International News
Türkiye’s jewellery exports surge by 79.1% in February 2025
Türkiye’s jewellery exports soared to 861.6 million dollars in February, marking a significant 79.1 percent increase compared to the same period last year, according to data from the Turkish Exporters Assembly (TIM).
Jewellery exports accounted for 4.1 percent of Türkiye’s total exports, with the sector boasting a diverse product portfolio. Gold jewellery and jewellery articles led the exports with a total value of 714.5 million dollars, while other notable product categories included unprocessed or semi-processed gold, silver items, cultured pearls, precious stones, and watches.
The United Arab Emirates (UAE) emerged as Türkiye’s top market for jewellery exports, with shipments amounting to 411.7 million dollars in February. This positions the UAE as the most significant destination for Turkish jewellery. The USA, Switzerland, Hong Kong, and Kyrgyzstan followed with exports valued at 56.6, 53.4, 45.2, and 43.5 million dollars, respectively.
Exports to the UAE saw an exceptional rise of 275 million dollars in February, with other countries, including Switzerland, Kyrgyzstan, Libya, and Belgium, also registering notable growth. Türkiye exported 40.9 million dollars’ worth of jewellery to Libya and 13.3 million dollars to Belgium, reflecting the sector’s expanding global reach.
On a provincial basis, Istanbul remains the epicentre of Türkiye’s jewellery exports, contributing 605.8 million dollars to the total in February. Other major contributors included Çorum with 228.2 million dollars, followed by Trabzon (13.8 million dollars), Kastamonu (7 million dollars), Sakarya (2.9 million dollars), and Ankara (1.6 million dollars).
International News
Precious Metals Surge On Ceasefire Optimism AUGMONT BULLION REPORT
Geopolitical Optimism and Macro Shifts Drive Bullish Momentum
Safe-Haven Dynamics – Gold is expected to gain 1% and Silver 4% this week, marking a fourth straight weekly increase. This rise is driven by improving prospects of a permanent US-Iran ceasefire, which has reduced inflation concerns and lowered expectations of further central bank rate hikes.
- Geopolitical Developments– President Trump stated that Iran has agreed to key conditions: abandoning its nuclear weapons program, providing “free oil,” and keeping the Strait of Hormuz open. However, Iranian officials have not yet confirmed these terms. Separately, Israel’s cabinet convened on Wednesday to evaluate a potential ceasefire in Lebanon, over six weeks into its ongoing conflict with Iran-backed Hezbollah.
- Macro-economic Signals – Oil prices have dropped sharply on optimism surrounding a possible Iran deal, easing inflationary pressure, and reducing rate hike expectations. US traders currently assign a 29% probability to a 25-basis-point rate cut this year – a significant downward revision from earlier forecasts of two cuts before the conflict began.
Technical Triggers
- If Gold sustains above $4,850 (~ Rs. 1,55,000), the next upside resistance would be $5,000 (~ Rs. 1,60,000).
- As suggested earlier, Silver has given a breakout above $76.50 (~ Rs. 2,44,000), the next resistance would be $82 (~ Rs. 2,57,000) and $87 (~ Rs. 2,65,000) on continued strength.
Support and Resistance
| International Gold Support Level International Gold Resistance Level Domestic Gold Support Level Domestic Gold Resistance Level | : $4600/oz : $5000/oz : Rs 153,000/10 gm : Rs 160,000/10 gm |
| International Silver Support Level International Silver Resistance Level Domestic Silver Support Level Domestic Silver Resistance Level | : $70/oz : $82/oz : Rs 225,000/kg : Rs 257,000/kg |
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