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Precious metals subdued on strong US Jobs data AUGMONT BULLION REPORT

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AUGMONT BULLION REPORT
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  • A better-than-expected U.S. jobs data has strengthened predictions that the Federal Reserve would not lower interest rates at its December meeting, which has caused precious metals to trade mutedly.
  • The highly anticipated U.S. Labour Department report, which was postponed due to the federal government shutdown, revealed that nonfarm payrolls climbed by 119,000 in September—more than twice the projected gain of 50,000.
  • The Fed lowered interest rates despite members’ warnings that doing so could jeopardise persistent inflation and erode public confidence in the US central bank, according to minutes from the Fed’s October meeting that were made public on Wednesday.
  • The Cleveland Beth Hammack, the president of the Federal Reserve, cautioned on Thursday that further rate cuts at this time pose a number of economic dangers. There is a chance that asset prices will drop excessively, according to Fed Governor Lisa Cook.

Technical Triggers 

  • Gold has been trading in the range of $4000 (~Rs 121,000) and $4150 (~Rs 125,000). Buy on dips around support and sell on rallies around resistance.
  • Silver has been trading in the range of $49 (~Rs 150,000) to $53 (~Rs 160,000). Buy on dips around support and sell on rallies around resistance.

Support and Resistance

CommoditySupport LevelResistance Level
International Gold$4000/oz$4150/oz
Indian Gold₹121,000/10 gm₹125,000/10 gm
International Silver$49/oz$53/oz
Indian Silver₹150,000/kg₹160,000/kg

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Kering Invests in China’s Gold Jewelry Surge as Laopu’s Explosive Growth Reshapes Market

Heritage-gold brands Borland and Lamchiu secure major funding amid soaring demand, fueled by Laopu’s meteoric rise and China’s booming 24-karat segment.

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A wave of investor interest is sweeping through China’s gold jewelry sector as the rapid rise of Laopu Gold Co. galvanizes confidence in the country’s high-end heritage gold market. The latest beneficiary is Borland, a Hangzhou-based jeweler known for its traditional filigree craftsmanship, which this week announced more than 100 million yuan ($14 million) in new funding.

The investment round includes contributions from Kering Ventures, the startup arm of luxury group Kering SA, and Shunwei Capital, co-founded by Xiaomi chairman Lei Jun. Kering noted that its minority stake enables participation in the “rapid development of a particularly buoyant 24-karat gold jewelry segment,” reflecting growing appetite for culturally rooted premium gold pieces.

Meanwhile, Dayone Capital has made a separate investment exceeding 100 million yuan in Lamchiu, a Lanzhou-based maker of handcrafted bespoke gold jewelry. The firm will support Lamchiu in expanding distribution and reinforcing the brand’s supply-chain capabilities.

The surge of capital follows the remarkable ascent of Laopu, which has become one of China’s breakout jewelry success stories. The company reported 12.4 billion yuan in revenue in the first half of 2025 — a year-on-year increase of over 250%, building on 168% growth from the previous year. Laopu’s momentum has outpaced Western luxury houses struggling with softer China demand.

Heritage gold jewelry — deeply rooted in Chinese aesthetics and traditional techniques like filigree — is attracting a new generation of luxury consumers. Brands like Laopu, which operate in top-tier malls, increasingly compete with global maisons such as Hermès and Cartier for clientele.

Despite strong digital followings, newer brands still face distribution gaps. Borland operates only three mall stores, while Lamchiu, despite amassing more than 1 million followers on Douyin, runs just one physical outlet in Lanzhou. Both companies plan to use their fresh funding to accelerate expansion and strengthen operational infrastructure.

The latest investments signal rising confidence that China’s heritage-gold renaissance is evolving from a trend into a long-term luxury category shaping the future of the jewellery market.

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