International News
Precious Metals gain after FED minutes AUGMONT BULLION REPORT
Liquidity – Gold remains in a consolidation phase, largely due to thin liquidity conditions during the Lunar New Year holiday week. With major Asian markets — including mainland China, Hong Kong, Singapore, Taiwan, and South Korea — closed, trading volumes are subdued. The muted price action appears technical in nature rather than driven by any fundamental shift.
Economic Data – On the macro-economic front, minutes from the Federal Reserve’s January meeting indicated a divided policy stance. Some officials supported pausing further rate cuts until inflation shows clearer improvement, while others discussed the possibility of rate hikes, advocating a balanced outlook. Following this, traders reduced expectations for multiple rate cuts this year. Markets now await key GDP and PCE inflation data, which could shape future rate expectations.
Geopolitical Tensions – Geopolitical tensions involving Iran have resurfaced. Reports suggest that any potential U.S. military action, if talks fail, could evolve into a prolonged campaign. This development may provide underlying support to gold if risks escalate further.
Technical Triggers
As indicated in the previous report, gold has rebounded from its key support level near $4,850 (~ Rs.1,50,000) and is now gradually advancing toward the resistance zone around $5,100 (~ Rs.1,60,000). One may consider a buy-on-dips strategy near support levels and book profits on rallies closer to resistance, until a decisive breakout occurs.
Silver has bounced from its support zone of $70–$90 (~ Rs.2,25,000). Prices are now heading toward the resistance levels of $85 (~ Rs.2,68,000) and $90 (~ Rs.2,85,000). Given the high volatility in silver, a buy-on-dips and sell-on-rallies approach remains appropriate within the current trading range.
Support and Resistance
| Metal | Market | Support Level | Resistance Level |
|---|---|---|---|
| Gold | International | $4850 / oz | $5100 / oz |
| Gold | India | ₹150,000 / 10 gm | ₹160,000 / 10 gm |
| Silver | International | $70 / oz | $85 / oz |
| Silver | India | ₹225,000 / kg | ₹265,000 / kg |
International News
India-UAE Jewellery Dialogue Draws 200+ Stakeholders, Reinforces Trade Confidence
GJEPC and UAE Leadership Reaffirm Commitment To Market Resilience and “Business Beyond Borders.”
- The India-UAE Gems & Jewellery Dialogue -Boosting Confidence, held on 2 April 2026 at Taj Business Bay, Dubai, saw strong industry participation, underscoring continued optimism in bilateral trade. The event was organised under the patronage of the Embassy of India in the UAE, the Consulate General of India in Dubai, and the GJEPC.
The high-level gathering brought together over 200 stakeholders across the jewellery value chain, including manufacturers, retailers, wholesalers, and policymakers from both countries. Among the dignitaries present were H.E Mohammed Ali Rashed Lootah, President & CEO Dubai Chamber, H.E. Ahmed Al Khaja, CEO Dept of Economy & Tourism, H.E. Jumal Al Kait, Asst Undersecretary Ministry of Foreign Trade, Tawhid Abdullah, Chairman Dubai Jewellery Group. Speakers highlighted the resilience of the UAE’s jewellery ecosystem and pointed to expanding opportunities for integration with Indian manufacturers.
Delivering the keynote, H.E. Dr Deepak Mittal, the Ambassador of India to the UAE, reaffirmed the Government of India’s continued support for the sector and emphasised the UAE’s strategic importance as a partner under the India-UAE Comprehensive Economic Partnership Agreement (CEPA).
Hon’ble Consul General Satish Kumar Sivan stressed the need for unity and confidence within the trade amid shifting global dynamics. In his welcome address, Mr Sabyasachi Ray, Executive Director, GJEPC, outlined GJEPC’s focus on strengthening exports and deepening engagement across the GCC through collaborative initiatives.
Key discussions reaffirmed the strength of India-UAE trade ties in gems and jewellery, sustained confidence in the UAE market despite global uncertainties, and the need for closer coordination between government, trade bodies, and industry. Participants also recognised the India Jewellery Exposition Centre (IJEX) as a critical platform enabling market access in the region.
The dialogue concluded with a shared commitment to deepen cooperation, strengthen trust, and drive growth in bilateral jewellery trade, with GJEPC reiterating its focus on facilitating “Business Beyond Borders.”
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