DNA TV Show: Are Donald Trump’s Statements Driving Gold Prices Down?

Quick Summary

• US President Donald Trump announced on Truth Social that tariffs will not be imposed on gold, leading to a sharp decrease in global gold prices.
• Gold prices fell by 2.48% in the international market, closing at USD 3,404.70 per ounce.
• In India, prices of 24-carat gold dropped below Rs 1 lakh per 10 grams, reaching Rs 99,957 after trading closed.
• Domestic rates for different carats:

– 18-carat gold: Rs 76,050 per 10 grams.
– 22-carat gold: rs 92,950 per 10 grams.
– 24-carat gold: Rs 1,01,400 per 10 grams (new rate reported today).

• Background turbulence occurred as US authorities suggested certain standard weights of gold bars might face duties before Trump’s ruling clarified otherwise.
• silver also experienced a slump in price by rs 2,000 to settle at Rs 1,12,000/kg inclusive of taxes.

Indian Opinion Analysis

India’s bullion market closely reacts to global cues like changes in US policies or fluctuations in the Dollar valuation as it heavily depends on imports for its precious metals supply chain. The recent drop in India’s domestic rates for both gold and silver may provide temporary relief to consumers but also adds unpredictability for jewelers and investors reliant on stable pricing dynamics.

Furthermore, events like these highlight how external geopolitical factors impact India’s commodity markets directly without any local intervention-underscoring the importance of tracking international developments for policy-makers and industry professionals here at home.

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!Gold prices affected by policy announcements

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