New Delhi— The impact of newly announced reciprocal tariffs by U.S. President Donald Trump is rippling through global commodity markets, triggering sharp declines in the prices of key commodities such as gold and crude oil.
According to the Indian Bullion Jewellers Association (IBJA), the price of 24-carat gold fell sharply on Monday by ₹2,613 to ₹88,401 per 10 grams, down from ₹91,014 on Friday.
Similarly, 22-carat gold dropped to ₹86,280 per 10 grams, while 18-carat gold is now priced at ₹78,680 per 10 grams.
Silver prices also experienced a significant dip. A kilogram of silver declined by ₹4,535 to ₹88,375, compared to its previous price of ₹92,910 per kg.
The fall in domestic gold prices mirrors a broader global trend. Internationally, gold prices have dropped from a record high of $3,201 per ounce to $3,060 per ounce.
Silver followed a similar trajectory, falling from $35 per ounce to around $30.40 per ounce.
Crude oil prices have also taken a hit amid mounting concerns over a potential slowdown in global economic activity following the tariff announcement.
On Monday, Brent crude was trading 2.12% lower at $64.24 per barrel, while West Texas Intermediate (WTI) crude fell 2.24% to $60.61 per barrel.
Since the announcement of the tariffs, crude oil prices have dropped nearly 14%. Analysts attribute this sharp decline to fears that escalating trade tensions—especially between major global economies—could weaken economic growth and reduce demand for oil.
In retaliation to Trump’s tariff measures, China announced on Friday that it would impose an additional 34% levy on U.S. goods. This move has further fueled investor concerns about the potential onset of a full-scale global trade war.
Although imports of oil, gas, and refined petroleum products have so far been exempt from Trump’s sweeping tariff policies, analysts warn that the broader trade conflict could still lead to higher inflation, slower economic growth, and intensifying international disputes—all of which are exerting downward pressure on oil prices. (Source: IANS)
