Category: Beyond

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Gold near ₹2 lakh, Silver above ₹4 lakh

Gold and silver prices witnessed volatility in recent sessions after scaling record highs in the domestic market. Gold futures on the Multi Commodity Exchange (MCX) recently approached ₹2 lakh per 10 grams, while silver surged past ₹4 lakh per kilogram before witnessing profit-booking.

The pullback comes amid a firmer US dollar and shifting expectations around the US Federal Reserve’s rate trajectory. Stronger economic data from the US reduced immediate hopes of aggressive rate cuts, leading to some pressure on bullion prices. Market participants also trimmed positions after the sharp rally seen over the past few weeks.

Despite near-term fluctuations, analysts maintain a constructive outlook on precious metals. According to market experts, gold and silver could be entering a 3–5 year structural bull cycle supported by macroeconomic and sectoral fundamentals.

Central bank buying remains a key pillar for gold. Several global central banks continue to add to their gold reserves as part of diversification strategies, reinforcing long-term demand. Additionally, persistent geopolitical tensions and inflationary risks are sustaining gold’s appeal as a safe-haven asset.

Silver is benefiting from a dual demand dynamic. Alongside its role as a store of value, silver demand is being driven by industrial applications, particularly in renewable energy, electric vehicles, and electronics manufacturing. The expansion of clean energy infrastructure is expected to support medium- to long-term consumption trends.

Investment advisors recommend a disciplined approach. Rather than chasing elevated levels, investors are advised to accumulate on corrections. A strategic allocation of 5–10% of portfolio assets in precious metals is broadly considered prudent for diversification. Portfolios with disproportionately high exposure may warrant rebalancing.

Also Read: Sensex falls 400+ points, Nifty below 25,850

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US edits India trade deal factsheet

The White House has revised its factsheet on the proposed India-US interim trade deal, making key changes to language on agricultural imports, investment commitments and digital taxation following concerns flagged by New Delhi.

In the earlier version of the document, the US had stated that India would cut or eliminate tariffs on a list of American agricultural products, including tree nuts, fruits, soybean oil, wine, spirits and “certain pulses.” The mention of pulses,  a politically sensitive crop in India,  drew attention because India is the world’s largest producer and consumer of lentils, chickpeas and other pulses, and domestic farmers depend heavily on tariff protection.

In the updated factsheet, the specific reference to “certain pulses” has been removed. Instead, the language now broadly mentions improved access for a “wide range of US agricultural products,” without naming individual commodities.

Another notable revision relates to India’s proposed purchases of American goods. The original text said India was “committed” to buying more than $500 billion worth of US products over the next five years, including energy, coal and technology equipment. The revised version softens this to say India “intends” to purchase such goods, signalling that the figure is indicative rather than a binding obligation. Mentions of agricultural goods within this purchase commitment have also been omitted.

Changes were also made to the section on digital trade. The earlier draft suggested India would remove or roll back its digital services tax. The revised document now says both countries will work toward negotiating digital trade rules, bringing the language in line with prior joint statements.

Sources indicated that the corrections were made to accurately reflect what had been mutually agreed upon.

Also Read: Rupee declines 6 paise to ₹90.62 in early trade

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Rupee declines 6 paise to ₹90.62 in early trade

The Indian rupee edged lower in morning trade on Wednesday, falling 6 paise to ₹90.62 against the US dollar, as continued demand for the greenback and cautious global cues weighed on sentiment. The currency opened at ₹90.56 in the interbank foreign exchange market but slipped further during early deals.

Currency dealers attributed the decline mainly to sustained dollar buying by importers, particularly oil companies, which require large volumes of dollars to settle overseas payments. This demand for the US currency has kept the rupee under pressure in recent sessions.

The rupee had ended the previous session 10 paise higher at ₹90.56, recovering marginally after earlier weakness. However, the rebound was short-lived as fresh demand for dollars and cautious investor sentiment weighed on the domestic unit in early trade.

Global developments have also contributed to the rupee’s weakness. A firm US dollar in international markets, coupled with geopolitical concerns and uncertainty around trade-related matters, has affected emerging market currencies, including the rupee. Market participants remain watchful of developments related to India-US trade discussions, as well as global economic signals that could influence currency movements.

A weaker rupee has mixed consequences for the economy. On the positive side, it can make Indian exports more competitive in global markets, as goods priced in rupees become cheaper for foreign buyers. On the downside, it increases the cost of imports, especially crude oil and other essential commodities, which can add to inflationary pressures.

Also Read: Gold at ₹1,58,790, Silver slips to ₹2,89,900

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Beyond

Gold at ₹1,58,790, Silver slips to ₹2,89,900

Gold prices in India witnessed a marginal rise on Wednesday, while silver prices edged lower. The price of 24-carat gold increased by ₹10, taking the rate of 10 grams to ₹1,58,790 in key markets such as Mumbai and Kolkata. In Delhi, gold was priced slightly higher at ₹1,58,940, while Chennai recorded ₹1,59,050 for the same quantity.

