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Gold and Silver staged a strong rebound on Tuesday, February 3rd, 2026, after a two-day sell-off. US Spot Gold climbed 3.12% to $4,946.80/oz, supported by renewed geopolitical concerns and uncertainty caused by the partial US government shutdown, which led to the suspension of key labor market data. Expectations of a potentially more hawkish Fed leadership also lifted safe-haven demand. US Spot Silver surged 6% to $85.33/oz as buyers returned after liquidation-led declines. The rebound confirms that the recent correction was technical in nature, with the broader bullish structure intact. Silver remains positioned for further upside, while USD/INR weakened on optimism around a US–India trade deal and domestic bullion premiums stayed elevated.
Gold prices surged sharply to fresh all-time highs, with US Spot Gold (XAU/USD) rising $70 or 1.36% to close at $4,831.38 per ounce, briefly touching levels near $4,890. The rally was driven by worsening global risk sentiment amid escalating EU–US tariff tensions, the Greenland geopolitical issue, and growing fears of a broader trade war. Safe-haven demand intensified as investors reacted to economic uncertainty and speculation that Europe could use its holdings of US stocks and Treasuries as leverage. From a technical standpoint, gold continues to trade in uncharted territory, hugging the upper Bollinger Band, with a sustained move above $4,868 likely to open the path toward $4,900 and potentially $5,000, while initial support is seen around $4,650. Silver underperformed gold, with US Spot Silver (XAG/USD) declining 1.57% to close at $93.09 per ounce as the recent parabolic rise paused. The pullback followed signs of easing geopolitical tension around Greenland and profit-taking, even as broader risk-off conditions, rising global bond yields, and concerns over inflation and central bank independence continue to provide underlying support. Technically, silver shows signs of consolidation as RSI moves out of overbought territory; a break below $90 could expose supports near $86.30 and $80.86, while a renewed push above the record high of $95.89 would be needed to extend gains toward the $100 level.
Gold and Silver prices eased on Thursday as geopolitical tensions softened. US Spot Gold (XAU/USD) slipped 0.23% to $4,616/oz, retreating from record highs after Trump toned down rhetoric on Iran and ruled out removing Fed Chair Powell, helping calm markets and reduce safe-haven demand. Technically, Gold is consolidating near the $4,610 level; while short-term momentum has weakened, the broader bullish bias remains intact as prices stay above key long-term moving averages, with $4,450–4,475 acting as an important support zone. US Spot Silver (XAG/USD) fell 0.95% to $92.39/oz, pressured by easing geopolitical concerns and the absence of new trade or tariff threats. Despite a sharp pullback from all-time highs, strong dip-buying emerged near $86–87, lifting prices back above $91. In the near term, Silver is expected to remain firm and trade above $90, awaiting fresh cues from geopolitical developments and macro data.
Silver surged to fresh all-time highs near the $60 level, significantly outperforming gold despite stronger-than-expected U.S. labor market data. U.S. spot silver jumped 4.3% to $60.66/oz after breaking above the key $58.60–$58.80 resistance zone, confirming a major bullish breakout. Although momentum indicators have moved into overbought territory, the structural breakout suggests further upside, with any dips toward $60 likely to attract fresh buying interest. The broader pattern supports a bullish consolidation below $62, with an extension toward $64 possible in the near term. Gold posted a more modest gain, with U.S. spot gold rising 0.41% to $4,207.91/oz. Strong ADP employment data and a rebound in ISM Services PMI reduced expectations for aggressive Fed easing, keeping gold in a consolidation phase. Technically, gold remains supported near $4,175, while a decisive break above $4,260 is needed to open the path toward $4,380. Despite short-term pressure from a firmer dollar, the overall structure remains resilient. Markets are now firmly focused on tonight’s FOMC interest rate decision and dot plot, which will be key in determining whether silver’s rally extends further and if gold can break out of its current range. In the physical Indian market, both gold and silver are trading at discounts to landed costs, while USD/INR softened slightly, offering marginal support to local bullion prices.
PMLA compliance has become a crucial pillar of trust in the jewellery industry, where customers value assurance and authenticity just as much as the products themselves. Under the Prevention of Money Laundering Act, jewellers handling cash transactions of ₹10 lakh or more—whether in one deal or multiple linked transactions—are classified as reporting entities. This requires strict adherence to KYC procedures, detailed record-keeping for at least five years, and reporting suspicious activities to FIU-IND.
