International News
Precious metals remain elevated on hopes that US data will boost FED rate cut bets AUGMONT BULLION REPORT
- 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 |
International News
US NRF forecasts total holiday sales to cross $1 trillion; Clothing , jewellery are second most-wished-for gifts
The US National Retail Federation (NRF) forecasts strong consumer spending on gifts, including jewellery, for the 2025 Christmas season, projecting overall holiday retail sales growth of 3.7% to 4.2%. While the NRF doesn’t provide a specific forecast for jewellery, it notes that clothing and accessories (including jewellery) are highly desired gifts, and younger shoppers are particularly likely to purchase jewellery, often finding inspiration on social media platforms like TikTok and Instagram.
Key NRF holiday forecast details
- Overall sales: NRF forecasts total holiday sales to grow between 3.7% and 4.2% over last year, reaching over $1 trillion for the first time.
- Consumer spending: The forecast is driven by strong underlying consumer fundamentals, with shoppers prioritizing spending on gifts for loved ones.
- Shopping habits: Shoppers are starting early to manage budgets, avoid crowds, and take advantage of promotions. Online shopping remains the top method, followed by grocery stores and department stores.
Jewellery-specific insights
- High-demand gift: Clothing and accessories (including jewelry) are the second most-wished-for gifts, after gift cards.
- Younger shoppers: Consumers aged 18-24 are especially likely to purchase jewellery, and they find gift ideas on social media platforms like TikTok and Instagram.
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