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 |
International News
Dubai Records Highest-Ever Diamond Trade In 2025
Natural Diamonds Continued To Dominate The Market, Contributing US$39.9 billion, Or 96% Of Dubai’s Total Diamond Trade Value In 2025.
Dubai achieved a record performance in its diamond trade in 2025, reaching its highest-ever levels in both value and volume, according to the Dubai Multi Commodities Centre (DMCC).
The total value of diamond imports and exports increased 16% year-on-year to US$41.7 billion, up from US$35.8 billion in 2024. Trade volume also surged 43% to 359.5 million carats, marking the first time Dubai has recorded all-time highs in both value and physical volume.
DMCC CEO Ahmed Bin Sulayem said the strong performance reflects Dubai’s long-term strategy of building a transparent, connected, and efficient global hub for the diamond trade. Since 2020, diamond trade through Dubai has doubled in volume and grown nearly 140% in value.
Natural diamonds continued to dominate the market, contributing US$39.9 billion, or 96% of Dubai’s total diamond trade value in 2025.
Trade in rough diamonds reached 205.2 million carats, the second-highest volume on record and around 34% higher than in 2024. The value of natural polished diamond trade rose nearly 25% to US$18.7 billion. Since 2020, the value of natural polished diamond trade through Dubai has increased by 246%.
Over the past decade, Dubai’s overall diamond trade has grown 63% in value and 44% in volume, reinforcing its position as one of the world’s leading diamond trading centres.
The emirate also recorded strong growth in other precious stones. Coloured gemstone trade climbed 48% to a record US$1.1 billion, supported by a 69% increase in imports and a 34% rise in exports. Meanwhile, synthetic and industrial diamonds accounted for around 39% of the total diamond trade volume in 2025.
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