International News
US Mother’s Day jewellery spending expected to reach $6.8 Billion
US retailers are forecasting strong sales around Mother’s Day this year, with total spending expected to reach $34.1 billion, according to the National Retail Federation (NRF) and Prosper Insights & Analytics.The projected total is slightly higher than last year’s figure of $33.5 billion, though it falls just short of the record $35.7 billion spent in 2023.
More than eight in ten US adults (84%) plan to mark the occasion, with average spending per person estimated at $259.04. This represents a modest increase of around $5 per shopper compared with 2024.
Within that impressive total, jewellery stands out as a top-tier gift category. The survey forecasts that consumers will spend a staggering $6.8 billion on jewellery for Mother’s Day this year. This places jewellery as the leading category in terms of total expenditure, surpassing popular choices like special outings ($6.3 billion), gift cards ($3.5 billion), flowers ($3.2 billion), and greeting cards ($1.1 billion).
Consumers are planning to spend an average of $259.04 on Mother’s Day gifts and celebrations, an increase of about $5 from 2024, contributing to the growth seen across various categories, including fine and fashion jewellery.
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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