By following these norms, jewellers demonstrate transparency through proper buyer verification, accurate invoicing, and avoidance of unverified cash dealings. This not only strengthens customer confidence but also enhances the brand’s credibility with regulators and banking partners, making financial institutions more willing to support and work with compliant businesses.
Strong compliance also protects jewellers from legal and reputational risks, promotes accountability within the organisation through regular AML/CFT training, and builds an ethical culture across teams. Moreover, alignment with global standards such as FATF guidelines positions the brand for international recognition, appealing to global buyers and investors who prefer regulated, trustworthy partners.
The jewellery industry is experiencing a major shift as digital gold and cashless transactions redefine how customers purchase and invest in precious metals. With digital platforms and apps, buyers can now invest in gold anytime, in any quantity, making transactions faster, more convenient, and fully transparent.
For jewellers, adopting digital gold and cashless payments not only improves customer experience but also simplifies accounting, reduces cash-handling risks, and ensures smoother regulatory and banking compliance. Since every transaction is traceable, maintaining accurate records becomes easier, supporting both domestic operations and export-related requirements.
By embracing these modern transaction methods, jewellers can reinforce trust and credibility among their customers. Cashless and digital transactions offer higher security and transparency, signalling professionalism and reliability. Integrating these solutions helps jewellers stay competitive, build long-term customer loyalty, and align with the rapidly evolving landscape of the precious metals market.
In September 2025, the precious metals industry entered a critical compliance phase as gold was formally recognised as an “asset class,” bringing jewellers directly under the strict provisions of the Prevention of Money Laundering Act (PMLA). All gold transactions must now be fully traceable, with hallmarking acting as a digital audit trail, and dealing in non-hallmarked jewellery becoming a punishable offence.
Jewellers are required to follow stringent KYC norms—full KYC for cash sales above ₹50,000, mandatory PAN for transactions above ₹2 lakh, and reporting aggregated monthly transactions above ₹10 lakh to FIU-IND. Even common practices such as jewellery exchanges or splitting bills within families can trigger compliance red flags if not properly recorded.
While the initial transition may feel demanding, adhering to PMLA protects jewellers from legal and financial risks, strengthens customer trust, and ensures long-term business sustainability in a sector increasingly under regulatory scrutiny.
In September 2025, the precious metals industry entered a critical compliance phase as gold was formally recognised as an “asset class,” bringing jewellers directly under the strict provisions of the Prevention of Money Laundering Act (PMLA). All gold transactions must now be fully traceable, with hallmarking acting as a digital audit trail, and dealing in non-hallmarked jewellery becoming a punishable offence.
Jewellers are required to follow stringent KYC norms—full KYC for cash sales above ₹50,000, mandatory PAN for transactions above ₹2 lakh, and reporting aggregated monthly transactions above ₹10 lakh to FIU-IND. Even common practices such as jewellery exchanges or splitting bills within families can trigger compliance red flags if not properly recorded.
While the initial transition may feel demanding, adhering to PMLA protects jewellers from legal and financial risks, strengthens customer trust, and ensures long-term business sustainability in a sector increasingly under regulatory scrutiny.
- Gold and silver ended last week on a bearish note, with both metals testing critical support levels amid sustained US dollar strength and cautious Fed commentary!
- Gold's struggle to stay above $3200, coupled with repeated pressure near the $ 3164 support, signals weakening momentum. A move below this range could push prices toward $3100!
- Silver is forming a bearish wedge pattern on the Daily timeframe, repeatedly testing the $ 32 level and bouncing back above it; failure to hold here increases the likelihood of a decline toward $31.43!
- Broader market sentiment is being shaped by geopolitical tensions, trade policy concerns, and inflation data, all of which have contributed to dollar resilience and precious metal softness!
- This week, several Fed officials deliver speeches about the developing economic scenario, which would offer more clues on the timing of interest rate cuts! A tentative timeline may be provided by one of the officials, which would lend support to Gold and Silver, and allow it to retest earlier highs!
- Gold (XAU/USD) rose to $3343.87/oz after touching $3353.20, but faced strong rejection above $3300 levels; technical pressure points to a likely retest of $3270 support soon.
