International News
Precious metals are dancing to the tunes of rate cut bets AUGMONT BULLION REPORT
- Gold and silver prices rebounded after dovish remarks from Fed governors rekindled hopes of a U.S. rate cut in December, reaching their highest level in over a week despite a strong dollar.
- Fed Governor Christopher Waller yesterday that the employment market is bad enough to justify another quarter-point rate decrease in December, but further action would rely on an impending flood of data that has been delayed by the government shutdown.
- Waller’s remarks follow New York Fed President John Williams‘ Friday prediction that U.S. interest rates could decline “in the near term.” According to the CME FedWatch Tool, investors are now projecting an 81% chance of a Fed rate drop in December, up from 40% last week.
- Investor attention now shifts to September retail sales and PPI data, which are due later today, as well as jobless claims on Wednesday. These data are anticipated to give investors a better understanding of the US economy’s condition and the future course of Fed interest rates.
Technical Triggers
- Gold has been trading in the range of $4000 (~Rs 121,000) and $4200 (~Rs 127,000). Buy on dips around support and sell on rallies around resistance.
- Silver has been trading in the range of $49 (~Rs 150,000) to $53 (~Rs 160,000). Buy on dips around support and sell on rallies around resistance.
Support and Resistance
| Category | Support Level | Resistance Level |
|---|---|---|
| International Gold | $4000/oz | $4200/oz |
| Indian Gold | ₹121,000 / 10 gm | ₹127,000 / 10 gm |
| International Silver | $49/oz | $53/oz |
| Indian Silver | ₹150,000 / kg | ₹160,000 / kg |
DMCC – the leading international business district that drives the flow of global trade through Dubai – officially launched DMCC FinX today during the 13th Dubai Precious Metals Conference (DPMC) at Atlantis The Palm. Bringing together more than 1,000 senior industry figures, the conference convened global leaders from precious metals, finance, policy and technology to examine the forces reshaping the future of the sector.
Held under the theme “The Future of Precious Metals: Tariffs, Tokenisation and Trade Flows,” DPMC 2025 explored the rapid transformation of global commodities markets as geopolitical realignment, emerging technologies and reconfigured trade corridors redefine how value moves worldwide. Discussions centred on the convergence of precious metals, digital assets and finance; the rise of tokenisation; and Dubai’s accelerating role as a centre of trust, transparency and innovation for the global gold and precious metals industry.
Keynote speeches were delivered by H.E. Dr Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, Ruth Crowell, Chief Executive of the London Bullion Market Association (LBMA) and global financial commentator Grant Williams. The conference featured senior representatives from leading exchanges, refineries, bullion banks and regulatory bodies, including the World Gold Council, the Shanghai Gold Exchange, CME Group and the UAE Ministry of Economy. Panel sessions explored the realignment of global trade flows, the harmonisation of international standards, responsible sourcing in artisanal mining and the evolving role of bullion banks in a multipolar economy.
One of the headline announcements of the day was the formal launch of DMCC FinX – a strategic expansion designed to connect capital market participants, trade finance professionals and fintech innovators with DMCC’s rapidly growing community of more than 26,000 companies. Built on DMCC’s established financial and commodities infrastructure – including the Dubai Gold & Commodities Exchange (DGCX), its central counterparty and clearinghouse the Dubai Commodities Clearing Corporation (DCCC), DMCC Crypto Centre, DMCC Tradeflow platform, and key industry partnerships with regulatory players such as the Dubai Virtual Assets Regulatory Authority (VARA) – DMCC FinX will bridge real-world commerce, capital markets and digital assets, reinforcing Dubai’s position as a global hub where finance and trade intersect
DMCC Launches ‘DMCC FinX’ To bridge institutional capital, trade and technology
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