International News
Precious Metals consolidate at highs AUGMONT BULLION REPORT
The US trade policy continues to be the major focus as gold consolidates around $3350 after a slight decline in the previous session, while Silver sees mild profit-booking at highs.
- To date, President Donald Trump has written to 25 nations’ leaders informing them of higher tariff rates that will go into force on August 1. One of the most recent measures is a 30% import tax on goods from important partners like the EU and Mexico.
- Trump also issued a warning that nations that raise their tariffs in retaliation risk even higher US charges. However, he said that until the new tariffs are put into effect, he is still amenable to more talks with trading partners.
- For hints about the Federal Reserve’s rate path, investors are now waiting for the US CPI report, which is due later today.
Technical Triggers
- Gold continues to trade in the range of $3300 (~Rs 96250) and $3400 (~Rs 98500).
- Silver has given a breakout of its range of $37.5 (~Rs 108,500) and $35.5 (~Rs 105,000). The next target is $39 (~Rs 113,000) and $40 (~Rs 115,000).
Support and Resistance
| Category | Support Level | Resistance Level |
|---|---|---|
| International Gold | $3280/oz | $3400/oz |
| Indian Gold | ₹96,000/10 gm | ₹98,500/10 gm |
| International Silver | $35.5/oz | $40/oz |
| Indian Silver | ₹1,05,000/kg | ₹1,15,000/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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