International News
Silver retraces down on margin hike pressure AUGMONT BULLION REPORT
- Following a parabolic run that saw silver reach a high of $84. on December 29, the market had a severe correction, losing more than 15% of its value in just 48 hours.
- The upheaval started in earnest during the holiday-shortened trading week in late December. On December 26, 2025, the CME Group published Advisory No. 25-393, which raised the initial margin for March 2026 silver futures from $22,000 to $25,000.
- The CME Group acted again, seeing a potential systemic danger as volatility indicators reached levels not seen in almost a decade. On December 30, 2025, the exchange announced a second, harsher raise, increasing margins by 30% to $32,500 per contract.
- When the New York floor opened on the last day of the year, a tsunami of forced liquidations had hit the tape. Investors who had entered the market at $80 were confronted with margin calls they could not satisfy, triggering a cascade sell-off those wiped billions of dollars in paper riches in a matter of hours.
Technical Triggers
- Gold prices are expected to consolidate in the range of $4320 (~Rs 134,000) and $4420 (~Rs 137,000) after this sharp rally and sell off this week.
- Silver prices are expected to consolidate between $70 (~Rs 223,000) and $76 (~Rs 242,000), after the sharp rally and sell off this week.
Support and Resistance
| Metal | Market | Support Level | Resistance Level |
|---|---|---|---|
| Gold | International | $4300 / oz | $4420 / oz |
| Gold | India | ₹134,000 / 10 gm | ₹137,000 / 10 gm |
| Silver | International | $70 / oz | $76 / oz |
| Silver | India | ₹223,000 / kg | ₹242,000 / kg |
Source: AUGMONT BULLION REPORT
International News
India-UAE Jewellery Dialogue Draws 200+ Stakeholders, Reinforces Trade Confidence
GJEPC and UAE Leadership Reaffirm Commitment To Market Resilience and “Business Beyond Borders.”
- The India-UAE Gems & Jewellery Dialogue -Boosting Confidence, held on 2 April 2026 at Taj Business Bay, Dubai, saw strong industry participation, underscoring continued optimism in bilateral trade. The event was organised under the patronage of the Embassy of India in the UAE, the Consulate General of India in Dubai, and the GJEPC.
The high-level gathering brought together over 200 stakeholders across the jewellery value chain, including manufacturers, retailers, wholesalers, and policymakers from both countries. Among the dignitaries present were H.E Mohammed Ali Rashed Lootah, President & CEO Dubai Chamber, H.E. Ahmed Al Khaja, CEO Dept of Economy & Tourism, H.E. Jumal Al Kait, Asst Undersecretary Ministry of Foreign Trade, Tawhid Abdullah, Chairman Dubai Jewellery Group. Speakers highlighted the resilience of the UAE’s jewellery ecosystem and pointed to expanding opportunities for integration with Indian manufacturers.
Delivering the keynote, H.E. Dr Deepak Mittal, the Ambassador of India to the UAE, reaffirmed the Government of India’s continued support for the sector and emphasised the UAE’s strategic importance as a partner under the India-UAE Comprehensive Economic Partnership Agreement (CEPA).
Hon’ble Consul General Satish Kumar Sivan stressed the need for unity and confidence within the trade amid shifting global dynamics. In his welcome address, Mr Sabyasachi Ray, Executive Director, GJEPC, outlined GJEPC’s focus on strengthening exports and deepening engagement across the GCC through collaborative initiatives.
Key discussions reaffirmed the strength of India-UAE trade ties in gems and jewellery, sustained confidence in the UAE market despite global uncertainties, and the need for closer coordination between government, trade bodies, and industry. Participants also recognised the India Jewellery Exposition Centre (IJEX) as a critical platform enabling market access in the region.
The dialogue concluded with a shared commitment to deepen cooperation, strengthen trust, and drive growth in bilateral jewellery trade, with GJEPC reiterating its focus on facilitating “Business Beyond Borders.”
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