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The Narendra Modi-led government increased customs duties on imports of precious metals, including gold and silver, from six per cent to 15 per cent, a move that comes after the Prime Minister's austerity push. He further said that consequential changes have been made to other items, including gold and silver doré, coins, and findings. 'India proactively responding to external risks' Historically, customs duty on precious metals have been calibrated in response to prevailing macroeconomic and external sector conditions.
President Donald Trump agreed to a two-week ceasefire with Iran, easing concerns over energy-driven inflation. Earlier in the session, bullion had surged more than 3% to its highest level since March 19. For silver, he suggests buying above Rs 2,36,000 with a stop loss below Rs 2,30,000, targeting Rs 2,42,000–Rs 2,45,000.
Going anywhere nice this summer?No, me neither, judging by the warning from the Ryanair boss, Michael O’Leary, that a global shortage of jet fuel caused by the Iran war may soon lead to cancelled flights.
What happened to gold and silver prices over the past week? After surging to a record high above $5,580 (€4,705) per ounce on Thursday, gold suffered its steepest one‑day decline in years on Friday, dropping.
Gold and silver prices extended their slide for a third consecutive session, with commodity-based ETFs experiencing significant drops of up to 20%. This decline followed record highs as investors booked profits and unwound positions, triggering broad market selling. The BSE imposed a 20% circuit limit on gold and silver ETFs to curb volatility.
