Category: Beyond

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Gold slips to ₹1.61 lakh, Silver falls to ₹2.79 lakh

Gold and silver prices witnessed a slight decline in early trade on Tuesday, reflecting a minor correction in the bullion market after recent gains. The price of 24-carat gold slipped by ₹10 to ₹1,61,670 per 10 grams, while silver dropped by ₹100 to ₹2,79,900 per kilogram.

The price of 22-carat gold also fell marginally by ₹10, bringing it down to around ₹1,48,190 per 10 grams. Despite the small dip, gold continues to trade near record levels following strong demand in recent weeks.

Across major Indian cities, gold prices remained largely steady with only slight variations. In cities such as Mumbai, Bengaluru and Hyderabad, 24-carat gold was priced at around ₹1,61,670 per 10 grams. In Delhi, the price was slightly higher at about ₹1,61,820 per 10 grams. Chennai and Kolkata recorded relatively higher prices, with gold trading above ₹1,63,000 per 10 grams.

Silver prices also edged lower during the session. The white metal declined by ₹100 to ₹2,79,900 per kilogram in the domestic market. However, prices remain elevated compared with earlier levels, reflecting strong investor interest in precious metals.

The recent movement in bullion prices comes after a sharp rally driven largely by global uncertainties. Ongoing geopolitical tensions in the Middle East have pushed investors toward safe-haven assets such as gold and silver. During times of uncertainty, precious metals often attract higher demand as they are considered relatively stable investments.

At the same time, fluctuations in the US dollar and global commodity markets continue to influence domestic bullion prices. Market experts note that small corrections are common after a strong rally, as some investors choose to book profits.

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Kuwait cuts oil output due to Hormuz tensions

Kuwait has reduced its oil production and refinery operations after shipping activity slowed in the Strait of Hormuz, one of the world’s most important oil transit routes. The decision comes as rising tensions in the Middle East disrupt tanker movement and create uncertainty in global energy markets.

Officials said Kuwait took the step as a precaution because fewer oil tankers are currently able to pass safely through the strategic waterway. The slowdown in shipments has affected the flow of crude oil from the Gulf region to international markets.

The Strait of Hormuz connects the Persian Gulf with the Arabian Sea and is considered a crucial passage for global energy trade. Around one-fifth of the world’s oil supply normally moves through this narrow route. Any disruption there can quickly impact global oil prices and supply chains.

Recent tensions involving Iran, the United States, and Israel have increased security concerns in the region. As a result, tanker traffic has slowed significantly, prompting several oil-producing countries to reassess their production levels.

Kuwait, a member of the Organization of the Petroleum Exporting Countries, decided to scale back both crude production and refining operations until the situation becomes clearer. The move is aimed at avoiding excess supply while exports remain uncertain.

The disruption has already affected global oil markets. International crude prices have risen sharply, with Brent crude crossing $100 per barrel amid fears that prolonged tensions could further reduce supply from the Gulf region.

The situation could have wider economic consequences, especially for countries that rely heavily on imported oil. For example, India imports a large share of its crude oil from Gulf nations, and much of it passes through the Strait of Hormuz. Any prolonged disruption in this route could increase fuel costs and put pressure on the country’s economy.

The current developments highlight how geopolitical tensions in the Middle East can quickly affect global energy markets. If tanker traffic continues to remain slow, oil prices may stay elevated, potentially increasing inflation and energy costs worldwide.

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Rupee falls to 92.28 per dollar

Indian rupee weakened sharply against the US dollar on Monday. In early trade, the rupee fell about 46 paise to ₹92.28 against the US dollar, moving close to its all-time low levels. The decline came as global markets reacted to rising oil prices and increased uncertainty in the Middle East.

Forex traders said the main reason for the rupee’s weakness was the sharp rise in crude oil prices. Brent crude crossed the $100 per barrel mark, raising concerns about higher import costs for India. Since the country depends heavily on imported oil, any increase in global prices significantly raises demand for dollars from oil companies, putting pressure on the rupee.

