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 |
International News
Significant Upside Trajectory In The Metals Sector
Precious Metals Surge on Geopolitical Optimism as Gold and Silver Rally, While Crude Oil Faces Downward Pressure Amid Ongoing US–Iran Developments
Gold rates and silver rates in India will be driven by global trends, as the Indian market is closed. Trading in commodities, including gold and silver, will be closed for half a day on April 14 at MCX.
We are seeing a significant upside trajectory in the metals sector, driven by recent geopolitical synergies:
- Gold Asset Class: Spot prices have achieved a value-add recovery, scaling past the $4,760/oz threshold.
- Silver Asset Class: Currently experiencing a high-growth phase, surging approximately 2% to reach a target density near $77/oz.
- Market Bandwidth: While the MCX interface is currently undergoing a scheduled half-day service window on April 14,
- Energy Sector Headwinds
Conversely, the energy vertical is facing downward scalability issues:
- Crude Oil Index: Both US WTI and Brent Crude are failing to gain leverage, currently underperforming by 2% and hovering around the $98/bbl mark.
Geopolitical Synergy & Risk Mitigation
The recent bullish momentum in precious metals is a direct byproduct of strategic bilateral engagement between the US and Iran. Key stakeholders are currently deep-diving into negotiations to extend the current truce framework.
- US Perspective: President Trump has acknowledged a proactive outreach from Tehran following the implementation of a naval blockade.
- Iranian Alignment: President Pezeshkian has signaled readiness to move the needle on peace discussions, provided all deliverables remain within the compliance framework of international regulations.
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