International News
Silver trades at a 14-year high on trade policy uncertainty AUGMONT BULLION REPORT
Due to trade policy uncertainties, silver has hit a 14-year high on global markets and a lifetime high on domestic markets, with a breakout trading above $37.5 (~Rs 110,000). In the face of growing trade tensions, demand for safe-haven assets drove gold’s price up to about $3340 (~Rs 97000).
- President Donald Trump indicated plans to impose blanket tariffs of 15–20% on the majority of foreign trading partners and declared a 35% tariff on Canadian goods beginning August 1. Additionally, President Trump announced this week in a letter to Brazil that the nation will be subject to a 50% duty on commodities imported into the United States.
- Concerns about longer-term inflation expectations were also aroused by Trump’s demand for a 300-basis point reduction in the Fed funds rate, which stoked rumours of a dovish Fed nominee the following year. Markets have priced in two rate cuts this year, but rate futures indicate that a hold is likely to be agreed upon at the next meeting.
Technical Triggers
- Gold continues to trade in the range of $3300 (~Rs 96250) and $3400 (~Rs 98500). If prices sustain below $3280 (~Rs 96000), weakness could further extend to $3200 (~Rs 94000).
- Silver has given a breakout of its range of $37.5 (~Rs 108,500) and $35.5 (~Rs 105,000). The next target is $38 (~Rs 111,000) and $40 (~Rs 115,000).
Support and Resistance
| Commodity | Support Level | Resistance Level |
|---|---|---|
| International Gold | $3280/oz | $3370/oz |
| Indian Gold | ₹96,000 / 10 gm | ₹97,700 / 10 gm |
| International Silver | $35.5/oz | $37.5/oz |
| Indian Silver | ₹1,05,000 / kg | ₹1,10,000 / kg |
International News
US Jewellery Companies Continued To Shrink In The Third Quarter:JBT
During Q3, Business Closures Dropped To 116 Compared To 126 In The Prior Year’s Third Quarter, Driven By 88 General Operational Cessations, 28 Acquisitions Or Mergers, and Zero Bankruptcies.
The number of active US jewelry companies continued to shrink in the third quarter, but at a slower pace than a year ago, according to the latest data from the Jewelers Board of Trade (JBT).The US jewelry industry continued its structural consolidation through Q3, though the pace of business closures showed signs of stabilizing compared to the previous year. Data from the Jewelers Board of Trade (JBT) reflects ongoing consolidation across retail, wholesale, and manufacturing, coupled with heightened credit volatility.
Key Data & Metrics
Nationwide, the active business footprint stands at 21,831 companies, reflecting a 1.4% year-over-year decline. During Q3, business closures dropped to 116 compared to 126 in the prior year’s third quarter, driven by 88 general operational cessations, 28 acquisitions or mergers, and zero bankruptcies. Meanwhile, new market entrants also slowed, with 67 new business openings recorded in Q3 down from 89 during the same period last year.
Sector-by-Sector Breakdown
| Sector | Active Count | YoY Change | Impact Summary |
| Retailers | 16,564 | -1.5% | Makes up the majority of the sector; experienced the largest net store count reduction. |
| Manufacturers | 2,061 | -1.7% | Steepest percentage decline among all segments. |
| Wholesalers | 3,206 | -0.9% | Relatively stable, holding the mildest contraction rate. |
Credit & Financial Health Trends
The JBT report highlights dynamic shifts in creditworthiness across US and Canadian businesses, signaling bifurcated financial health:
- Credit Downgrades: Jumped sharply to 1,655 (up from 620 in Q3 of the prior year).
- Credit Upgrades: Rose significantly to 1,480 (up from 551 in Q3 of the prior year).
While net business closures are tapering off, high numbers of simultaneous upgrades and downgrades point to a split market where resilient operators are strengthening their positions while vulnerable businesses face tighter financial pressures.
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