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
Significant Upside Trajectory In The Metals Sector
Precious Metals Surge on Geopolitical Optimism as Gold and Silver Rally, While Crude Oil Faces Downward Pressure Amid Ongoing US–Iran Developments
Gold rates and silver rates in India will be driven by global trends, as the Indian market is closed. Trading in commodities, including gold and silver, will be closed for half a day on April 14 at MCX.
We are seeing a significant upside trajectory in the metals sector, driven by recent geopolitical synergies:
- Gold Asset Class: Spot prices have achieved a value-add recovery, scaling past the $4,760/oz threshold.
- Silver Asset Class: Currently experiencing a high-growth phase, surging approximately 2% to reach a target density near $77/oz.
- Market Bandwidth: While the MCX interface is currently undergoing a scheduled half-day service window on April 14,
- Energy Sector Headwinds
Conversely, the energy vertical is facing downward scalability issues:
- Crude Oil Index: Both US WTI and Brent Crude are failing to gain leverage, currently underperforming by 2% and hovering around the $98/bbl mark.
Geopolitical Synergy & Risk Mitigation
The recent bullish momentum in precious metals is a direct byproduct of strategic bilateral engagement between the US and Iran. Key stakeholders are currently deep-diving into negotiations to extend the current truce framework.
- US Perspective: President Trump has acknowledged a proactive outreach from Tehran following the implementation of a naval blockade.
- Iranian Alignment: President Pezeshkian has signaled readiness to move the needle on peace discussions, provided all deliverables remain within the compliance framework of international regulations.
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