International News
Precious metal consolidates after record peak, US CPI data in focus AUGMONT BULLION REPORT
- As market risks have escalated, such as inflationary worries, mounting public debt, and weakening U.S. growth, gold prices have reached all-time highs.
- Exchange-traded fund flows, especially in Asia, have been a swing factor for gold prices. Further price increases may be supported by indications that the flow momentum is increasing.
- As the Middle East tensions erupted, Poland claimed to have shot down Russian drones that had violated its airspace during a major attack in western Ukraine, and US President Donald Trump urged the EU to impose tariffs of up to 100% on China and India to pressure Russia over the war in Ukraine. Geopolitical risks also supported demand for safe-haven assets.
Technical Triggers
- After achieving the target of $3700 (~Rs 110,000) in gold, we can see some profit-booking up to $3600 (~Rs 108,000), if prices fall below $3655 (~Rs 108,800). Meanwhile, if the uptrend continues above $3700 (~Rs 110,000), the next target would be $3800 (~Rs 113,500).
- Silver Nov Future prices have been consolidating in the range of $41 (~Rs 123,000) and $42 (~Rs 126,000) for the past few days. Either side – breakout or breakdown will make a 2-3% sharp move.
Support and Resistance
| Category | Support Level | Resistance Level |
|---|---|---|
| International Gold | $3600/oz | $3700/oz |
| Indian Gold | ₹108,000 / 10 gm | ₹110,000 / 10 gm |
| International Silver | $40/oz | $43/oz |
| Indian Silver | ₹120,000 / kg | ₹130,000 / kg |
DiamondBuzz
Diamond Slump forces Debswana to diversify into copper, platinum and solar
Diamond-centric mining models is giving way to broader resource portfolios
Debswana Diamond Company, the 50–50 joint venture between the Botswana government and De Beers, is moving to diversify into copper, platinum and renewable energy as the prolonged downturn in natural diamond demand pressures earnings and forces the industry to rethink its growth strategy.
The company’s board has approved plans to invest in a portfolio of non-diamond projects after revenue fell 46% in 2024, the latest available financial year, highlighting the scale of the downturn in the global diamond market.
The move signals a strategic shift toward commodities with stronger long-term demand fundamentals, particularly copper, which is central to global electrification and energy-transition infrastructure.
Debswana’s diversification reflects a broader industry pivot as diamond producers confront weak consumer demand, rising competition from lab-grown stones and elevated inventories across the supply chain.
The shift is also visible among smaller exploration companies. Botswana Diamonds recently rebranded as Botswana Minerals, signalling its own strategic focus on copper exploration rather than diamonds.
Together, these moves underscore a growing consensus across the sector: the era of diamond-centric mining models is giving way to broader resource portfolios anchored in energy-transition metals.
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