International News
Ongoing global concerns contribute to gold’s more than 35% year-to-date increase AUGMONT BULLION REPORT
President Trump’s decision to dismiss Fed Governor Lisa Cook, ongoing global concerns, and anticipation of a September interest-rate cut have all contributed to gold’s more than 35% year-to-date increase on safe-haven demand.
As investors considered causes of uncertainty, such as President Donald Trump’s efforts to fire Fed Governor Lisa Cook and an appeals court that upheld a decision that the White House’s so-called reciprocal tariffs were unlawful, the action was taken.
Additionally, Wall Street locked in bets that the Fed would lower interest rates at its upcoming September meeting after the release of inflation data related to personal consumption expenditures that was consistent with forecasts. When borrowing costs decline, gold tends to appreciate because it becomes comparatively more attractive than interest-bearing securities like bonds.
Technical Triggers
If macroeconomic risks remain elevated, gold prices could feasibly target $3700 (~Rs 1.10 lakh) in the next few weeks in September.
Silver, after breaking $40 resistance, can continue its northward journey towards $43 (~Rs 1.30 lakh) in the next few weeks in September.
Support and Resistance
| Commodity | Support Level | Resistance Level |
|---|---|---|
| International Gold | $3500/oz | $3600/oz |
| Indian Gold | ₹103,500 / 10 gm | ₹106,000 / 10 gm |
| International Silver | $40.40/oz | $42/oz |
| Indian Silver | ₹123,000 / kg | ₹126,000 / kg |
The LVMH-owned jeweler has appointed David Ponzo to the newly created role of Deputy CEO and promoted Thierry Vasseur to Executive VP to spearhead global retail and product strategy.
The LVMH-owned jeweler has appointed David Ponzo to the newly created role of Deputy CEO and promoted Thierry Vasseur to Executive VP to spearhead global retail and product strategy.
Tiffany & Co. has expanded its executive team by appointing David Ponzo as Deputy Chief Executive Officer. Ponzo, who joins from Louis Vuitton where he served as Chief Commercial Officer, will now oversee Tiffany’s global retail operations, corporate commercial organizations, and the high-jewelry product division. He steps into responsibilities previously managed by former CCO Gavin Haig.
In a simultaneous move, the house has promoted Thierry Vasseur to Executive Vice President of Jewelry, High Jewelry, Home, and Accessories. In this expanded capacity, Vasseur will lead the brand’s global product marketing and merchandising strategies, further aligning Tiffany’s creative output with its ambitious commercial goals.
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National News4 hours agoBakul Limbasiya Receives Prestigious APO National Award for LGD Pioneering
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