recycling.

Through this campaign, Augmont aims to strengthen confidence in organized gold recycling and contribute towards building a more efficient and self-reliant gold ecosystem in India.

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