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Now Reading: DNA TV Show: Did gold prices fall due to Donald Trump’s statements?

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DNA TV Show: Did gold prices fall due to Donald Trump’s statements?

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DNA TV Show: Did gold prices fall due to Donald Trump’s statements?

DNA TV Show: Did gold prices fall due to Donald Trump’s statements?

IO_AdminUncategorized19 hours ago8 Views

ANALYSIS

The turmoil in the bullion market emerged after a White House official reportedly suggested last week that the Trump administration would issue a new policy clarifying whether gold bars would face import taxes.

DNA TV Show: Did gold prices fall due to Donald Trump's statements?

TRENDING NOW

US President Donald Trump ruled out imposing tariffs on gold, following which, the price of gold fell down drastically. The pace of gold price had crossed Rs 25,000 in 2025 itself, but this decision of Trump suddenly reduced the price of gold by Rs 1,500. However, gold is still above Rs 1 lakh.

In a post on the social media platform Truth Social, Trump wrote that tariffs will not be imposed on gold. After his announcement, there was a sudden sharp fall in the price of gold in the international market, and it fell 2.48 per cent to close at USD 3,404.70 per ounce.

If we look at the change in gold prices in the domestic market, then according to the website of Indian Bullion Jewellers Association IBJA.Com, the price of 24 carat gold on Monday was Rs 1,00,201 per 10 grams, but by the time the trading in the market closed, it fell below Rs 1 lakh and closed at Rs 99,957.

Talking about the price of different carats of gold on August 12, the price of 18-carat gold was Rs 76,050 per 10 grams. 22-carat gold is being sold at Rs 92,950 per 10 grams today. But 24-carat gold is being sold at Rs 1,01,400 per 10 grams.

Last week, US customs authorities issued a letter saying that gold bars at two standard weights — one kilogram and 100 ounces (2.8 kilos) — should be classified as subject to duties. The turmoil in the bullion market emerged after a White House official suggested last week that the Trump administration would issue a new policy clarifying whether gold bars would face import taxes.

According to commodities market experts, speeches from some US Fed officials will play a key role in driving the near-term US Dollar price dynamics and provide some meaningful impetus for the direction of bullion prices. Meanwhile, silver prices slumped by Rs 2,000 to Rs 1,12,000 per kilogram (inclusive of all taxes) on Tuesday. It had settled at Rs 1,14,000 per kg on Monday.

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