MCX data reveals April gold contracts eased 0.38% to ₹1,60,529/10g in intra-day trading, while March silver dropped 1.46% to ₹2,64,395/kg. This came after Wednesday’s 0.74% gain in gold and 3% jump in silver.

The pullback reflects classic profit harvesting, but downside was capped by external factors. US tariff policies under President Trump remain a wildcard, with 10-15% duties on imports fueling market unease.

Supreme Court deliberations add to the confusion, keeping trade talks in limbo and propping up demand for bullion. A 0.13% decline in the dollar index to 97.58 further aided affordability for international purchasers.

Geopolitical flashpoints are intensifying safe-haven flows. The upcoming US-Iran nuclear discussions in Geneva and Middle East military maneuvers underscore gold’s enduring appeal.

Fundamentally, precious metals outlook is robust. Comex gold oscillates in the $5,100-$5,300 band post-fluctuations. Silver could target $100-105 if it holds above $92-96 on Comex.

Key MCX supports for gold: ₹1,60,000/₹1,57,700; resistances: ₹1,62,500/₹1,64,000. Silver supports: ₹2,63,600/₹2,58,800; resistances: ₹2,74,000/₹2,80,000.

Experts predict choppy trading ahead, recommending profit realization on upticks and strategic accumulation on corrections. In an era of trade wars and regional strife, these metals’ allure persists.

The Wall Street Journal reports these duties, separate from Trump’s proposed global 15% levy, target vulnerabilities in the US power grid, manufacturing base, and communications networks. Section 232 empowers the president to act swiftly against perceived threats, bypassing standard trade rules.

India’s metal foundries, chemical giants, and auto parts makers stand vulnerable. Shipments of cast iron, plastics, and specialized chemicals—integral to global chains—could see duties spike, echoing the steel and aluminum tariffs that prompted India’s retaliation in 2018.

White House officials, including Kush Desai, vow unwavering commitment to economic fortification. ‘President Trump’s focus on national security drives every policy,’ Desai stated, hinting at aggressive use of trade laws.

While investigations under Section 232 demand rigorous review, implementation can be rapid and reversible at executive whim. The Court’s recent IEEPA smackdown didn’t touch this tool, leaving it primed for deployment.

Market watchers brace for uncertainty. India’s Commerce Ministry has yet to comment, but past disputes signal readiness for countermeasures. As Trump eyes his second term, these tariffs underscore a protectionist blueprint reshaping global commerce, with emerging economies like India navigating the fallout.

Effective for 150 days, this policy shift is seen as a catalyst for normalizing global commerce. ‘Emerging markets stand to gain immensely,’ Kampani stated. ‘A reduction to 10 percent exceeds our expectations of 18 percent.’

Previously fragmented tariff structures had created uncertainties, but a standardized 10 percent rate across nations fosters predictability. This alignment, Kampani noted, effectively resets trade dynamics to pre-disruption levels.

Despite the positivity, he advised vigilance. With ongoing domestic debates in the US, policy U-turns remain a risk. Stakeholders must watch closely as America navigates its internal challenges.

Kampani also highlighted the vibrancy of the 70-year-old AIMA conference, where leaders delved into critical topics spanning economics, finance, and geopolitics, reinforcing its role as a key platform for strategic dialogues.

The high court’s intervention struck down key elements of Trump’s tariff strategy, aimed at countering unfair trade practices from countries like China. Undeterred, Trump pivoted to other tools in his arsenal. ‘The Supreme Court rejected things wrongly, but we’ll use other options instead. We have very good options, and it might bring us even more revenue,’ he explained to reporters.

Highlighting the ruling’s flaws, Trump mocked its implications. ‘They say I can’t impose even one dollar of tariffs. This decision protects foreign nations over America – that’s not their job.’ He quickly shifted to his trump card: the power to terminate all commercial dealings with any country.

‘In other words, I can end trade with them completely. I can destroy their economy,’ Trump asserted. He challenged the court’s inconsistency, pointing out that licenses universally come with fees, yet this ruling bizarrely grants him sweeping powers to bar goods and sever ties.

This development raises alarms in international trade circles, where Trump’s rhetoric could reshape global supply chains. As he doubles down on economic nationalism, businesses and allies alike brace for potential disruptions, underscoring the high stakes of America’s trade battles.

American tariffs had long been a thorn in the side of Indian exporters, causing substantial losses. Bangladesh’s industry woes compounded the issue. Yet, the EU deal flips the script, eliminating duties and unlocking vast opportunities in garment exports where demand remains robust.

In an exclusive interview, Kailash Hakim of the Federation of Textile and Trade Association highlighted the government’s strategic resilience. ‘US policies failed against India’s smart diplomacy. Europe’s technical edge in textile machinery will revolutionize our operations,’ he noted.

Previously reliant on Chinese imports, Surat factories can now source cutting-edge European machines duty-free. This will enhance fabric quality and production speeds, aligning Indian output with international standards.

India supplied about 9% of Europe’s garments before; now, with zero tariffs, Surat’s expertise in synthetic fibers positions it for explosive growth. The local industry, a ₹150 lakh crore behemoth, drives immense national revenue post-agriculture.

Sushil Gupta labeled the FTA a pivotal moment, attributing success to PM Modi’s leadership. ‘It counters US tariff damages and accelerates exports,’ he said. Fellow trader Johnny Rathod emphasized the market access and machinery upgrades, expressing heartfelt gratitude to the Prime Minister.

Looking ahead, industry leaders predict a renaissance for Indian textiles. Stronger brands, higher exports, and technological leaps will cement Surat’s global stature, fostering economic prosperity for years to come.

