International News
Precious Metals prices slump on easing geopolitical tensions AIUGMONT BULLION REPORT
Gold and silver prices continued their downward trend as easing geopolitical tensions and expectations of dovish signals from Fed Chair Powell at the Jackson Hole symposium weighed on safe-haven demand. Markets anticipate two rate cuts this year, with the first likely in September, while optimism over a potential Russia-Ukraine peace deal further reduced risk premiums.
- Concerns over the Russia-Ukraine peace deal and expectations of dovish comments from Fed Chair Powell at the Jackson Hole symposium have caused gold and silver to continue their downward trend due to the likelihood of reducing geopolitical tensions.
- President Zelensky of Ukraine and Russian President Vladimir Putin may soon meet. The meetings with Donald Trump were hailed by Ukrainian President Zelenskiy, who described them as a major step toward ending the current conflict and opening the door for possible talks with Russian President Putin.
- However, market players are simultaneously expecting that Powell will clue them in his speech as to whether a rate cut is likely at the meeting in September. Two 25 basis point rate reductions are anticipated this year, according to FED probability, with the first one possibly taking place in September.
Technical Triggers
- Gold seems to continue its downward trajectory after sustaining below $3400. Next target is $3340 (~Rs 98500), while $3445 (~Rs 100,500) remains the resistance
- As Silver prices have broken their support of $37.5(~Rs 112,500), prices are expected to fall towards $36.50 (~Rs 109,500).
Support and Resistance
| Metal | Market | Support Level | Resistance Level |
|---|---|---|---|
| Gold | International | $3340/oz | $3445/oz |
| Indian | ₹98,500 / 10 gm | ₹100,500 / 10 gm | |
| Silver | International | $36.5/oz | $39/oz |
| Indian | ₹109,500 / kg | ₹115,000 / 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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