International News
Precious metals witness profit booking ahead of Employment data AUGMONT BULLION REPORT
- Gold and silver prices fell as investors awaited the US nonfarm payrolls report for October and November, which would provide additional information on the Federal Reserve’s policy stance. If labour market data confirms the idea that employment remains a weak point, precious metals may benefit since it enhances the case for quicker rate cuts.
- Markets are currently putting in a 75.6% chance that the Fed will hold interest rates unchanged at its January meeting, with some expecting two additional rate cuts next year.
- US officials stated on Monday that an agreement with Ukrainian President Volodymyr Zelenskyy to stop the war with Russia was nearly complete, but territorial problems remain unresolved, and a robust security assurance from the US and European countries remains a sticking point.
- India’s regulators now enable pension funds to invest in gold and silver ETFs. They will be authorised to add gold and silver ETFs in private sector pension programs worth up to 5% of the fund’s AUM. This could further increase the already increasing investment demand in India.
Technical Triggers
- Gold is expected to trade in the range of $4290 (~Rs 132,000) to $4400(~Rs 136,000) this week. Buy on dips around support.
- For Silver $65 (~Rs 200,000) will be a difficult nut to crack. Prices are expected to touch support of Rs $60.50 (~Rs 188,000) before rising higher to resistance.
Support and Resistance
| Metal | Market | Support Level | Resistance Level |
|---|---|---|---|
| Gold | International | $4,400 / oz | $4,290 / oz |
| Gold | Indian | ₹132,300 / 10 gm | ₹135,500 / 10 gm |
| Silver | International | $60.5 / oz | $65 / oz |
| Silver | Indian | ₹190,000 / kg | ₹200,000 / kg |
source:AUGMONT BULLION REPORT
International News
Significant Upside Trajectory In The Metals Sector
Precious Metals Surge on Geopolitical Optimism as Gold and Silver Rally, While Crude Oil Faces Downward Pressure Amid Ongoing US–Iran Developments
Gold rates and silver rates in India will be driven by global trends, as the Indian market is closed. Trading in commodities, including gold and silver, will be closed for half a day on April 14 at MCX.
We are seeing a significant upside trajectory in the metals sector, driven by recent geopolitical synergies:
- Gold Asset Class: Spot prices have achieved a value-add recovery, scaling past the $4,760/oz threshold.
- Silver Asset Class: Currently experiencing a high-growth phase, surging approximately 2% to reach a target density near $77/oz.
- Market Bandwidth: While the MCX interface is currently undergoing a scheduled half-day service window on April 14,
- Energy Sector Headwinds
Conversely, the energy vertical is facing downward scalability issues:
- Crude Oil Index: Both US WTI and Brent Crude are failing to gain leverage, currently underperforming by 2% and hovering around the $98/bbl mark.
Geopolitical Synergy & Risk Mitigation
The recent bullish momentum in precious metals is a direct byproduct of strategic bilateral engagement between the US and Iran. Key stakeholders are currently deep-diving into negotiations to extend the current truce framework.
- US Perspective: President Trump has acknowledged a proactive outreach from Tehran following the implementation of a naval blockade.
- Iranian Alignment: President Pezeshkian has signaled readiness to move the needle on peace discussions, provided all deliverables remain within the compliance framework of international regulations.
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