International News
Precious metals eye the nonfarm payroll data for further direction AUGMONT BULLION REPORT
- Following the release of the minutes from the Federal Reserve’s most recent meeting, gold and silver prices are consolidating, and market players are keeping their attention on impending economic data in search of additional hints regarding the direction of U.S. interest rates.
- The minutes from the October 28–29 meeting revealed that a divided Fed lowered interest rates last month despite warnings from officials that lower borrowing costs could jeopardise the effort to control inflation, which has been above the U.S. central bank’s 2% objective for four and a half years.
- The September U.S. non-farm payrolls report, which was postponed because of the recent U.S. government shutdown, is now the main focus. It is slated for later in the day. It is anticipated that the statistics will offer more clues about the Fed’s future course.
- According to CME Group’s Fed Watch tool, traders now perceive a nearly 33% possibility of a rate drop at the Fed’s December 9–10 meeting, down from 49% on Wednesday.
Technical Triggers
- Gold has been trading in the range of $4000 (~Rs 121,000) and $4150 (~Rs 125,000). Buy on dips around support and sell on rallies around resistance.
- Silver has been trading in the range of $49 (~Rs 150,000) to $53 (~Rs 160,000). Buy on dips around support and sell on rallies around resistance.
Support and Resistance
| Category | Support Level | Resistance Level |
|---|---|---|
| International Gold | $4000/oz | $4150/oz |
| Indian Gold | ₹121,000/10 gm | ₹125,000/10 gm |
| International Silver | $49/oz | $53/oz |
| Indian Silver | ₹150,000/kg | ₹160,000/kg |
International News
US Jewellery Companies Continued To Shrink In The Third Quarter:JBT
During Q3, Business Closures Dropped To 116 Compared To 126 In The Prior Year’s Third Quarter, Driven By 88 General Operational Cessations, 28 Acquisitions Or Mergers, and Zero Bankruptcies.
The number of active US jewelry companies continued to shrink in the third quarter, but at a slower pace than a year ago, according to the latest data from the Jewelers Board of Trade (JBT).The US jewelry industry continued its structural consolidation through Q3, though the pace of business closures showed signs of stabilizing compared to the previous year. Data from the Jewelers Board of Trade (JBT) reflects ongoing consolidation across retail, wholesale, and manufacturing, coupled with heightened credit volatility.
Key Data & Metrics
Nationwide, the active business footprint stands at 21,831 companies, reflecting a 1.4% year-over-year decline. During Q3, business closures dropped to 116 compared to 126 in the prior year’s third quarter, driven by 88 general operational cessations, 28 acquisitions or mergers, and zero bankruptcies. Meanwhile, new market entrants also slowed, with 67 new business openings recorded in Q3 down from 89 during the same period last year.
Sector-by-Sector Breakdown
| Sector | Active Count | YoY Change | Impact Summary |
| Retailers | 16,564 | -1.5% | Makes up the majority of the sector; experienced the largest net store count reduction. |
| Manufacturers | 2,061 | -1.7% | Steepest percentage decline among all segments. |
| Wholesalers | 3,206 | -0.9% | Relatively stable, holding the mildest contraction rate. |
Credit & Financial Health Trends
The JBT report highlights dynamic shifts in creditworthiness across US and Canadian businesses, signaling bifurcated financial health:
- Credit Downgrades: Jumped sharply to 1,655 (up from 620 in Q3 of the prior year).
- Credit Upgrades: Rose significantly to 1,480 (up from 551 in Q3 of the prior year).
While net business closures are tapering off, high numbers of simultaneous upgrades and downgrades point to a split market where resilient operators are strengthening their positions while vulnerable businesses face tighter financial pressures.
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