International News
Rupee breaks 90 per US dollar mark, supporting the precious metal rally AUGMONT BULLION REPORT
- The Indian rupee fell over the psychologically important 90 per US dollar threshold today, prolonging weakness in trade and capital flows, combined with concerns about a missed trade deal with Washington, keeping the currency under pressure.
- Gold and silver continue to rise as recent data indicates a gradual cooling of the US economy, combined with dovish signals from Fed policymakers, has bolstered market expectations for a 25-basis-point rate cut at the US central bank’s meeting next week, with traders pricing in an 89% chance of the move.
- According to the World Gold Council, central banks purchased 53 tons of gold in October, a 36% monthly increase and the most monthly net demand since the beginning of 2025.
- Investors are also monitoring November ADP employment report on Wednesday and the delayed September PCE Index, coming Friday, which is the Fed’s favored inflation barometer. Non-yielding gold usually benefits from lower interest rates.
Technical Triggers
- Gold has started its upward journey again; 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.
| Category | Support Level | Resistance Level |
|---|---|---|
| International Gold | $4200/oz | $4345/oz |
| Indian Gold | Rs 129,000/10 gm | Rs 132,000/10 gm |
| International Silver | $57/oz | $62/oz |
| Indian Silver | Rs 177,000/kg | Rs 191,000/kg |
US spot Gold prices climbed above $4,250 early Monday, touching a six-week high as investors turned cautious ahead of the upcoming US ISM Manufacturing PMI release. The yellow metal is poised for further upside momentum if it secures a sustained daily close above the crucial $4,250 resistance level.
The US Dollar opened December on a softer note, pressured by rising expectations that the Federal Reserve may announce a rate cut next week. Growing market confidence in easing monetary conditions has boosted the appeal of non-yielding assets such as gold.
Analysts note that a decisive break and close above $4,250 could reinforce bullish sentiment and pave the way for an extended rally in the days ahead. As global markets await fresh cues from the US economic calendar, gold continues to benefit from a favorable macroeconomic backdrop and robust safe-haven demand.
Rupee breaks 90 per US dollar mark, supporting the precious metal rally AUGMONT BULLION REPORT
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