New delhi: The effect of the newly Announced Reciprocal Tariffs by Us President Donald Trump is Now Being Felt in the Global Commodity Markets, with Sharp Decclines Seen in the Prices of Key Commodities Like Gold and Crude oil.
According to the Indian Bullion Jewellers Association (IBJA), The Price of 24-CARAT GOLD on monday fell sharply by Rs 2,613 to Rs 88,401 per 10 grams, Down from 91,014 on Friday. Similarly, the price of 22-carat gold dropped to Rs 86,280 per 10 grams, while 18-karat gold is now priced at Rs 78,680 per 10 grams.
Silver price also took a hit. A Kilogram of silver declined by Rs 4,535 to Rs 88,375, compared to its previous price of Rs 92,910 per kg.
The Fall in Gold Pries is Largely Due to a Global Decline in Rates. The price of gold internationally has come down from its record high of $ 3,201 per oounce to $ 3,060 per Once.
A similar trend is seen in silver, which dropped from $ 35 per oounce to around $ 30.40 per oounce. Crude oil prices have also also also slumped amid concerns over a Slowdown in Global Economic Activity Folling The announcing of the trifs.
On Monday, Brent Crude was trading 2.12 per cent lower at $ 64.24 per barrel, While West Texas Intermediate (WTI) Crude Dropped 2.24 per cent to $ 60.61 per barrel. Since the tariff announs, crude oil prices have declined by Nearly 14 per cent. Experts say this sharp drop is driven by fears that the global economy, particularly trade Between Major Economies, May Slow Down, Which Cold Lead to Reduced Demand For Oil.
In response to trump’s tariffs announs, China on Friday said it would IMPOSE an additional 34 per cent levy on American goods, which reinforced investor concerens is now underway.
While imports of oil, gas, and refined products have been exampted from trump’s broad tariff measures, the new trade tensions clock still lead to higles, Sloater Economic Guth, and EconomicCaling Disputes – All of which are putting pressure on oil prisles, experts noted.