The French leader’s post arrives amid heightened friction following President Donald Trump’s Saturday declaration. Trump outlined plans for 10% duties on imports from eight nations—including France, Denmark, and Germany—effective February 1, ramping up to 25% in June, explicitly linked to Greenland disputes.

Greenland, a vast autonomous region of Denmark with key Arctic positioning, hosts a US military installation. Trump has long coveted control of the island, reiterating ambitions since his 2025 inauguration.

Macron framed France’s stance within a broader commitment to global sovereignty. ‘Our decisions are guided by dedication to countries’ independence worldwide, aligned with UN principles,’ he stated. This commitment underpins support for Ukraine and alliances for enduring peace.

France’s involvement in Denmark-led drills in Greenland, Macron noted, safeguards vital European frontiers in the Arctic. ‘We own this choice fully—our continent’s security demands it.’

Dismissing pressures, Macron asserted resilience across fronts: Ukraine, Greenland, and beyond. ‘Tariff blackmail is off-limits. Should it proceed, Europe unites in response to preserve our sovereignty. Conversations with partners begin now.’

As transatlantic ties strain under Trump’s protectionist agenda, Macron’s words rally the continent. Analysts see this as a litmus test for EU solidarity, potentially reshaping trade dynamics and Arctic geopolitics. With stakes high, Europe’s leaders may soon convene to chart a defiant path forward.

Export figures paint a grim picture: shipments to the US dropped 35 percent in the past fiscal year, forcing over 500 units to scale back operations. ‘Tariffs have made our products uncompetitive overnight,’ lamented S. Murugan, a veteran manufacturer. Labor-intensive knitwear and hosiery, staples of Tirupur’s output, bear the brunt.

The human cost is staggering. An estimated 50,000 jobs have vanished, with women workers—who make up 60 percent of the workforce—particularly affected. Hostels stand empty, and remittances to rural families have dried up, straining household budgets across India.

Manufacturers are pivoting to domestic sales and alternative markets like Australia and ASEAN countries, but logistical hurdles and currency fluctuations complicate the transition. Tamil Nadu’s government has rolled out emergency aid, including power bill waivers and skill retraining programs, yet stakeholders call for bolder measures like anti-dumping probes.

Looking ahead, the industry’s resilience will be tested. With global apparel demand softening, Coimbatore-Tirupur must innovate in sustainable fabrics and automation to survive. Recovery hinges on diplomatic breakthroughs in trade negotiations.

The Reserve Bank of India’s policy meeting tops the domestic agenda. With growth moderating slightly, will Governor Shaktikanta Das opt for a rate cut to spur activity? Consensus points to no change, but forward guidance will be dissected for clues on future easing.

Q2 earnings reports from blue-chip firms promise fireworks. Expect detailed breakdowns from ICICI Bank, Infosys, and Maruti Suzuki, among others. Consensus estimates project tepid revenue growth due to weak consumer spending, but cost controls might surprise positively.

Overseas, Fed Chair Jerome Powell’s comments and non-farm payroll data could sway sentiment. A hotter-than-expected US jobs report might delay rate cuts, boosting the dollar and sucking liquidity from emerging markets. Geopolitical tensions in the Middle East keep oil prices on edge.

FIIs have pumped in over ₹10,000 crore this month, reversing October’s exodus. Yet, vulnerability persists if US 10-year yields climb further. DIIs remain steadfast buyers, providing balance.

From a technical standpoint, Nifty’s RSI shows oversold conditions, hinting at a potential rebound. Key resistance lies at 24,300-24,400. Volatility index India VIX is elevated, signaling choppy waters ahead.

Defensive sectors like utilities and healthcare may outperform amid uncertainty, while cyclical plays like autos and realty could lag. Watch for tariff-related headlines from Washington – any concrete announcements could trigger sharp moves.

Market veterans advise against chasing momentum. Instead, focus on quality stocks with strong balance sheets. Next week’s action will test the resilience of India’s bull run, with US tariffs as the pivotal swing factor.

President Lula emphasized India’s vast market opportunities and the multifaceted nature of their potential collaboration, envisioning cooperation spanning politics, space exploration, entrepreneurship, and economics. He expressed optimism about the strong existing rapport between the two nations and their populations, stating, “Therefore, we will create a strategic alliance with India and develop both Brazilian and Indian economies.”

Vice President Alckmin’s trip specifically focused on enhancing business ties and expanding the presence of Brazilian companies in India. He returned with positive developments, including the establishment of a Brazilian aerospace firm, Embraer, in India, the introduction of electronic visas to streamline business travel, and the formation of new strategic partnerships.

Alckmin underscored that India and Brazil are complementary markets rather than direct competitors. Addressing the possibility of these nations serving as alternatives amidst rising U.S. tariffs, he noted, “We are not going to compete on product, we are going to have economic complementarity.” He pointed to India’s robust economic growth, around seven percent annually, and Brazil’s record agricultural harvest as indicators of significant potential for collaboration in technology, industry, mining, and agriculture.

This alliance emerges against a backdrop of increasing trade barriers imposed by the United States. Both Brazil and India have faced substantial tariffs on their exports. Despite these challenges, economic engagement between the two nations continues to strengthen. Previous engagements, such as Prime Minister Narendra Modi’s visit to Brazil, set a target to increase bilateral trade to USD 20 billion within five years. In the fiscal year 2024-25, merchandise trade already reached USD 12.19 billion, establishing Brazil as India’s leading trade partner in Latin America and the Caribbean. This ambitious alliance promises a transformative partnership between two global democracies, poised to enhance trade, investment, and technological cooperation in a dynamic global economic landscape.