International News
Precious Metals Rally On US-Iran Ceasefire: Gold Tops $4,850, Silver Jumps To $76
Sharp Rebound Comes From Post-Conflict Lows, As Oil Dipped Below $100 Per Barrel and The Dollar Weakened
COMEX gold rocketed 3.1% to above $4,850 per ounce in Asian trading, building on yesterday’s 1.2% gain, while silver soared 6.8% to $76.92/oz. The rally followed U.S. President Trump’s announcement of a two-week ceasefire with Iran, halting strikes to negotiate the reopening of the Strait of Hormuz.
Iran has submitted a 10-point proposal through a Pakistani mediator, with talks scheduled for April 10 in Islamabad. This sharp rebound comes from post-conflict lows, even as oil dipped below $100 per barrel and the dollar weakened—factors that bolster dollar-denominated precious metals.
Since the February conflict began, gold has fallen about 10% overall and silver around 17%, but recent ceasefire hopes and signs of slowing global growth are fueling the recovery, offsetting rate-hike concerns. Volatility lies ahead with an upward bias if safe-haven demand persists and macroeconomic conditions remain supportive. Markets are now awaiting the minutes from the Fed’s March meeting, due on Wednesday.
International News
Signet The Biggest-Grossing Jeweller In North America By Far In 2025
Luxury Groups, Specialist Watch Retailers, and Branded Jewellery Players Are Steadily Gaining Ground Against Traditional Mass-Market and Department-Store Operators
National Jeweler’s latest State of the Majors report highlights a shifting leaderboard among North America’s “$100M supersellers,” which grew from 36 to 37 qualifying retailers in 2025. While Signet Group comfortably defended its first-place crown—generating $6.36 billion across 2,329 stores—the rest of the top ten saw major disruption. Signet’s total watch and jewelry sales for the year were $6.36 billion according to the report and had 2,329 outlets. Second-placed Richemont, the Swiss luxury conglomerate, sold $3.62 billion, with just 105 locations selling watches and jewlery.
One of the report’s most notable developments was the rise of Richemont to the No. 2 position, overtaking several larger-format retailers. The Swiss luxury conglomerate, owner of prestigious maisons including Cartier and Van Cleef & Arpels, reported $3.62 billion in watch and jewellery sales through only 105 locations. The performance illustrates the outsized revenue-generating power of luxury retail, with Richemont achieving high productivity per store compared with mass-market competitors.
The reshuffling pushed Walmart down to fourth place, signaling a broader shift in consumer spending toward premium and luxury jewellery categories. Meanwhile, warehouse retailer Costco advanced to No. 5, continuing to strengthen its position in fine jewellery through value-led offerings and member-driven purchasing.
Jewellery brand Pandora also climbed one rank to secure the No. 7 spot, reflecting sustained demand for branded jewellery collections and accessible luxury products. In contrast, luxury powerhouse LVMH slipped to No. 6, while longstanding department store chain Macy’s moved down to eighth place, highlighting increased competitive pressures within traditional retail channels.
Another significant change came at the lower end of the top ten, where Watches of Switzerland Group entered the rankings at No. 10, marking growing momentum for specialist luxury watch retail in North America. Its entry displaced Bucherer to No. 11, emphasizing the increasingly competitive nature of premium watch distribution.
The report points to a broader transformation in North America’s jewellery retail hierarchy, where luxury groups, specialist watch retailers, and branded jewellery players are steadily gaining ground against traditional mass-market and department-store operators. While scale remains a decisive advantage—as demonstrated by Signet’s market leadership—the rankings suggest profitability and influence are increasingly being driven by premium positioning, brand equity, and high-value transactions rather than store count alone.
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