International News
US Watch and jewelry sales remain steady in March, overall increase of 0.4 percent
US Watch and jewelry sales remained steady in March, with a slight overall increase of 0.4 per cent, according to the latest US Department of Commerce figures. Jewelry sales rose slightly, while
Watch and jewelry sales in the US remained steady in March, with a slight overall increase of 0.4 per cent, according to the latest US Department of Commerce figures. Jewelry sales rose slightly, while watch sales dipped, as consumers opted for higher-priced items, but bought fewer of them.
In February overall sales increased by just 0.2 per cent and in January they fell by 1.0 per cent
The US government’s BEA (Bureau of Economic Analysis) reported a 0.7 per cent increase in consumer spending in March, the biggest increase for two years, but said it was largely driven by a rush to buy cars before US reciprocal tariffs forced prices up.
Watch and jewelry sales have been characterized by very modest increases in recent months, following on from a year of sustained growth – 10 per cent or more in some months – as shown below.
Reciprocal US tariffs – announced in April, then paused until July – will almost certainly hit sales, as producers forced to either absorb the costs or pass them on to consumers.
Safe Haven Dynamics – Gold and silver remain under pressure, hovering below key psychological levels of $5000 and $80 respectively, as investors stay cautious ahead of the Federal Reserve decision. Volatility in oil prices is complicating the inflation outlook, keeping real yields elevated and limiting upside in precious metals despite ongoing geopolitical risks.
Geopolitical Developments – Escalation in the US–Israel–Iran conflict, including strikes on energy infrastructure and disruptions in the Strait of Hormuz, has intensified supply concerns in oil markets. While such tensions typically support safe-haven demand, the inflationary impact of rising energy prices is delaying expectations of monetary easing, creating mixed signals for gold and silver.
Monetary Policy Stance – The Fed is expected to maintain a pause, reinforcing a “wait-and-watch” approach amid sticky inflation and a softening labor market. Similar policy stances by ECB, BoE, and BoJ indicate a synchronized global pause. The key trigger for metals will be forward guidance—any dovish tilt could revive bullish momentum.
Technical Triggers
Gold briefly broke the key $5000 (~Rs.157,000) support and short-term bias remains bearish, with strong support seen around $4850 (~Rs.150,000).
Silver has also slipped below $80 (~Rs.255,000), and a renewed break below $77 (~Rs.247,000) could trigger further profit-booking, dragging prices towards $70 (~₹230,000) in the near term.
Support and Resistance
| Metal | Market | Support Level | Resistance Level |
|---|---|---|---|
| Gold | International | $4850/oz | $5250/oz |
| Gold | Domestic | ₹158,500/10 gm | ₹165,000/10 gm |
| Silver | International | $77/oz | $85/oz |
| Silver | Domestic | ₹247,000/kg | ₹268,000/kg |
Source : AUGMONT BULLION REPORT
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