Connect with us

International News

Payrolls Shock Reshapes Fed Bets, Sends Bullion Sharply Higher AUGMONT BULLION REPORT

Bullion’s Strongest Week: Gold Up 6.6% To ~$4,350; Silver Surges Nearly 7% To $65.05

Published

on

Bullion had one of its strongest weeks of the year. Spot gold climbed roughly 6.6% to settle near $4,350/oz, with COMEX December futures touching an intraday high above $4,410 before easing into the close. Silver outperformed on a percentage basis, with spot prices vaulting from the high-$50s to an intraday peak of $65.05/oz, a gain of nearly 7%.

The U.S. economy lost 23,000 jobs in July, the Labor Department said, compared with economists’ expectations for an increase of 80,000 jobs, according to a Reuters poll. The unemployment rate fell to 4.1% even as the labor participation rate dropped to a near five-and-a-half-year low of 61.4%. Few expected non-farm payrolls to turn negative, or that June’s numbers would see such a steep downward revision.

The market has likely pushed the expected Fed hike from September to October or December, Wizman said, noting that weak labor data tends to delay rate-hike expectations rather than accelerate them. ADP’s weekly employment data had already pointed to a hiring slowdown earlier in the week, setting up the payrolls shock. With CPI, PPI, and University of Michigan inflation expectations due shortly, markets remain highly sensitive to incoming data, and positioning into next week is expected to stay volatile. Fed funds futures traders are now pricing in 44% odds of a rate hike at the September meeting, down from 55% before the data.

Safe-haven flows got extra support from unresolved tensions around the Strait of Hormuz. Reports suggested Iran and Oman were negotiating an arrangement to ease shipping disruptions, though no final agreement was confirmed, and crude oil pulled back from recent highs on partial de-escalation optimism. Without a durable resolution, a geopolitical risk premium stayed embedded in both gold and silver through the week, while a coordinated US-Japan currency intervention to steady the yen added another layer of cross-asset volatility that spilled into precious metals positioning.

Domestic sentiment stayed constructive heading into the festive and wedding season window that opens in August. Feedback from recent trade events pointed to improved restocking by jewellers, though record rupee prices continue to push consumers toward lighter-weight, lower-carat pieces and value-conscious purchases. Investment demand through coins, bars, and gold ETFs continued to outpace jewellery offtake, in line with the broader shift in Indian consumer behavior toward gold as a financial-security instrument rather than a purely occasion-led purchase.

With US CPI, PPI, jobless claims, and Michigan sentiment data on the calendar, volatility is likely to stay elevated. Gold holding above the $4,200–4,350 zone will be key to sustaining the advance toward record territory, while silver’s move above $63 keeps the door open for a retest of the January highs if the dollar stays under pressure.

Gold and silver appear to have formed a base and broken out after a month-long consolidation, so a 4–5% upside move looks likely this week. On MCX, Rs 1,40,000 is the immediate support band for gold, with silver support near Rs 2,15,000–2,20,000. A confirmed Fed dovish pivot, alongside any durable Strait of Hormuz resolution, will be the swing factors for direction into the following week.

Continue Reading
Advertisement JewelBuzz Banner
Click to comment
Subscribe
Notify of
guest
0 Comments
Oldest
Newest Most Voted

DiamondBuzz

Exceptional Platinum Jewelry Designs Win AGTA Spectrum Awards Competition

More than 60 platinum jewellery entries competed for top honours, recognising exceptional craftsmanship, innovative designs and the versatility of platinum across coloured gemstones and pearl jewellery.

Published

on

Platinum Guild International (PGI), in partnership with the American Gem Trade Association (AGTA), is pleased to announce the Platinum Honors winners of the 2026 AGTA Spectrum Awards.

More than 60 platinum jewelry entries were submitted to the Platinum Honors category, which recognizes outstanding uses of platinum in colored gemstone and natural or cultured pearl jewelry across multiple categories, from Evening Wear to Engagement Rings. PGI also traditionally presents an award for Best Use of Platinum and Color.

Stacked from 22 images. Method=B (R=3,S=3)

The AGTA Spectrum Awards competition was held at the Omni Frisco Hotel at the Star in Dallas, where Jenny Luker, President, PGI USA, judged the Platinum Honors category.

“The AGTA Spectrum Awards bring together an extraordinary range of platinum jewelry, and the level of design innovation, technical execution, and artistry is exceptional,” said Luker. “It’s exciting to see so many talented designers exploring the material in different ways, creating intricate, distinctive pieces that showcase the versatility of platinum.”

AGTA CEO John W. Ford Sr. thanked PGI for its sponsorship of the Spectrum Awards and extended his congratulations to the Platinum Honors winners. “Receiving a Platinum Honors distinction from PGI is one of the industry’s highest achievements,” he said. “We were happy to see Platinum so well represented among the AGTA Spectrum entries, which increased by 21% this year.”

Platinum’s potential for design innovation and technical accomplishment was exemplified by several of this year’s AGTA Spectrum Award winners.

The Best of Show award and 1st Place in Classical Wear was awarded to “Can’t Look Away,” a necklace by Lezlie Slavens of Luxe Fine Jewelry and collaborators. The design features a carved Paraiba tourmaline backed in platinum, suspended from a diamond-accented platinum chain and illuminated by a magnet-activated LED light source.

