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Silver chases new record $66 on mixed US jobs report AUGMONT BULLION REPORT

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  • Silver reached new all-time highs of $66 (~Rs 205,000) after a mixed US jobs data pushed investors to seek other assets delivering higher yields to mitigate risk.
  • While the US economy added 64,000 jobs in November, exceeding expectations, the unemployment rate was 4.6% last month, despite the 43-day government shutdown affecting the figures. This has reinforced expectations for up to two interest-rate cuts in 2026, with approximately 59 basis points of easing priced in for the following year.
  • The US dollar Index has reached a two-month low, making greenback-priced bullion more affordable for international purchasers. Benchmark 10-year U.S. Treasury yields decreased following an unexpected uptick in the jobless rate last month.
  • Investors are now expecting speeches from key Fed officials on Wednesday, as well as the highly anticipated November consumer inflation report on Thursday, for additional guidance.

Technical Triggers        

  • Gold is expected to trade in the range of $4300 (~Rs 133,000) to $4380(~Rs 135,000) this week. Buy on dips around support to book profits around resistance.
  • Silver has finally crossed $65 (~Rs 201,000) mark. The next resistance level to watch for is $67 (~Rs 208,000). Until prices are trading above $62 (~Rs 194,000), the uptrend is expected to continue. 

Support and Resistance

MetalMarketSupport LevelResistance Level
GoldInternational$4380/oz$4300/oz
GoldIndian₹133,000 / 10 gm₹135,500 / 10 gm
SilverInternational$62/oz$67/oz
SilverIndian₹194,000 / kg₹208,000 / kg
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International News

GJEPC Auckland Visit Targets Growth In India-NZ Jewellery Trade

The Opportunity In New Zealand Is Significant Relative To The Current Level Of Jewellery Trade. India’s Gem and Jewellery Exports To New Zealand Rose 50.56% To US$25.46 Million In FY2025-26, From US$16.91 Million In FY2024-25.

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The GJEPC trade delegation’s Auckland programme has highlighted the scope for expanding India’s gem and jewellery exports to New Zealand as the two countries move towards implementing their recently concluded Free Trade Agreement (FTA).

The Auckland visit was part of GJEPC’s Australia and New Zealand trade delegation, held from 20-26 August 2026, with the delegation focused on connecting Indian manufacturers and exporters with buyers and industry stakeholders across the two markets.

The opportunity in New Zealand is significant relative to the current level of jewellery trade. India’s gem and jewellery exports to New Zealand rose 50.56% to US$25.46 million in FY2025-26, from US$16.91 million in FY2024-25.

The recently concluded India-New Zealand FTA is expected to create further opportunities for Indian exporters. New Zealand has committed to duty-free access for Indian exports across 100% of its tariff lines once the agreement enters into force.

On 26th August, Vijay Mangukiya, Convener – International Events, GJEPC and leader of the delegation, met Dr. Madan Mohan Sethi, Consul General of India in Auckland. Mangukiya has said the delegation was aimed at bringing Indian manufacturers and exporters closer to buyers and industry stakeholders in both Australia and New Zealand, with the objective of identifying new business opportunities and developing long-term partnerships.

The delegation’s Auckland market visits covered a broad cross-section of the local jewellery sector, including Michael Hill, Wallace Bishop, Hardy Brothers, Prouds, and Partridge Jewellers. The delegation also observed international luxury and contemporary jewellery brands including Van Cleef & Arpels, Roberto Coin, Messika and FOPE, reflecting the competitive environment in which Indian exporters would be seeking to establish or expand relationships.

India’s exports of individual jewellery categories to New Zealand also recorded strong growth in FY2025-26. Gold jewellery exports rose 84% to US$17.47 million, while silver jewellery exports doubled to US$0.91 million. Lab-grown diamond exports rose 2% to US$0.63 million, and imitation jewellery increased 13.16% to US$0.43 million. Cut and polished diamond exports were US$5.76 million.

The figures underline the growing contribution of finished jewellery to India’s New Zealand business. With the FTA expected to improve market access and the Auckland market showing demand across gold, diamonds, coloured stones, pearls and branded jewellery, GJEPC’s delegation is seeking to convert this existing growth into deeper commercial relationships.

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