International News
Richemont Outperforms Forecasts as Jewellery Division Drives Growth
Strong demand for Cartier and Van Cleef & Arpels boosts Richemont’s quarterly sales, offsetting weakness in watch segment.
Richemont, the Swiss luxury group behind Cartier and Van Cleef & Arpels, exceeded market expectations with a 7% rise in quarterly sales, driven by continued strength in its jewellery division. As global demand for high-end fashion softens, affluent consumers are still investing in fine jewellery—helping Richemont outperform many of its luxury peers.
For the fourth quarter ending in March, jewellery sales surged 11% year-on-year, more than compensating for an 11% decline in the group’s watch division, which has been affected by reduced luxury spending in China amid ongoing economic uncertainty and a slowing property market.
Overall, Richemont reported sales of €5.17 billion ($5.80 billion) for the quarter, a 7% increase in constant currency terms, surpassing the 6% rise forecast in a Visible Alpha consensus cited by HSBC.
According to JPMorgan analysts, Richemont’s strong jewellery performance highlights a strategic shift toward “the higher quality, more profitable and less cyclical part of the business.” This repositioning has helped the company remain resilient during a broader luxury sector slowdown.
Shares of Richemont rose 5% in early trading on Friday in response to the results.
Jewellery now represents the lion’s share of Richemont’s business, accounting for 54% of total sales—up from 36% in 2019—signaling the group’s successful pivot toward this high-margin category. “Richemont continued to gain significant market share in jewellery,” noted Jean-Philippe Bertschy, analyst at Vontobel, who praised the division’s “spectacular growth and profitability,” particularly when compared with luxury rival LVMH, owner of Bulgari and Tiffany & Co.
Still, analysts caution that Richemont is not immune to the global volatility affecting luxury demand, though its core clientele and focus on fine jewellery position it more defensively than brands reliant on fashion sales.
International News
Precious Metals Find Support On Ceasefire Optimism AUGMONT BULLION REPORT
Gold Is Trading At Y Oversold Levels Near The Critical Support Zone Of $4,300, Silver Testing Key Support In The $66–$67 Range
- Price Movement – Gold and silver are consolidating near key support levels as markets digest a fragile Israel-Iran ceasefire alongside mounting concerns over inflation and the prospect of further interest rate hikes.
- Geopolitical Developments – President Trump confirmed that both parties are pursuing an immediate ceasefire, with final negotiations advancing. Israel and Iran announced a mutual halt to hostilities following a direct appeal from Washington. However, Tehran cautioned that it reserves the right to resume strikes if Israeli operations against Hezbollah in Lebanon continue.
- Macro-economic Signals – CME FedWatch data shows markets now pricing a greater than 70% probability of a Fed rate hike by December. Investors are closely watching May’s U.S. CPI and PPI releases, due Wednesday, for clearer signals on the Fed’s policy trajectory. The European Central Bank is also widely expected to deliver a rate increase this week.
Technical Triggers
- Gold is currently trading at deeply oversold levels near the critical support zone of $4,300 (approximately Rs. 1,54,000). A technical rebound of 3–4% is anticipated from current levels, driven by bottom-fishing activity. However, a sustained break below this support would shift the near-term bias decisively lower, exposing the $4,000–$4,100 range (approximately Rs. 1,50,000–Rs. 1,51,500) as the next downside target.
- Silver is similarly oversold, testing key support in the $66–$67 range (approximately Rs. 2,40,000–Rs. 2,42,000). As with gold, a 3–4% technical recovery is the base case on dip-buying, but a confirmed sustainability below this support would accelerate selling pressure toward $60 (approximately Rs. 2,20,000) in the short term.
Support and Resistance
| International Gold Support Level International Gold Resistance Level Domestic Gold Support Level Domestic Gold Resistance Level | : $4300/oz : $4500/oz : Rs 154,000/10 gm : Rs 160,000/10 gm |
| International Silver Support Level International Silver Resistance Level Domestic Silver Support Level Domestic Silver Resistance Level | : $66/oz : $75/oz : Rs 240,000/kg : Rs 260,000/kg |
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