Similarly, 22-carat gold prices also moved up by ₹10. Ten grams of 22-carat gold were priced at ₹1,45,560 in cities including Mumbai, Kolkata, Bengaluru and Hyderabad. In Delhi, the rate stood at ₹1,45,710, while Chennai saw a slightly higher price of ₹1,45,790.

In contrast, silver prices softened during the session. The price of one kilogram of silver fell by ₹100 to ₹2,89,900 in Delhi, Mumbai and Kolkata. In Chennai, silver continued to trade at a premium, priced at ₹2,99,900 per kilogram.

Market participants attributed the mixed trend to cautious investor sentiment and global economic cues. Gold continues to attract steady demand as a traditional safe-haven asset, especially during periods of uncertainty. However, the gains remain limited due to fluctuating global factors and profit booking at higher levels.

Silver, which has both investment and industrial demand components, tends to experience sharper price movements. The slight dip reflects subdued buying interest in the domestic market.

Also Read: Sensex up 50 points, Nifty holds above 25,950

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Gold ETFs attract ₹24,040 cr in January

Indian investors significantly boosted their holdings in gold exchange-traded funds (ETFs) in January 2026, pouring in ₹24,040 crore — more than double the inflows recorded in December 2025. This marks the strongest monthly inflow in five months and brings gold ETF investments nearly on par with net inflows into equity mutual funds during the same period.

Data from the Association of Mutual Funds in India (AMFI) shows that the broader category of precious metal ETFs, which includes silver products, drew a combined ₹33,503 crore in January. Silver ETFs also saw robust growth, attracting ₹3,962 crore compared with December’s lower levels. In contrast, equity funds experienced a slowdown, with net inflows of around ₹24,029 crore — down 14 % from December. Large-cap equity schemes gained slightly, while mid- and small-cap funds reported weaker flows, and some tax-saving ELSS schemes even saw net outflows.

Experts attribute the strong appetite for gold ETFs to a combination of global and domestic factors. Rising inflation, currency volatility, and ongoing geopolitical tensions have encouraged investors to seek safety in gold. Its appeal is further reinforced by liquidity, transparency, and cost efficiency, making ETFs a convenient vehicle for both retail and institutional investors.

“Investors are increasingly treating gold not just as a hedge, but as a core component of their diversified portfolios,” said a market analyst. The trend reflects a shift in investment priorities, with individuals seeking stability alongside potential returns, particularly during periods of market uncertainty.

The January data highlights a broader behavioural change in India’s mutual fund landscape. While equities continue to attract attention, gold and other precious metal ETFs are emerging as key instruments for managing risk and preserving wealth. As the market navigates economic fluctuations and global pressures, investors appear to be increasingly leaning toward assets that combine safety with growth potential.

Also Read: China urges banks to cut US treasury holdings

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US soybean prices drop as Brazil boosts supply

US soybean prices fell on Monday, stepping back from a recent rise that pushed them to multi-month highs. The main reasons were profit-taking by traders and an increasing supply from Brazil’s soybean harvest, which is putting downward pressure on global prices.

On the Chicago Board of Trade, the March soybean contract dropped from last week’s high of around $11.37 per bushel. Prices had jumped earlier after hints that China might buy more U.S. soybeans, which are a major export for American farmers.

However, China has not yet made large purchases. Brazilian soybeans are cheaper and more available, especially during their harvest season. This is making Chinese buyers prefer Brazilian soybeans over US supplies.

Brazil is expecting a record soybean crop this year, with strong exports already underway. These large supplies are reducing the need for China to buy more from the US, even with recent diplomatic talks encouraging sales.

US soybeans are still more expensive than Brazilian ones, which makes them less attractive for Chinese buyers, even though some small purchases have been made.

Other crops like corn and wheat also saw slight price drops, as there were no new factors to push prices higher.

Also Read: Trump’s chip tariffs may spare big tech, pressure TSMC

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China’s BYD challenges Trump’s tariffs at US court

Chinese electric vehicle and clean-energy major BYD has taken a significant legal step in the United States, filing a lawsuit against the federal government to challenge tariffs imposed by President Donald Trump.

The case, filed in the US Court of International Trade in New York, seeks refunds for import duties paid since April and questions the legal basis used to impose the levies. BYD’s US subsidiaries argue that the tariffs were introduced under the International Emergency Economic Powers Act (IEEPA), a law meant for national security emergencies, not for imposing broad trade barriers.

The emergency law does not explicitly allow the government to levy import tariffs. BYD is asking the court to order the repayment of duties already paid and to safeguard its right to future refunds if the tariffs are ruled invalid.

While BYD does not sell passenger cars in the US, it has a growing footprint in the country through its electric buses, trucks, batteries, energy storage systems and solar products. Its manufacturing facility in Lancaster, California, employs around 750 workers, making the company an active contributor to local jobs and clean-energy infrastructure.

The legal move places BYD among a rising number of global companies challenging Trump’s trade policies. The dispute also comes as the US Supreme Court considers a separate case that could ultimately decide whether emergency powers can be used to justify such tariffs.

For Washington, the case revives a sensitive debate around trade protectionism and executive authority. For BYD, it is both a financial and strategic decision, aimed at recovering costs while seeking clarity on the rules governing global trade.

