International News
Precious Metals continue their bull run ahead of the NFP data AUGMONT BULLION REPORT
- Anticipating lower US interest rates and safe-haven demand helped gold rise beyond $3600, close to record levels, and on pace for a weekly gain of more than 3%.
- Further deterioration was indicated by the most recent ADP report, which showed that private payrolls increased by just 54,000 in August, significantly less than expected, and that jobless claims hit their highest level since June. To solidify their bets on a short-term Fed move, investors are now awaiting the August NFP data, which is out later today.
- There is a virtually 100% chance that markets will price in a 25 basis point drop on September 17. Since lower interest rates lessen the opportunity cost of keeping non-yielding assets, traders are now betting on up to three cuts this year, which would help gold.
- Concerns about the Fed’s independence have been exacerbated by President Trump’s actions, and the demand for safe-haven assets is being increased by geopolitical tensions, economic uncertainty, and global trade uncertainties.
Technical Triggers
- Gold seems to continue its run-up towards its record high levels again. Next target $3650 (~Rs 108,000) and $3700 (~Rs 110,000).
- Silver continues its upward trajectory for the next target of $42 (~Rs 125,500) and $43 (~Rs130,000).
Support and Resistance
| Category | Support Level | Resistance Level |
|---|---|---|
| International Gold | $3575/oz | $3650/oz |
| Indian Gold | ₹106,000/10 gm | ₹108,000/10 gm |
| International Silver | $41/oz | $43/oz |
| Indian Silver | ₹123,000/kg | ₹130,000/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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