The stronger US dollar also contributed to the fall in the Indian currency. During periods of global uncertainty, investors tend to move their funds into safer assets such as the US dollar, which leads to weakness in emerging market currencies like the rupee.

Market experts also pointed to foreign fund outflows and weakness in domestic equity markets as additional factors weighing on the currency. Indian stock markets saw heavy selling during the session as investors reacted to the spike in oil prices and geopolitical risks.

At the same time, government bond yields moved higher in the domestic debt market. Rising yields often reflect concerns about inflation and borrowing costs, especially when global commodity prices increase.

Traders said the Reserve Bank of India (RBI) is likely to keep a close watch on the currency market. If volatility increases further, the central bank may step in to stabilise the rupee by selling dollars from its foreign exchange reserves.

Analysts believe the rupee’s movement in the coming days will depend largely on global developments, particularly crude oil prices and geopolitical tensions. If oil prices remain elevated and global uncertainty continues, the rupee may stay under pressure in the near term.

Also Read: Gold slips to ₹1,63,630, silver falls to ₹2,84,900

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Gold slips to ₹1,63,630, silver falls to ₹2,84,900

Gold and silver prices declined slightly in domestic markets on Monday as a stronger US dollar weighed on bullion demand despite rising geopolitical tensions and higher crude oil prices.

In the national capital, 24-carat gold slipped by ₹10 to ₹1,63,630 per 10 grams, while 22-carat gold was priced at around ₹1,49,990 per 10 grams, according to market data. Silver also recorded a marginal fall, declining ₹100 to ₹2,84,900 per kilogram in major markets.

The small drop in precious metal prices comes amid volatility in global commodity markets. Analysts said the strengthening of the US dollar has reduced the attractiveness of gold and silver for international investors. When the dollar rises, bullion becomes more expensive for buyers using other currencies, which often leads to weaker demand.

At the same time, geopolitical tensions have increased following the ongoing conflict involving the United States and Iran. The tensions have pushed global crude oil prices sharply higher, with Brent crude crossing the $100 per barrel mark. Rising oil prices have triggered concerns about global inflation and economic uncertainty.

Normally, geopolitical tensions and economic uncertainty tend to boost demand for safe-haven assets such as gold. However, analysts say the strong dollar and expectations of higher interest rates have limited gains in bullion prices.

In the international market, gold prices also slipped during Asian trading hours, while silver registered sharper losses. Reports indicate that gold declined by more than 2 per cent globally, while silver dropped over 3 per cent as commodity markets reacted to the surge in oil prices and currency movements.

There is a close watch on the global macroeconomic developments, including the strength of the US dollar, inflation trends and crude oil price movements. These factors are expected to play a key role in determining the near-term direction of bullion prices.

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US loses 92,000 jobs in February 2026

The United States economy unexpectedly lost 92,000 jobs in February, raising concerns that the country’s labour market may be starting to weaken. At the same time, the unemployment rate rose to 4.4%, up from 4.3% in January, according to the latest government data.

Economists had earlier expected the economy to add new jobs during the month. Instead, the report showed a sharp drop in employment, suggesting that companies may be becoming more cautious about hiring.

Several sectors recorded job losses. The healthcare sector saw a significant decline in employment, partly due to labour strikes and disruptions in some medical services. Other industries such as manufacturing, transportation and information services also reported fewer jobs, reflecting slower business activity and economic uncertainty.

The data also showed that about 7.6 million people are currently unemployed in the United States. Meanwhile, the labour force participation rate, which measures the share of people either working or actively looking for work, remained around 62%.

Despite the fall in employment, wages continued to rise slightly. Average hourly earnings increased compared to last year, showing that some companies are still raising pay in order to keep workers. This suggests that while hiring may be slowing, demand for skilled workers remains relatively steady.