- Silver (XAG/USD) closed at $33.158/oz, after modest gains; however, failure to sustain above $33.50 signals potential pullback toward $32.70, the key pivot level.
- COMEX Gold June '25 contracts fluctuated between $3278.0 and $3363.8, unable to hold highs, suggesting near-term downside unless macro data provides unexpected support.
- COMEX Silver May '25 contracts moved between $32.025 and $34.035, but repeated failures near $34.00 highlight resistance buildup, increasing risk of a reversal toward $32.00 support.
Summary
Gold lost traction, closing at $3317.15/oz, pressured by strong US corporate earnings and optimism around US-China trade—yet the metal clings to the $3300 level, with bulls eyeing GDP data for direction.
If US GDP beats 2.4%, gold may decisively slip below $3300, undermining its recent support zone, while a weaker print would likely reinforce gold’s safe-haven appeal and keep it buoyant above that level.
Silver’s struggle at $33 marks a battle zone, with sellers repeatedly capping gains—but solid dip-buying around $32.70 and trendline support from the $28.70 low suggests a tug-of-war before a decisive move!
A break below $32.70 in silver could accelerate losses, with momentum targeting $31.70, $31.50, and possibly the 200-day SMA below $31, confirming a bearish shift unless bulls reclaim $33.20+
Gold prices surged to a high of $3,500, fueled by market uncertainty following initial reports of former President Trump's intent to dismiss Fed Chair Jerome Powell.
However, the rally was short-lived as Trump dialed back his aggressive stance, prompting a swift correction in gold prices, which retraced to $3,320.
The sharp price movement reflects the market's sensitivity to political signals impacting monetary policy. Investors are advised to stay alert as volatility remains elevated.
#FinmetMarketWatch #GoldUpdate #MarketTrends #FederalReserve #TrumpNews #PreciousMetals #InvestmentInsights
- Gold prices jumped to $3343.10/oz as safe-haven demand surged due to Trump launching an investigation into tariffs on rare-earth imports, escalating trade tensions with China and weakening the US dollar.
- Technical indicators suggest gold is overbought, making pullbacks below $3200 reasonable, though the trend remains bullish unless geopolitical tensions de-escalate significantly.
- Key resistance levels are seen at $3400 and $3500, but potential exemptions on tech products from tariffs could cause short-term pressure on gold prices.
- Silver climbed 1.36% to $32.762/oz, supported by safe-haven flows and Fed Chair Powell’s comments emphasizing inflation risks and reducing hopes of near-term rate cuts.
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For a second consecutive week, the Iran-Israel war is the focus for markets, with Gold correcting
significantly last week due to a stronger US Dollar! Has the tide turned against Gold?
Catch this quick episode of the FINMET MONDAYS podcast to know more!
After a significant correction last week, Gold’s price outlook dramatically changed from the previous weeks!
Today, catch the latest episode of FINMET MONDAYS where we present the next possible price moves in the metal, along with detailing how the Chinese holiday could have impacted the correction!
Last Monday, we cautioned against Gold’s accelerating highs in our podcast and sounded alarms for a possible correction. And courtesy of easing trade tensions, we did see a significant pullback in US Spot Gold from the all-time highs of $ 3500! Today, catch the latest episode of FINMET MONDAYS where we break down last week’s developments in GOLD, followed by presenting the BULLISH and BEARISH scenarios that could form in the metal this week, with price TARGETS AND STOPS!
The Indian jewellery sector, known for its legacy and high-value transactions, has come under increased regulatory scrutiny. With the extension of the Prevention of Money
As jewellers come under the regulatory umbrella of the Prevention of Money Laundering Act (PMLA), understanding and identifying suspicious transactions has become critical. Being a
The Financial Intelligence Unit – India (FIU-IND) was established in November 2004 by the Government of India as an independent body under the Department of
In the high-stakes world of jewellery and bullion, staying ahead of anti-money laundering (AML) regulations isn’t just about compliance—it’s about safeguarding your business’s reputation and
FATF praises India’s PMLA, terror financing; asks to improve prosecution
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FinMet at the Malaysia Gold Conference 2026, Kuala Lumpur
FinMet was honoured to participate in the Malaysia Gold Conference 2026, a flagship global forum for the precious metals and gold industry, held on 2–3 February 2026 at the Sama-Sama Hotel, Kuala Lumpur. The conference brought together investors, regulators, policymakers, and industry leaders from across ASEAN and the Asia-Pacific to exchange insights on market trends and the future of precious metals. FinMet was represented by Sunil Kashyap and Pramod Mohan, who attended and spoke at the event, contributing to meaningful discussions and strengthening regional industry collaboration.
