International News
Soft US CPI data fuels rate cut bets AUGMONT BULLION REPORT
Gold hovered near $3,400 as July CPI data boosted expectations of a September Fed rate cut, easing tariff-driven inflation fears. However, market sentiment was jolted by US Customs imposing duties on large gold bars despite Trump’s no-tax assurance.
- As investors considered the Federal Reserve’s rate forecast in light of the most recent CPI data, gold prices were circling $3400. Core inflation increased from 2.9% to 3.1% in July, while headline inflation was 2.7%, below the 2.8% prediction.
- Gold’s attractiveness increased as the data allayed worries about tariff-driven inflation and supported anticipations of a 25-basis-point Fed rate cut in September.
- Furthermore, despite President Trump’s declaration that there would be no tax, Customs and Border Protection shocked markets last week by placing 100-ounce and 1-kilogram gold bars under a customs code that imposes duties.
Technical Triggers
- After achieving the target of $3500 (~Rs 102,000), gold prices have retraced below $3400(~Rs 100,200) level. Prices are expected to consolidate for a while with a bearish bias towards $3350 (~Rs 98500)
- After achieving the target of $38.5 (~Rs 115,000), Silver prices have retraced to $37.5 (~Rs 113,000). Next support is $37(~Rs 111,000), while upside prices are expected to touch $39 (~Rs 115,000) again, if positive momentum continues.
Support and Resistance
| Metal | Support Level | Resistance Level |
|---|---|---|
| International Gold | $3,350/oz | $3,480/oz |
| Indian Gold | ₹98,500/10 gm | ₹1,01,000/10 gm |
| International Silver | $37.5/oz | $39/oz |
| Indian Silver | ₹1,12,000/kg | ₹1,14,500/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.
-
BrandBuzz16 hours agoThe Pearl Edit: Thoughtful Women’s Day Gifting by GIVA
-
BrandBuzz16 hours agoAugmont Launches SPOT 2.0: One Platform. Every Product. Efficient Business
-
BrandBuzz20 hours agoSenco Gold & Diamonds Launches “SHAPE OF YOU”- AI Application for Women’s Day Celebration
-
National News20 hours agoKushals Fashion Jewellery Curates Special Women’s Day Edit Celebrating Strength, Style and Self-Expression
JewelBuzz is Asia’s First Digital Jewellery Media & India’s No.1 B2B Jewellery Magazine, published by AM Media House. Since 2016, we’ve been the trusted source for jewellery news, market trends, trade insights, exhibitions, podcasts, and brand stories, connecting jewellers, retailers, and industry professionals worldwide.