The Art Deco-inspired “Horus Egyptian Revival” bracelet by Joseph Dardashti, in Platinum with Rubies, Sapphires, Emeralds, Diamonds, and Onyx, won 1st Place in the Spectrum Awards’ Evening Wear category and also received a Platinum Honors distinction in the same category.

Jeffrey Bilgore’s Mahenge Spinel and Diamond “Neuvelle Moi et Toi Forever” Platinum ring received the Stuller Color of the Year Award, a new category honoring exceptional interpretations of Stuller’s “Signature Red”, and won 2nd Place in the Spectrum Awards’ Classical category.

The honour of 1st Place in the Bridal category went to Niveet Nagpal of Omi Gems, Inc. for his Platinum ring featuring a 5.32 ct. Paraiba Tourmaline, accented by Tourmaline (1.05 ctw.) and Diamonds (0.69 ctw.).

New entrant Shelby Lichtenstein was awarded 1st Place in Engagement Rings with her Platinum “Something New, Something Blue” ring, featuring a 4.50 ct. blue emerald-cut Zircon accented by Diamonds (0.26 ctw.).

Stacked from 15 images. Method=B (R=3,S=3)

“Because of platinum’s durability, strength, and tensile properties, designers can achieve things that might not be possible with other metals,” said Luker. “Whether it’s intricate micro pavé work or delicate prongs, platinum allows for exceptional precision while ensuring that gemstones remain secure.”

Across all categories of the Spectrum Awards competition, noteworthy platinum jewelry trends included bezel settings in engagement rings, designs that paired platinum with moonstones for a dreamy, elegant white-on-white effect, and brooches for both men and women that incorporated multiple gemstone types in an array of cuts and sizes.

“The level of design this year was incredible,” said Luker. “I was particularly impressed by the innovation and execution. Platinum plays such a wonderful supporting role to gemstones, and that relationship has endured—and will endure—forever.”

AGTA Spectrum – Platinum Guild International (PGI) Platinum Honors

Best Use of Platinum & Color

Stacked from 13 images. Method=B (R=3,S=3)

Roland Krainz, Krainz Creations – Platinum “Ambrosia” necklace featuring Opals accented by Diamonds, Emeralds, Sapphires, and tsavorite Garnets (140.80 ctw.).

Best Use of Platinum Crown

Ricardo Basta, E. Eichberg, Inc. – Platinum “Everest” ring featuring a 9.70 ct. cushion-cut Tanzanite accented by Diamonds (1.67 ctw.).

Bridal Wear

Jeffrey Bilgore, Jeffrey Bilgore, LLC – Platinum “JuneStones for June Brides” necklace featuring a 27.02 ct. blue-sheen oval Moonstone accented by a 7.95 ct. natural conch Pearl, Alexandrites (3.23 ctw.), and Diamonds (10.36 ctw.).

Business/Day Wear

Gabriel Angulo, Pompos Jewelry Corporation – Platinum stretchable ring with titanium springs featuring a 5.42 ct. natural oval cabochon black Opal accented by Diamonds (5.15 ctw.) and Sapphires (3.28 ctw.).

Classical

Eve Streicker, Original Eve Designs, in collaboration with Rohan Agrawal – Platinum “Zellige” brooch featuring marquise-shaped Aquamarines (8.40 ctw.) accented by Diamonds (0.28 ctw.).

Engagement Rings

Underwood Design Team, Underwood’s Fine Jewelers – Platinum ring featuring a 3.66 ct. cushion-shaped Sapphire accented by Diamonds (1.22 ctw.).

Stacked from 22 images. Method=B (R=8,S=4)

Evening Wear

Joseph Dardashti, Joseph Dardashti, Ltd. – Platinum and 18K yellow gold “Horus Egyptian Revival” bracelet featuring Rubies (5.90 ctw.), blue Sapphires (3.75 ctw.), and Emeralds (0.70 ctw.) accented by Diamonds (6.50 ctw.) and Onyx (0.75 ctw.).

Innovative Design

Cari Goldman, Pieces by Cari, LLC, in collaboration with Alexsey Yarnikh – Platinum “Love Spun” ring featuring marquise crystal Opals (2.24 ctw.) accented by Diamonds (1.0 ctw.).

Men’s Wear

Ricardo Basta, E. Eichberg, Inc. – Platinum “Siren’s Relic” ring featuring a 5.35 ct. emerald-cut Zoisite.

These highlights offer a glimpse of the exceptional work recognized in the 2026 AGTA Spectrum & Cutting Edge Awards. We invite you to explore the complete collection of winning entries at AGTA.org and discover the artistry behind each award.

Many of the winning pieces will be on display during AGTA GemFair Tucson, January 31–February 4, 2027, at the Tucson Convention Center. For AGTA members and the wider trade, it is an opportunity to appreciate the gems and craftsmanship up close, connect with the community behind them and find inspiration for what comes next.

Continue Reading

Trending

JewelBuzz is Asia’s First Digital Jewellery Media & India’s No.1 B2B Jewellery Magazine, published by AM Media House. Since 2016, we’ve been the trusted source for jewellery news, market trends, trade insights, exhibitions, podcasts, and brand stories, connecting jewellers, retailers, and industry professionals worldwide.

We would like to hear from you...

GET WHATSAPP NEWS ALERTS

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