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Silver touches record highs on safe-haven buying  AUGMONT BULLION REPORT

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  • Silver strikes a new high above $37 (~Rs 109,000) as investor tensions over the growing crisis between Israel and Iran boosted the market for safe-haven assets.
  • Iran and Israel fired additional missile strikes at each other on Wednesday as the air war between the two old adversaries entered a sixth day despite a call from U.S. President Donald Trump for Iran’s unconditional surrender.
  • Though consumer spending is currently underpinned by strong wage growth, U.S. retail sales fell more than anticipated in May due to a decline in motor vehicle purchases as the hurry to beat prospective tariff-related price spikes subsided.

Technical Triggers  

  • Gold prices are consolidating around record-high levels in the range of $3360(~Rs 99000) and $3475(        (~Rs 101,000).
  • Silver has crossed the $37 (~Rs 109,000) resistance. The next target is $38 (~Rs 112,000) if this positive momentum continues.

Support and Resistance

CategorySupport LevelResistance Level
International Gold$3300/oz$3500/oz
Indian Gold₹96,000/10 gm₹1,01,000/10 gm
International Silver$36/oz$38/oz
Indian Silver₹1,05,000/kg₹1,12,000/kg
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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

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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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