International News
Precious Metals consolidate as uncertainties diminishes AUGMONT BULLION REPORT
Fed minutes signaled caution on rate cuts, keeping gold near $3400. Traders eye a September cut, while Powell’s Jackson Hole speech may offer clarity. Key gold support: $3340, resistance: $3445.
- The minutes of the most recent Fed meeting revealed that policymakers are still worried about the labor market and inflation, with the majority of voting members believing it is too early to cut interest rates. As a result, gold is stabilizing around $3400.
- An 85% possibility of a rate drop in September is now factored in by traders. The Federal Reserve’s cautious approach may reduce expectations for strong rate cuts throughout the remainder of the year, even though the rate cut in September is virtually guaranteed.
- When Jerome Powell speaks at the annual central bank symposium in Jackson Hole, Wyoming, on Friday, markets will receive more hints about the monetary policy of the Federal Reserve.
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).
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 |
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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