International News
Precious metals wait for PCE data for further cues AUGMONT BULLION REPORT
- Gold and silver prices are consolidating as rising US Treasury yields counteract support from a weaker dollar, while investors await Friday’s US inflation data for hints on the Federal Reserve’s policy stance ahead of its December meeting.
- Meanwhile, ADP reported an unexpected 32K reduction in private payrolls, while Challenger reported 71K layoffs in November, increasing the year-to-date total to nearly 1.17 million, indicating a cooling labor market. These events have increased the likelihood of a Fed rate cut next week, with markets pricing in around an 87% chance. This year, gold has increased by more than 60% in dollar terms, the highest performance in 46 years.
- Russian President Vladimir Putin said on Thursday that several proposals in a US plan to end the war in Ukraine are unacceptable, implying that a solution is still some time away. Furthermore, Putin reiterated that Ukrainian troops must evacuate from the Donbas region or Russia will capture it. Geopolitical threats continue to be a factor boosting gold and silver prices.
Technical Triggers
- Gold has started its upward journey again; the next target is $4300 (~Rs 132,000) and $4345 (~Rs 133,500) with strong support at $4200 (~Rs 129,000).
- Silver can continue its rally towards $60 (~Rs 185,500) and $62 (~Rs 191,000), with firm support at $57 (~Rs 177,000), if tight supply conditions continue.
Support and Resistance
| Category | Support Level | Resistance Level |
|---|---|---|
| International Gold | $4200/oz | $4345/oz |
| Indian Gold | ₹129,000 / 10 gm | ₹132,000 / 10 gm |
| International Silver | $57/oz | $62/oz |
| Indian Silver | ₹177,000 / kg | ₹191,000 / kg |
DiamondBuzz
Diamond Slump forces Debswana to diversify into copper, platinum and solar
Diamond-centric mining models is giving way to broader resource portfolios
Debswana Diamond Company, the 50–50 joint venture between the Botswana government and De Beers, is moving to diversify into copper, platinum and renewable energy as the prolonged downturn in natural diamond demand pressures earnings and forces the industry to rethink its growth strategy.
The company’s board has approved plans to invest in a portfolio of non-diamond projects after revenue fell 46% in 2024, the latest available financial year, highlighting the scale of the downturn in the global diamond market.
The move signals a strategic shift toward commodities with stronger long-term demand fundamentals, particularly copper, which is central to global electrification and energy-transition infrastructure.
Debswana’s diversification reflects a broader industry pivot as diamond producers confront weak consumer demand, rising competition from lab-grown stones and elevated inventories across the supply chain.
The shift is also visible among smaller exploration companies. Botswana Diamonds recently rebranded as Botswana Minerals, signalling its own strategic focus on copper exploration rather than diamonds.
Together, these moves underscore a growing consensus across the sector: the era of diamond-centric mining models is giving way to broader resource portfolios anchored in energy-transition metals.
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