International News
Precious Metals consolidate after FED rate cut and US-China trade deal AUGMONT BULLION REPORT
- A US-China trade agreement and waning expectations of rate cuts by the Federal Reserve are driving the consolidation of gold and silver prices, which are headed for a second consecutive weekly decline.
- For the second time this year, the U.S. central bank lowered interest rates by a quarter of a percentage point on Wednesday, bringing the benchmark overnight rate between 3.75% and 4.00%. However, following comments by Fed Chair Jerome Powell, traders reduced their bets that the Fed would lower rates once more at its upcoming policy meeting in December.
- President Trump reduced fentanyl duties to 10%, and Beijing promised to reduce production and resume US soybean purchases as part of a one-year trade deal on rare earths and key minerals.
- Moreover, Kazakhstan led the world’s central banks in purchasing 220 tons of gold in Q3, up 28% from the previous quarter, while Brazil made its first purchase in more than four years.
Technical Triggers
- Gold prices are expected to consolidate in the range of $3900 (~Rs 117,500) to $4060 (~ Rs 122,000) for the next few days, so buy on dips and sell on rallies.
- Silver prices are expected to consolidate in the range of 45.5(~Rs 140,000) and $49 (~Rs 150,000) for the next few days, so buy on dips and sell on rallies.
Support and Resistance
| Metal | Market | Support Level | Resistance Level |
|---|---|---|---|
| Gold | International | $3900 / oz | $4060 / oz |
| Indian | ₹117,500 / 10 gm | ₹122,000 / 10 gm | |
| Silver | International | $45.5 / oz | $49 / oz |
| Indian | ₹140,000 / kg | ₹150,000 / 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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