International News
Precious Metals consolidate ahead of Powell remarks AUGMONT BULLION REPORT
Gold and silver trade range-bound as markets await Powell’s Jackson Hole speech for policy cues. With a 75% chance of a September cut, geopolitical tensions over Russia-Ukraine dampen optimism.
- Gold and silver prices are staying within a narrow range as traders await significant movements in anticipation of Fed Chair Powell’s Jackson Hole speech, which could provide clues about the direction of US policy.
- Despite indications of a weakening job market and inflation that is still above goal and susceptible to pressures from tariffs, Fed policymakers on Thursday showed scant support for a rate decrease next month, leaving markets looking to Powell’s speech for clarity.
- With markets pricing in a 75% chance of a quarter-point cut, investors continue to view policy easing as a possibility in September.
- Geopolitical optimism for a possible peace agreement between Russia and Ukraine waned when reports surfaced that Russia had launched its biggest drone and missile attack on Ukraine in over a month. Moscow accused Kyiv of rejecting the prospect of a “lasting and fair settlement.
Technical Triggers
- Gold seems to continue its downward trajectory after sustaining below $3400. Next support is $3340 (Rs 98500), while $3445 (Rs 100,500) remains the resistance.
- Silver prices are expected to consolidate in a range of $37(Rs 110,500) to $39 (Rs 115,000). Buy on dips and sell on rallies.
Support and Resistance
| Metal | Market | Support Level | Resistance Level |
|---|---|---|---|
| Gold | International | $3340/oz | $3445/oz |
| Indian | ₹98,500 / 10 gm | ₹100,500 / 10 gm | |
| Silver | International | $37/oz | $39/oz |
| Indian | ₹110,500 / kg | ₹115,000 / kg |
International News
US Holiday Shopping Expected To Top $1 Trillion For The First Time: NRF
While Overall Buying Power Remains High, Ongoing Inflation and Rising Household Costs Mean Some Families Will Have To Watch Their Spending More Carefully Than Others
The National Retail Federation (NRF) predicts Americans will spend $1.01 trillion on holiday shopping in November and December. That is a 4.2% jump from $972 billion last year.
NRF said its forecast was based on economic modeling that incorporates consumer spending, employment, wages and historical retail sales data. It excludes automobile, gasoline and restaurant sales
Extra Hiring: To handle the surge in shoppers, stores plan to hire 325,000 to 375,000 temporary holiday workers.
Mixed Budget Impact: Higher gas prices and inflation could still strain some family budgets, affecting low- and high-income shoppers differently.
Retailers expect a strong shopping season because people continue to make holiday spending a priority.
Store owners are ready to attract shoppers by offering competitive prices, deals, and choices for every budget.
While overall buying power remains high, ongoing inflation and rising household costs mean some families will have to watch their spending more carefully than others.
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US Holiday Shopping Expected To Top $1 Trillion For The First Time: NRF
Belgian Consul General H. E. Mr. Pierre Stverlynck Graces BDB Annual Day
Limelight Lab Grown Diamonds Crosses 100 Stores Milestone This Dussehra: Targets 200 In 2027
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International News13 hours agoUS Holiday Shopping Expected To Top $1 Trillion For The First Time: NRF
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National News7 hours agoBelgian Consul General H. E. Mr. Pierre Stverlynck Graces BDB Annual Day
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National News8 hours agoLimelight Lab Grown Diamonds Crosses 100 Stores Milestone This Dussehra: Targets 200 In 2027
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New Premises9 hours agoJoyalukkas Opens Its 2nd Bengaluru Showroom in Jayanagar
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