International News
Silver climbs to new high above $54 and US shutdown ends AUGMONT BULLION REPORT
- A budget bill to reopen the government was approved by President Donald Trump today, ending the longest closure in US history. With the support of almost all Republicans and a small number of Democrats, the bill was approved by the House in a vote of 222-209. In addition to providing funding for a few important agencies through fiscal year 2026, the agreement creates a new funding cliff in Congress on January 30.
- As investors sought to protect themselves against global concerns with precious metals, silver surged more than 5% to above $54, moving closer to an all-time high set last month and taking this week’s gains to about 12%. The USDA highlighted the significance of silver, copper, and metallurgical coal to the economy and national security by adding them to its list of “critical minerals” last week.
- After Japan’s new prime minister stated that she wants the central bank to take its time raising interest rates, the yen plunged to a record low against the euro and hovered at a nine-month low against the dollar.
Technical Triggers
- Gold continues its upside, crossing $4200, with next target resistance at $4300 (~Rs 130,000) with support at $4100 (~Rs 123,500)
Silver has touched record high prices crossing $54 (~Rs 164,000), now next target resistance lies at $55(~Rs 168,500) and $56 (~Rs 172,000) and support at $52.85 (~Rs 164,000)
Support and Resistance
| Category | Support Level | Resistance Level |
|---|---|---|
| International Gold | $4,100/oz | $4,300/oz |
| Indian Gold | ₹1,23,500/10 gm | ₹1,30,000/10 gm |
| International Silver | $52.85/oz | $56/oz |
| Indian Silver | ₹1,64,000/kg | ₹1,72,000/kg |
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.
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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