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Precious Metals continue Santa rally AUGMONT BULLION REPORT

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  • Gold prices have risen to $4550 (up 72% year on year) and silver to $72 (up 140% year on year), setting new records, fueled by anticipation of further Fed easing and increased geopolitical tensions.
  • Although third-quarter GDP grew at a healthy 4.3% annualised pace, lower consumer confidence in December and unchanged manufacturing output in November have contributed to the assumption that monetary policy may be softened in the coming months.
  • The war between Israel and Iran, as well as rising tensions between the United States and Venezuela, have boosted safe-haven flows into gold. Furthermore, US Q3 GDP data fails to strengthen the US Dollar despite increased bets on two Fed rate cuts in 2026, which supports the non-yielding bullion.
  • Trump stated that the next Fed chair will be someone who believes in “significantly lower interest rates”. He stated that applicants who disagreed with his ideas would be excluded from consideration for the Fed’s top job. Investors and politicians are likely to be concerned about the Federal Reserve’s independence following these comments.

Technical Triggers        

  • As suggested, Gold has touched the target resistance of $4500 (~Rs 138,000). Gold broke its previous high of $4400, after two months of consolidation between $3935 and $4400, so this rally is expected to extend further towards $4575(~Rs 140,000) and $5000(~Rs 150,000) in a few weeks.
  • As suggested, Silver has touched the second target resistance of $72(~Rs 223,000). I think it’s time to book profits, as the rally seems overdone. We can see a price retracement up to $68 (~Rs 210,000). But, if Silver continues its bullish momentum, the next target is $75 (Rs 235,000).

Support and Resistance

MetalMarketSupport LevelResistance Level
GoldInternational$4370 / oz$4575 / oz
GoldIndia₹135,000 / 10 gm₹140,000 / 10 gm
SilverInternational$67.5 / oz$75 / oz
SilverIndia₹209,000 / kg₹235,000 / kg
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International News

Signet The Biggest-Grossing Jeweller In North America By Far In 2025

Luxury Groups, Specialist Watch Retailers, and Branded Jewellery Players Are Steadily Gaining Ground Against Traditional Mass-Market and Department-Store Operators

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National Jeweler’s latest State of the Majors report highlights a shifting leaderboard among North America’s “$100M supersellers,” which grew from 36 to 37 qualifying retailers in 2025. While Signet Group comfortably defended its first-place crown—generating $6.36 billion across 2,329 stores—the rest of the top ten saw major disruption. Signet’s total watch and jewelry sales for the year were $6.36 billion according to the report and had 2,329 outlets. Second-placed Richemont, the Swiss luxury conglomerate, sold  $3.62 billion, with just 105 locations selling watches and jewlery.             

One of the report’s most notable developments was the rise of Richemont to the No. 2 position, overtaking several larger-format retailers. The Swiss luxury conglomerate, owner of prestigious maisons including Cartier and Van Cleef & Arpels, reported $3.62 billion in watch and jewellery sales through only 105 locations. The performance illustrates the outsized revenue-generating power of luxury retail, with Richemont achieving high productivity per store compared with mass-market competitors.

The reshuffling pushed Walmart down to fourth place, signaling a broader shift in consumer spending toward premium and luxury jewellery categories. Meanwhile, warehouse retailer Costco advanced to No. 5, continuing to strengthen its position in fine jewellery through value-led offerings and member-driven purchasing.

Jewellery brand Pandora also climbed one rank to secure the No. 7 spot, reflecting sustained demand for branded jewellery collections and accessible luxury products. In contrast, luxury powerhouse LVMH slipped to No. 6, while longstanding department store chain Macy’s moved down to eighth place, highlighting increased competitive pressures within traditional retail channels.

Another significant change came at the lower end of the top ten, where Watches of Switzerland Group entered the rankings at No. 10, marking growing momentum for specialist luxury watch retail in North America. Its entry displaced Bucherer to No. 11, emphasizing the increasingly competitive nature of premium watch distribution.

The report points to a broader transformation in North America’s jewellery retail hierarchy, where luxury groups, specialist watch retailers, and branded jewellery players are steadily gaining ground against traditional mass-market and department-store operators. While scale remains a decisive advantage—as demonstrated by Signet’s market leadership—the rankings suggest profitability and influence are increasingly being driven by premium positioning, brand equity, and high-value transactions rather than store count alone.

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