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 |
International News
US Holiday Shopping Expected To Top $1 Trillion For The First Time: NRF
While Overall Buying Power Remains High, Ongoing Inflation and Rising Household Costs Mean Some Families Will Have To Watch Their Spending More Carefully Than Others
The National Retail Federation (NRF) predicts Americans will spend $1.01 trillion on holiday shopping in November and December. That is a 4.2% jump from $972 billion last year.
NRF said its forecast was based on economic modeling that incorporates consumer spending, employment, wages and ​historical retail sales data. It excludes automobile, gasoline and ​restaurant sales
​Extra Hiring: To handle the surge in shoppers, stores plan to hire 325,000 to 375,000 temporary holiday workers.
​Mixed Budget Impact: Higher gas prices and inflation could still strain some family budgets, affecting low- and high-income shoppers differently.
​Retailers expect a strong shopping season because people continue to make holiday spending a priority.
Store owners are ready to attract shoppers by offering competitive prices, deals, and choices for every budget.
While overall buying power remains high, ongoing inflation and rising household costs mean some families will have to watch their spending more carefully than others.
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US Holiday Shopping Expected To Top $1 Trillion For The First Time: NRF
Belgian Consul General H. E. Mr. Pierre Stverlynck Graces BDB Annual Day Â
Limelight Lab Grown Diamonds Crosses 100 Stores Milestone This Dussehra: Targets 200 In 2027
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International News15 hours agoUS Holiday Shopping Expected To Top $1 Trillion For The First Time: NRF
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National News9 hours agoBelgian Consul General H. E. Mr. Pierre Stverlynck Graces BDB Annual Day Â
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National News10 hours agoLimelight Lab Grown Diamonds Crosses 100 Stores Milestone This Dussehra: Targets 200 In 2027
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New Premises10 hours agoJoyalukkas Opens Its 2nd Bengaluru Showroom in Jayanagar
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