Also Read: Balaji Krishnamurthy named Uber CFO

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Gujarat signs letter of intent with Starlink

The Gujarat government has signed a Letter of Intent (LoI) with Starlink, the satellite internet company owned by Elon Musk’s SpaceX, to provide high-speed broadband connectivity in remote, tribal and underserved areas of the state. The move is aimed at bridging the digital divide in regions where traditional telecom infrastructure is weak or unavailable.

The LoI was signed in Gandhinagar in the presence of Chief Minister Bhupendra Patel and Deputy Chief Minister Harsh Sanghavi. Senior officials from the state government and representatives of Starlink formalised the agreement, marking Gujarat as one of the first Indian states to explore satellite-based internet solutions at scale.

Under the proposed partnership, Starlink’s low-Earth orbit satellite technology will be used to deliver fast and reliable internet without dependence on fibre cables or mobile towers. This makes it suitable for hilly terrain, forest regions, coastal belts, border areas and islands, where laying physical infrastructure is challenging and costly.

The initial focus will be on connecting government schools, primary health centres, Common Service Centres (CSCs), e-governance offices, disaster management control rooms and remote administrative units. Officials said the project will support online education, telemedicine, digital governance, emergency response systems and public service delivery.

Tribal and aspirational districts are expected to benefit significantly, with improved access to digital learning tools, specialist healthcare consultations and government welfare services. The state also plans to explore satellite connectivity for ports, coastal security, wildlife sanctuaries, highways and industrial estates, especially in areas with patchy network coverage.

Also Read: FPIs return, pump ₹8,100 cr into Indian stocks

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Gold trades at ₹1,57,920, Silver at ₹3,00,100

Gold and silver prices in the domestic market recorded marginal gains in early trade on Tuesday, tracking cautious global sentiment and steady investor demand. Twenty-four carat gold rose by ₹10 to trade at ₹1,57,920 per 10 grams, while silver gained ₹100 to settle at ₹3,00,100 per kilogram, according to latest commodity market data.

The slight uptick in prices comes at a time when global markets remain volatile, with investors closely monitoring upcoming economic data from the United States, including inflation and employment numbers. Movements in the US dollar and expectations around interest rate decisions have also influenced bullion prices.

Across major Indian cities, gold prices remained largely uniform. In Mumbai and Kolkata, 24-carat gold was priced at ₹1,57,920 per 10 grams, while Delhi saw prices slightly higher at around ₹1,58,070 per 10 grams. Chennai continued to quote gold at a premium, with prices touching ₹1,59,830 per 10 grams.

Prices of 22-carat gold, commonly used for jewellery, also moved up by ₹10. The yellow metal was trading at ₹1,44,760 per 10 grams in cities such as Mumbai, Kolkata, Bengaluru and Hyderabad. In Chennai, 22-carat gold was priced at ₹1,46,510 per 10 grams, while Delhi quoted the metal at ₹1,44,910.

Silver prices showed modest strength but remained range-bound. The white metal was trading at ₹3,00,100 per kg in key markets including Delhi, Mumbai, Kolkata and Chennai. Market participants noted that silver prices continue to witness volatility due to fluctuations in industrial demand and global commodity trends.

In the international market, precious metals were trading on a weaker note. Spot gold slipped to around $5,016 an ounce, easing from recent record highs, while spot silver also saw mild pressure.

Also Read: Sensex rises 485 Points, Nifty crosses 25,850

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India pledges $175 mn economic support for Seychelles

In a significant move reflecting India’s commitment to regional development, Prime Minister Narendra Modi announced a $175 million special economic package for Seychelles, aimed at supporting the island nation’s key development priorities. The announcement came during a joint press briefing with Seychelles President Patrick Herminie in New Delhi, marking a milestone in the two countries’ long-standing diplomatic and economic partnership.

The package is designed to finance projects that will have a tangible impact on the daily lives of Seychellois citizens. Social housing projects will be a major focus, addressing the pressing need for affordable homes, while investments in electric mobility and vocational training aim to create new employment opportunities, particularly for young professionals. Health infrastructure and maritime security initiatives are also included, reflecting India’s holistic approach to development support.

“This package is about more than funds; it’s about empowering communities and strengthening Seychelles’ capacity for sustainable growth,” Modi said. Analysts note that such initiatives often generate long-term economic benefits, as improved housing, transport, and training contribute to workforce productivity and regional stability.

President Herminie, on his first state visit to India, expressed appreciation for the package, highlighting the strong historical ties and strategic partnership between the nations. He noted that India’s support demonstrates trust and a shared vision for economic resilience and regional stability in the Indian Ocean.

For businesses, this package signals a growing scope for Indian companies to participate in development projects in Seychelles, particularly in infrastructure, technology, and renewable energy sectors.

The agreement also includes capacity-building programs, including training Seychellois civil servants in India, and enhanced digital and trade cooperation, facilitating smoother economic and technological integration. Both governments emphasized that the package aligns with priorities identified by Seychelles and will support projects that directly impact citizens’ livelihoods.

Also Read: India clarifies $500bn US import figure