International News
Trump signs order to extend China tariff deadline for 90 days AUGMONT BULLION REPORT
President Donald Trump’s assurance that gold imports will not face tariffs eased price concerns, pulling rates below $3,400. The decision averts a potential 39% duty on gold bars, while investors now await key US economic data for cues on the Fed’s rate path
President Donald Trump’s announcement on Monday that gold will not be subject to tariffs allayed concerns about a dramatic rise in the price of importing the metal, causing prices to drop below $3400.
- According to a previous US Customs rule, imported 1-kilogram and 100-ounce gold bars from Switzerland would have been subject to a 39% tariff, which would have also applied to bars from any other nation under the current US tariff rates.
- Separately, the president issued an executive order that gives the US a further ninety days to lift its high tariffs on Chinese imports.
- For hints on the Federal Reserve’s interest rate trajectory, investors are now turning their attention to this week’s major US economic data releases, such as the CPI, PPI, and retail sales.
Technical Triggers
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)
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)
| Metal | Market | Support Level | Resistance Level |
|---|
| Gold | International | $3350/oz | $3480/oz |
| Indian | ₹98,500/10 gm | ₹1,01,000/10 gm |
| Silver | International | $37.5/oz | $39/oz |
| Indian | ₹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.
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