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
Precious Metals Find Support On Ceasefire Optimism AUGMONT BULLION REPORT
Gold Is Trading At Y Oversold Levels Near The Critical Support Zone Of $4,300, Silver Testing Key Support In The $66–$67 Range
- Price Movement – Gold and silver are consolidating near key support levels as markets digest a fragile Israel-Iran ceasefire alongside mounting concerns over inflation and the prospect of further interest rate hikes.
- Geopolitical Developments – President Trump confirmed that both parties are pursuing an immediate ceasefire, with final negotiations advancing. Israel and Iran announced a mutual halt to hostilities following a direct appeal from Washington. However, Tehran cautioned that it reserves the right to resume strikes if Israeli operations against Hezbollah in Lebanon continue.
- Macro-economic Signals – CME FedWatch data shows markets now pricing a greater than 70% probability of a Fed rate hike by December. Investors are closely watching May’s U.S. CPI and PPI releases, due Wednesday, for clearer signals on the Fed’s policy trajectory. The European Central Bank is also widely expected to deliver a rate increase this week.
Technical Triggers
- Gold is currently trading at deeply oversold levels near the critical support zone of $4,300 (approximately Rs. 1,54,000). A technical rebound of 3–4% is anticipated from current levels, driven by bottom-fishing activity. However, a sustained break below this support would shift the near-term bias decisively lower, exposing the $4,000–$4,100 range (approximately Rs. 1,50,000–Rs. 1,51,500) as the next downside target.
- Silver is similarly oversold, testing key support in the $66–$67 range (approximately Rs. 2,40,000–Rs. 2,42,000). As with gold, a 3–4% technical recovery is the base case on dip-buying, but a confirmed sustainability below this support would accelerate selling pressure toward $60 (approximately Rs. 2,20,000) in the short term.
Support and Resistance
| International Gold Support Level International Gold Resistance Level Domestic Gold Support Level Domestic Gold Resistance Level | : $4300/oz : $4500/oz : Rs 154,000/10 gm : Rs 160,000/10 gm |
| International Silver Support Level International Silver Resistance Level  Domestic Silver Support Level Domestic Silver Resistance Level | : $66/oz : $75/oz  : Rs 240,000/kg : Rs 260,000/kg |
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