International News
Precious Metals continues record run AUGMONT BULLION REPORT
- Gold touches a new record high of $3795 (~Rs 112,500) and Silver touches 14 14-year high of $44.40 (~Rs 133,900), encouraged by expectations that the Fed may lower interest rates further this year. Last week, the Fed made its first rate cut of the year and hinted at more to come as the labour market deteriorates.
- As a result, markets priced in nearly two additional 25 basis point cuts at the central bank’s remaining meetings this year.
- Strong central bank purchases, consistent ETF inflows, and persistent geopolitical risks—such as the Russia-Ukraine conflict and the economic consequences of President Donald Trump’s tariffs—have also supported safe-haven flows.
- For additional direction on the rates outlook, investors are now anticipating a new Fed speech and significant US inflation data this week.
Technical Triggers
- Gold Oct Futures is on its way to cross $3800 (~Rs 113,000) as the bullish run stays intact. Silver Nov Futures is on its way to touch the next psychological level of $45 (135,000), as the bullish run stays intact. Having said that, one should be very cautious on the buy side, as the rally seems overdone and overbought.
Support and Resistance
| Commodity | Support Level | Resistance Level |
|---|---|---|
| International Gold | $3720/oz | $3800/oz |
| Indian Gold | ₹110,400 / 10 gm | ₹113,000 / 10 gm |
| International Silver | $43.5/oz | $45/oz |
| Indian Silver | ₹130,000 / kg | ₹135,000 / kg |
International News
US jewellery consumers shift toward premium purchases in November 2025: Tenoris report
US jewellery buyers shifted toward premium purchases in November 2025, boosting average spend per item by 14.5% despite softer unit sales according to the Tenoris report.
Sales Snapshot
Total revenue climbed 3% year-over-year, lagging prior double-digit gains, as consumers splurged on higher-end pieces rather than volume. Finished jewellery led with nearly 5% revenue growth, fueled by rising gold prices and buyer willingness to pay up. Unit sales dipped 10% overall, signaling a quality-over-quantity mindset.
Diamond jewellery saw slight revenue dips but 13% higher spend per item on pricier natural stones; loose diamonds weakened, especially low-end. Gold, silver, and platinum demand shares held steady, rejecting alternatives amid gold’s rally.
Lab-grown diamonds (LGD) lagged, with revenue down despite modest unit upticks—stuck at ~$500 average, failing to attract investment buyers favoring naturals.
Edahn Golan of Tenoris highlights sustained premiumization, where shoppers chase value through upscale selections. This bodes well for high-end suppliers but pressures volume-driven segments like LGD entry-level goods.
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