International News
Silver hovers at a 13-year high- AUGMONT BULLION REPORT
- Silver prices surged close to $37 (~Rs 107,000), hovering at its best levels in over 13 years due to robust demand for safe-haven assets amid trade and economic uncertainty throughout the world.
- The recent underperformance of gold, which caused investors to turn to other precious metals, also helped the commodity.
- Ahead of fresh US-China trade talks in London, markets were cautious, and poor Chinese export data lowered confidence.
- Silver profited from strong industrial demand, especially in solar energy applications, in addition to its use as a hedge.
- The Silver Institute reports that in 2024, the world’s supply of silver fell 15% short of demand, and this year is expected to have another shortfall, which will help to keep prices stable.
Technical Triggers
- Gold prices are expected to trade in the same range of $3275 (~Rs 95000) and $3425(~Rs 99000) in the near term.
- Silver has finally given a breakout from its range – above $35 (~Rs 102,000) to trade at an all-time high of $36.9 (~Rs 107,000) at exchanges. The next target is $38 (~Rs 111,000) if this positive momentum continues.
Support and Resistance
| Metal | Region | Support Level | Resistance Level |
|---|---|---|---|
| Gold | International | $3275/oz | $3425/oz |
| Indian | ₹95,000/10 gm | ₹99,000/10 gm | |
| Silver | International | $35.5/oz | $38/oz |
| Indian | ₹105,000/kg | ₹111,000/kg |
DiamondBuzz
Diamond Slump forces Debswana to diversify into copper, platinum and solar
Diamond-centric mining models is giving way to broader resource portfolios
Debswana Diamond Company, the 50–50 joint venture between the Botswana government and De Beers, is moving to diversify into copper, platinum and renewable energy as the prolonged downturn in natural diamond demand pressures earnings and forces the industry to rethink its growth strategy.
The company’s board has approved plans to invest in a portfolio of non-diamond projects after revenue fell 46% in 2024, the latest available financial year, highlighting the scale of the downturn in the global diamond market.
The move signals a strategic shift toward commodities with stronger long-term demand fundamentals, particularly copper, which is central to global electrification and energy-transition infrastructure.
Debswana’s diversification reflects a broader industry pivot as diamond producers confront weak consumer demand, rising competition from lab-grown stones and elevated inventories across the supply chain.
The shift is also visible among smaller exploration companies. Botswana Diamonds recently rebranded as Botswana Minerals, signalling its own strategic focus on copper exploration rather than diamonds.
Together, these moves underscore a growing consensus across the sector: the era of diamond-centric mining models is giving way to broader resource portfolios anchored in energy-transition metals.
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