Some experts believe the drop in jobs may have been influenced by temporary factors, including strikes and severe winter weather that disrupted business activities in some parts of the country. However, others say the report could be a sign that the strong job market seen in recent years is gradually cooling.

The weaker labour data has also drawn attention from policymakers. The US Federal Reserve closely watches employment figures when deciding on interest rates and economic policy. A slowdown in hiring could increase pressure on the central bank to support economic growth.

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Qatar flags risk to global oil, gas supplies

Qatar has warned that energy exports from the Gulf region could be disrupted within weeks if tensions between the United States and Iran continue to rise.

Speaking about the growing conflict in the Middle East, Qatar’s Energy Minister Saad al-Kaabi said the situation could threaten the movement of oil and natural gas from the region to the rest of the world. If the conflict escalates further, shipping routes and energy facilities may become unsafe, forcing Gulf countries to temporarily stop exports.

The Gulf region plays a crucial role in the global energy market. A large share of the world’s oil and liquefied natural gas (LNG) passes through the Strait of Hormuz, a narrow but extremely important shipping route. Any disruption in this area can quickly affect global energy supplies and prices.

Qatar is one of the world’s largest exporters of LNG and supplies natural gas to several countries across Asia and Europe. Officials say the ongoing conflict has already created uncertainty for energy shipments in the region.

Energy experts warn that if the situation worsens, it could lead to serious disruptions in global oil and gas markets. A long conflict could push fuel prices higher and affect transportation, electricity costs and industrial production in many countries.

Countries that depend heavily on imported fuel could feel the impact the most. Higher energy prices could also increase inflation and make daily living costs more expensive for people around the world.

The warning from Qatar comes at a time when tensions in the Middle East remain high due to military actions and threats of further attacks. Governments and global markets are closely watching developments in the region.

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Domestic LPG up ₹60, commercial cylinders now ₹115

Cooking gas prices in India have increased after oil marketing companies raised the rates of domestic and commercial LPG cylinders. The price of a 14.2-kg domestic LPG cylinder has been increased by ₹60, while the cost of a 19-kg commercial cylinder has gone up by ₹115. The revised prices came into effect on March 7.

With the latest hike, the price of a domestic LPG cylinder in Delhi has risen to around ₹913 from ₹853 earlier. Similar increases have been reported in other major cities. In Mumbai, the price has gone up to about ₹912.50, while in Kolkata it has increased to around ₹939. In Chennai, a domestic LPG cylinder now costs roughly ₹928.50.

Commercial LPG cylinders, widely used by hotels, restaurants and small businesses, have also become costlier by ₹115. The increase is expected to push up operating costs for the hospitality sector and other businesses that depend heavily on LPG.

The price revision comes amid rising global energy costs linked to tensions in West Asia. Ongoing geopolitical developments in the region have disrupted energy supply chains and pushed up international fuel prices. As India imports a significant portion of its energy needs, global price movements often influence domestic fuel prices.

This is the first major LPG price revision in several months. Cooking gas prices were last revised in April last year, when domestic LPG cylinders were increased by ₹50. Since then, prices had remained largely stable.

India has more than 33 crore LPG consumers, making cooking gas one of the most widely used household fuels in the country. As a result, any change in LPG prices directly affects household budgets as well as the cost structure of several businesses.

While the latest hike may add to the financial burden on consumers, officials say supply of LPG across the country remains stable and there are no immediate concerns about shortages. The government and oil companies are closely monitoring the global situation to ensure adequate availability of cooking gas in the domestic market.

Also Read: US grants India 30-day Russian crude oil import

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US grants India 30-day Russian crude oil import

The United States has granted India a 30-day waiver to continue importing Russian crude oil that is currently stranded at sea, providing crucial short-term relief for Indian refiners. The waiver, effective until early April 2026, allows India to legally receive shipments already loaded onto vessels, helping to maintain uninterrupted fuel supplies amid rising global uncertainty.

