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 |
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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