Precious metals remain elevated on hopes that US data will boost FED rate cut bets AUGMONT BULLION REPORT

Published

4 months ago

November 14, 2025

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The dollar’s decline and the uncertainty surrounding the backlog of official data following the US government’s 43-day reopening have helped gold prices rise 4.8% so far this week.
Some of these releases might be lost completely, but others might show up soon, which would raise concerns about the nation’s economic future.
The U.S. government has opened, though, and as a result of all these concerns about inflation and the slowdown, there was some decline in silver prices as expectations changed to suggest that the Fed might not be ready to cut rates aggressively.
Markets have lowered their estimates for a December Fed rate cut, giving a 25 basis point cut a 50% chance, down from over 95% a month ago. Meanwhile, betting on cuts in 2026 has not altered.

Technical Triggers

Gold continues its upside, crossing $4200, with the next target resistance at $4300 (~Rs 130,000), with support at $4100 (~Rs 123,500)
Silver has touched record high prices, crossing $54 (~Rs 164,000). Now the next target resistance lies at $55(~Rs 168,500) and $56 (~Rs 172,000) and support at $52 (~Rs 160,500)

Support and Resistance

Category	Support Level	Resistance Level
International Gold	$4100/oz	$4300/oz
Indian Gold	₹123,500/10 gm	₹130,000/10 gm
International Silver	$52/oz	$56/oz
Indian Silver	₹160,500/kg	₹172,000/kg

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AGTA appeals US Government to Scrap 10% Import Tariff on Gemstones

Trade body seeks exemption for coloured gemstones under new temporary tariff regime, with potential implications for diamonds.

Published

12 hours ago

February 27, 2026

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The American Gem Trade Association (AGTA) has formally appealed to the US government to remove the newly imposed 10% global import tariff on gemstones, and potentially diamonds, warning of its impact on the trade.

The tariff was announced on February 20 after the US Supreme Court struck down President Donald Trump’s reciprocal tariffs issued under the International Emergency Economic Powers Act (IEEPA). In response, the administration introduced a temporary 10% import surcharge under Section 122 of the Trade Act of 1974. The measure will remain in effect for 150 days unless Congress votes to extend it, though further tariff mechanisms have not been ruled out.

AGTA has submitted a formal request to the Office of the United States Trade Representative (USTR), urging that precious and semiprecious coloured gemstones be added to the exception list under Annex I or Annex II. The association argued that these stones are not mined domestically in the US and therefore should qualify for exemption.

Previously, AGTA’s lobbying efforts contributed to diamonds and gemstones being included in Annex III — a list of products eligible for potential exemption from duties for “aligned” countries. This had placed Indian diamonds and gemstones on track for relief following a prospective US-India trade agreement. However, it remains unclear whether Annex III provisions apply under the new tariff framework that recently took effect.

If the across-the-board exemption request is denied, AGTA has asked the USTR to confirm whether Annex III remains a viable pathway for country-specific tariff relief on coloured gemstones.

While the current petition focuses on coloured gemstones, AGTA noted that trade experts believe any exemption granted in this category could effectively extend to diamonds, as seen in past trade agreements such as the US–European Union deal.

“We will continue to work tirelessly toward eliminating tariffs on gemstone imports into the US. We remain fully committed to this effort — giving up is not an option,” said AGTA President Bruce Bridges and CEO John Ford.