International News
Richemont’s Jewellery Sales Strengthen in H1 FY26 as China Shows Recovery
Resilient Demand Reinforces Richemont’s Prestige Position in Global Luxury
Richemont reported a strong performance in the first half of its fiscal year, driven by improving demand for luxury jewellery and a recovery in China. The Swiss luxury group — owner of Cartier, Van Cleef & Arpels, Buccellati, and Vhernier — saw sales momentum accelerate across key global markets.
Revenue from its four jewellery maisons rose 9% year-on-year to EUR 7.75 billion (USD 9 billion) for the six-month period ending September 30. Operating profit for the segment also increased 9% to EUR 2.54 billion (USD 2.95 billion).
The growth was supported by strong demand across regions for both jewellery and watch collections. Richemont also implemented selective price increases to offset rising metal costs, currency fluctuations, and the initial effects of US import tariffs.
- Regional Performance
- United States: Revenue jumped 15%, expanding the US share of total sales to 23%.
- Europe: Sales increased 12%.
- Middle East & Africa: Up 18%, reflecting strong luxury spending.
- Asia Pacific: Growth of 6%, driven partly by improving consumer sentiment in China.
- Japan: Sales declined 3%, with part of demand shifting to Hong Kong.
Richemont CEO Nicolas Bos highlighted stabilizing market conditions in China, with improved domestic spending and a notable return of Chinese luxury shoppers overseas. The company also observed a shift of sales from Japan back to Hong Kong during the second fiscal quarter.
Total Richemont group sales for the period increased 5% year-on-year to EUR 10.62 billion (USD 12.34 billion). Net profit surged nearly fourfold to EUR 1.81 billion (USD 2.11 billion), compared with EUR 457 million a year earlier — largely driven by the robust performance of its jewellery portfolio.
International News
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- Gold and silver surged to new all-time highs, with gold crossing $4,600 and silver moving past $86, as investors rushed toward safe-haven assets. The rally was driven by rising concerns over the independence of the U.S. Federal Reserve, escalating geopolitical tensions, and renewed trade-related uncertainty.
- Market sentiment was rattled after U.S. federal prosecutors reportedly threatened action against Fed Chair Jerome Powell over comments made to Congress regarding a building renovation project. Powell has described the move as a “pretext” aimed at pressuring the central bank to cut interest rates, raising serious concerns about policy independence.
- Geopolitical risks continue to mount, with the U.S. stepping up its involvement in Venezuela, President Donald Trump warning of possible military action amid unrest in Iran, ongoing conflict in Ukraine, tensions between China and Japan, and renewed insistence by the White House on acquiring Greenland. Adding to the uncertainty, Trump warned that any country doing business with Iran could face a 25% tariff on all U.S. trade.
- U.S. officials also confirmed that President Trump will be briefed on Tuesday on potential responses to Iran, including sanctions, cyber measures, and military options—keeping global risk sentiment fragile and supportive for precious metals.
Technical Triggers
- Gold has decisively broken above its earlier resistance at $4,570, opening the door to higher levels. The next key targets are $4,745–4,750 (78.6% Fibonacci extension, ~Rs. 1,46,000) and $4,966–4,970 (100% Fibonacci extension, ~Rs.1,52,500).
- Silver’s rally also looks set to extend further. Fibonacci projections point toward $88 (~Rs.2,78,000) and $93 (~Rs.2,93,000) in the coming weeks, while $70 remains a strong support zone.
Support and Resistance
| Metal | Market | Support Level | Resistance Level |
|---|---|---|---|
| Gold | International | $4,300 / oz | $4,750 / oz |
| Gold | Indian | ₹1,34,000 / 10 gm | ₹1,46,000 / 10 gm |
| Silver | International | $70 / oz | $88 / oz |
| Silver | Indian | ₹2,25,000 / kg | ₹2,78,000 / kg |
Source:Augmont Bullion Report
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