#FinMet #MalaysiaGoldConference2026 #KualaLumpur #PreciousMetals #GoldIndustry #ASEAN
🌟FinMet at the DMCC Dubai Precious Metals Conference 2025 at Atlantis Dubai.
Honoured to engage with global leaders, innovators, and policymakers shaping the future of the bullion ecosystem.
A proud moment as our MD, Sunil Kashyap, moderated the panel on Harmonising Standards: Bridging the Paper and Physical Markets Disconnect.
A valuable platform for insights, collaboration, and driving industry-wide progress.
#FinMet #DPMC2025 #Dubai #PreciousMetals #BullionIndustry #DMCC
🌟 Finmet at the 2025 Asia Pacific Precious Metals Conference | Singapore
Delighted to have been part of the 8th Edition of this prestigious event, connecting with global leaders, industry innovators, and partners driving the future of the precious metals ecosystem.
At Finmet, we remain committed to fostering trust, innovation, and excellence in bullion and precious metals trade.
#Finmet #PreciousMetals #Bullion #AsiaPacific #MetalTrade #Innovation #GlobalLeadership #Singapore2025 #PreciousMetalsConference
Bullionaire by FinMet
A Premier Leadership Workshop for the Next Generation of Bullion & Jewellery Professionals
Join FinMet in collaboration with
India Bullion and Jewellers Association Ltd
(IBJA)
Dubai Bullion & Refinery Group (DBRG)
Dubai Jewellery Group (DJG)
World Gold Council (WGC)
Finmet, in collaboration with the Coimbatore Jewellery, Manufacturing, and Bullion Association, successfully conducted a comprehensive seminar on the Prevention of Money Laundering Act (PMLA) in Coimbatore.
With over 150 jewellers in attendance, the session offered clarity on compliance requirements and practical insights into navigating PMLA — a critical need for the gem and jewellery industry today.
🔒 Regulatory awareness.
💼 Industry-focused solutions.
🌐 Trusted by the trade.
#Finmet #PMLA #JewelleryIndustry #ComplianceMatters #Bullion #Finmetals #CoimbatoreJewellers #RegulatoryAwareness #GoldIndustry #PMLASeminar #StayCompliant #FinmetEvents
FINMET proudly conducted the second LBMA Masterclass on Loco London in Mumbai on 22nd Feb 2025, bringing together key stakeholders from the precious metals industry, including refiners, traders, jewelers, analysts, logistics providers, commodity exchanges, brokers, and regulators.
The event fostered valuable discussions on global best practices, market dynamics, and strategies for navigating today’s evolving landscape. Industry leaders like Som Somasundaram , Ramakrishnan Padmanabhan, Sunil Kashyap, and Prem Nath shared critical insights, enriching the dialogue. It was inspiring to see young professionals engaging alongside seasoned experts, shaping the future of the industry.
With gold at lifetime highs and global trade models shifting, continuous learning is essential. We remain committed to driving industry growth, fostering collaboration, and promoting best practices. A special thanks to BRINKS for their support in making this event a success!
The Finmet team was honored to participate in the 10th Edition of the IIBS Event, organized by IBJA. It was a fantastic opportunity to engage with industry professionals, exchange insights, and strengthen our collective vision for growth & innovation in the precious metals sector.
The Finmet team was honored to participate in the 10th Edition of the IIBS Event, organized by IBJA. It was a fantastic opportunity to engage with industry professionals, exchange insights, and strengthen our collective vision for growth & innovation in the precious metals sector.
Networking, knowledge-sharing, and collaboration remain at the core of what we do, and we appreciate platforms like these that bring the industry together.
Looking forward to more such meaningful engagements!