The move comes against the backdrop of tensions in the Middle East, particularly around the Strait of Hormuz, a key route for international oil shipments. Disruptions in this region have created anxiety in global energy markets, with the potential to affect oil availability and pricing worldwide. By temporarily permitting these imports, the waiver gives Indian refiners time to adjust supply chains and manage domestic fuel demand.

US officials emphasized that the waiver is strictly short-term and limited to oil already in transit. It does not signal a broader relaxation of sanctions on Russian energy exports. At the same time, the waiver shows India’s role as a significant partner in global energy trade and highlights the delicate balance between meeting immediate domestic needs and navigating international regulations.

The decision also reflects India’s careful approach to energy security, ensuring that nearly 40% of its crude imports, which typically pass through the Hormuz route, are not disrupted. By securing a short-term supply while exploring alternative options, India is able to maintain stability in its domestic energy markets even amid geopolitical volatility.

Indian refiners have reportedly already begun arranging delivery of millions of barrels of Russian crude that had been awaiting clearance, ensuring that domestic fuel production remains unaffected. Analysts say the waiver provides logistical relief but does not change India’s longer-term energy strategy, which continues to focus on diversification of oil sources, including increasing imports from the United States.

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China raises defence budget to $275 bn

China has announced a 7% increase in its defence budget for 2026, raising military spending to around $275 billion. The announcement was made during the annual meeting of the National People’s Congress in Beijing.

Chinese leaders said the increase is part of the country’s long-term plan to modernise its armed forces and strengthen national security. The funds will be used to improve military training, upgrade weapons and equipment, and support the development of advanced defence technologies.

China already has the world’s second-largest military budget after the United States. The country has steadily increased its defence spending for many years as it works to build a more modern and capable military.

Officials said the higher spending will help accelerate the modernisation of the People’s Liberation Army. The government has set a target of transforming the military into a world-class force by the middle of the century.

The rise in defence spending comes at a time of growing geopolitical tensions in the region. China has been strengthening its military capabilities amid ongoing disputes in the South China Sea and increasing tensions related to Taiwan.

Apart from defence spending, the Chinese government also outlined its economic priorities for the year. Leaders set a GDP growth target of around 5% for 2026 as the country tries to stabilise its economy.

China’s economy has been facing several challenges in recent years, including weak domestic demand, a struggling property sector and uncertainties in the global economy. Despite these issues, the government says it will continue to support growth through investment, innovation and technology development.

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Rupee gains 55 paise to close at 91.6 per dollar

Rupee strengthened against the US dollar on Thursday, recovering from recent record lows after likely intervention by the Reserve Bank of India (RBI). The domestic currency appreciated by 55 paise to close at 91.6 per dollar, supported by dollar sales in the foreign exchange market.

During the trading session, the rupee touched an intraday high of around 91.41, as improved market sentiment and central bank action helped stabilize the currency. The rupee had earlier come under pressure after falling to a record low earlier this week amid global uncertainty and rising crude oil prices.

Currency traders said state-run banks were seen selling dollars in the market, a move widely believed to be on behalf of the RBI. Such intervention typically aims to reduce volatility and prevent excessive weakening of the domestic currency.

The rupee had weakened significantly in recent days due to global risk-off sentiment and escalating geopolitical tensions in the Middle East. These developments pushed investors toward safe-haven assets and strengthened the US dollar, putting pressure on emerging market currencies including the rupee.

Another key factor weighing on the currency has been the rise in crude oil prices. India is one of the world’s largest oil importers, and higher crude prices increase the country’s demand for dollars to pay for energy imports, which can weaken the rupee.

Forex analysts said the sustainability of the rupee’s recovery will largely depend on how global oil prices move in the coming days. If crude prices remain high, the currency could face renewed depreciation pressure despite RBI intervention.

The central bank’s support, however, helped restore some stability to the currency market and limited sharp fluctuations during the session. Improved sentiment in domestic financial markets also contributed to the rupee’s rebound.

Also Read: Gold falls ₹10 to ₹1,62,870, Silver slips to ₹2,84,900