Travellers to Dubai have long bought gold from the middle-eastern destination as the yellow metal costs less there than in India. Especially for Indians, who not only see gold as a safe haven investment, but buy it heavily for cultural reasons such as weddings, there is always an eye out for cheaper gold.
Jewellers margin set to take a hit as gold leasing rates surge
The gold leasing rates by leading jewellery firms have shot up sharply as a tariff scare from the Trump administration has prompted global banks to secure the precious metal, leading to a supply crunch in India, among the top consumers of the metal.
Castrol India shares soar 11% as Saudi Aramco eyes BP’s lubricant business
The shares of Castrol India today soared 11% to an intraday high of Rs 246.80 on the BSE in Thursday’s trade on reports that Saudi Aramco is potentially considering a bid for BP Plc’s lubricant business.
Gold prices hit a weekly high of $2,930, now awaiting US data and Trump’s tariff news
Gold prices has entered a brief phase of upside consolidation as buyers take a breather before the next leg higher. The buying interest around the bright metal remains unabated amid sustained US Dollar (USD) weakness as increased odds of further interest rate cuts by the Federal Reserve (Fed) due to US economic slowdown concerns.
Reciprocal tariffs: Trump eyes ‘making America prosper again’ from April 2, while India has cause for concern
US President Donald Trump slammed India’s import duties in his first speech to a joint session of Congress on Wednesday. Trump specifically targeted India’s tariffs on automobile imports saying, “India charges us auto tariffs higher than 100 per cent.”
Zelensky urges immediate talks with US
Ukrainian President Volodymyr Zelensky reiterated his country’s willingness to engage in peace negotiations, emphasising that Ukraine does not seek an “endless war.” Writing on X (formerly Twitter), Zelensky stated, “Ukraine is ready to come to the negotiating table as soon as possible to bring lasting peace closer. Nobody wants peace more than Ukrainians.”
Crude Oil prices slide on Ukraine aid pause, tariffs and OPEC+ output increase
Crude oil prices continued to fall in on Tuesday after U.S. President Donald Trump paused military aid to Ukraine and as markets braced for U.S. tariffs on Canada, Mexico and China to take effect.