#Finmet #BullionIndustry #GoldTrading #PreciousMetals #IBJA #IIBS #Networking #Innovation #Growth #Fintech #GlobalPartnerships
Strengthening the jewellery industry with seamless PMLA compliance! Our expert-led on-site training equips businesses to stay ahead of evolving regulations, ensuring trust, transparency, and growth. Stay compliant, stay
competitive!
“Strengthening the jewellery industry with seamless PMLA compliance! Our expert-led on-site training equips businesses to stay ahead of evolving regulations, ensuring trust, transparency, and growth. Stay compliant, stay competitive! #FinMet #PMLACompliance #JewelleryRegulations”
FINMET proudly conducted the second LBMA Masterclass on Loco London in Mumbai on 22nd Feb 2025, bringing together key stakeholders from the precious metals industry, including refiners, traders, jewelers, analysts, logistics providers, commodity exchanges, brokers, and regulators.
The event fostered valuable discussions on global best practices, market dynamics, and strategies for navigating today’s evolving landscape. Industry leaders like Som Somasundaram , Ramakrishnan Padmanabhan, Sunil Kashyap, and Prem Nath shared critical insights, enriching the dialogue. It was inspiring to see young professionals engaging alongside seasoned experts, shaping the future of the industry.
With gold at lifetime highs and global trade models shifting, continuous learning is essential. We remain committed to driving industry growth, fostering collaboration, and promoting best practices. A special thanks to BRINKS for their support in making this event a success!
The Dubai Precious Metals Conference 2024 brought together global leaders, innovators, and stakeholders in the metals and mining industry. As a strategic participant, FinMet actively engaged in key discussions shaping the future of precious metals, with a focus on transparency, sustainability, and evolving global trade trends.
Held in the heart of one of the world’s most dynamic trading hubs, the Dubai Precious Metals Conference 2024 served as a vital platform for addressing the most pressing challenges and transformative opportunities within the global precious metals sector.
FinMet‘s presence at the conference underscored its commitment to fostering responsible sourcing practices, driving digital innovation in trading mechanisms, and navigating the intricacies of global compliance standards. With panel discussions featuring top industry experts, regulatory bodies, and technology leaders, the event highlighted emerging trends such as blockchain traceability, ESG reporting frameworks, and the shifting dynamics of gold demand in Asian and Middle Eastern markets. Through its active participation,
FinMet reinforced its role as a forward-thinking entity that not only adapts to global market shifts but also helps shape the conversation on transparency, traceability, and sustainability in the precious metals industry. The conference served as a springboard for new collaborations and strategic insights that will continue to guide FinMet’s mission of delivering value with integrity and innovation.
Where tradition meets innovation! ✨🏅 FinMet Director Johnson Lewis visits the prestigious Perth Mint in Australia, gaining insights into their commitment to excellence and industry-leading practices in gold refining and minting. He also had a good meeting with Cameron Alexander General Manager Commercial Operations
Where tradition meets innovation! ✨🏅 FinMet Director Johnson Lewis visits the prestigious Perth Mint in Australia, gaining insights into their commitment to excellence and industry-leading practices in gold refining and minting. He also had a good meeting with Cameron Alexander General Manager Commercial Operations – #FinMet #GoldRefining #PerthMint #PreciousMetals
🌟 Finmet is heading to the 3rd India Silver Conference 2025! 🌟 Join us from 25-27 April at the stunning Radisson Blu, Palace Resort & Spa, Udaipur for insightful discussions on silver, market trends, and industry innovations. Let’s connect and shape the future of precious metals together!
FINMET at the 3rd India Silver Conference 2025
We were proud to be part of the 3rd India Silver Conference 2025, a premier event that brought together industry leaders, innovators, and experts to shape the future of the silver market.
Our team engaged in meaningful conversations around evolving investment trends, technology integration, and sustainable practices in the silver ecosystem. A special highlight was Mr. Johnson Lewis, Director at FINMET, who moderated a high-impact panel discussion on “Silver Investment Demand: Global Trends & Future Outlook.”
At FINMET, we remain committed to driving innovation, strengthening industry relationships, and enabling transparency across the precious metals value chain.
Together, we’re building a stronger, more resilient metals industry.
#Finmet #SilverConference2025 #PreciousMetals #SilverInvestment #Innovation #Leadership #GlobalMarkets #FinmetInAction #JohnsonLewis #SilverDemand
#Eventell
