International News
Precious Metals Under Pressure: Diplomatic Shifts, Geopolitical Risk, and Central Bank Outlook AUGMONT BULLION REPORT
- Safe-Haven Dynamics – Gold is trading below $4650 as investors evaluate ongoing diplomatic efforts to resolve the US–Iran conflict. The crisis has caused a significant energy supply disruption and heightened inflation concerns. Iran has proposed halting its operations in the Strait of Hormuz in exchange for a complete ceasefire and removal of the US blockade on Iranian ports.
- Geopolitical Developments – Tehran has submitted a new proposal to Washington via Pakistani intermediaries, offering to reopen the Strait of Hormuz conditional on the US lifting its blockade, while postponing discussions on its nuclear program. Washington remains skeptical and is likely to respond with counter-proposals in the near term. Iran’s nuclear ambitions remain the central point of disagreement between the two sides.
- Macro-economic Signals – Markets are also focused on upcoming monetary policy decisions by the Fed, ECB, and BOJ this week. Persistent energy price inflation, driven by Middle East tensions, has strengthened expectations that central banks may maintain or further raise interest rates. This monetary tightening outlook is exerting downward pressure on gold prices.
Technical Triggers
- Gold has broken the important support of $4650 (~ Rs 151,000), the next target is $4550 (~ Rs 147,500).
- Silver is on the verge of breaking $73 (~ Rs 235,000). If prices sustain below this level, the next target is $70 (~ Rs 225,000).
Support and Resistance
| International Gold Support Level International Gold Resistance Level Domestic Gold Support Level Domestic Gold Resistance Level | : $4550/oz : $4850/oz : Rs 147,500/10 gm : Rs 155,000/10 gm |
| International Silver Support Level International Silver Resistance Level Domestic Silver Support Level Domestic Silver Resistance Level | : $70/oz : $77/oz : Rs 225,000/kg : Rs 245,000/kg |
A massive 11,000-carat rough ruby has been recovered in the famed gem-rich region of Mogok, Myanmar, according to recent state media reports.
Weighing in at 2.2 kg (4 lbs 14 oz), the newly discovered stone is roughly half the size of the legendary 21,450-carat rough gem found in the same region back in 1996. However, experts and state officials report that this new find boasts vastly superior color, luster, and transparency.
Mogok rubies, sourced from the “Valley of Rubies” in Myanmar (Burma), are legendary for their unrivaled vivid color and supreme clarity. They are famous worldwide for their “pigeon blood” red hue, which is caused by trace elements and microscopic silk particles that scatter light and give the gem a glowing, velvety softness.
Key Details of the Discovery:
- Physical Properties: The giant gem exhibits a striking purplish-red color with yellowish undertones, excellent vitreous luster, and moderate transparency. It remains entirely in its natural, untreated state.
- Geopolitical Context: Myanmar supplies roughly 90% of the world’s rubies. However, the nation has been embroiled in a devastating civil war since a 2021 military coup—a conflict that has claimed approximately 90,000 lives and displaced over 3.5 million people.
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International News5 hours agoMassive 11,000-Carat Ruby Uncovered In Myanmar
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