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 |
Luxury retail veteran and former Christie’s Asia Pacific president to lead the high-end e-commerce platform as Michael Kliger transitions to head its parent company, LuxExperience.
Mytheresa has appointed Francis Belin as its new CEO, with his tenure beginning on January 1, 2026. Belin, who brings extensive experience from the luxury and jewellery sectors, will take over from Michael Kliger, who is set to become CEO of LuxExperience, Mytheresa’s parent company. LuxExperience expanded its portfolio last year by acquiring luxury platforms Net-a-Porter, Porter, and Yoox.
Belin joins Mytheresa following a nine-year stint at Christie’s, where he most recently served as President of Asia Pacific until October. His earlier roles include senior vice president for Swarovski Asia Pacific, managing director for Jaeger-LeCoultre in Japan, and management consultant at McKinsey & Company. He has also served on the boards of Enzo Jewelry and Ben Thanh Jewelry.
In a related leadership update, Mytheresa’s chief marketing and customer officer, Amber Pepper, was recently appointed CEO of the Natural Diamond Council.
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