National News
MCX Gold, Silver Prices Rise Sharply
Gold Climbed Nearly 1% To Trade Around Rs 1,53,799, Silver Also Gained Nearly 1%, Trading At Around Rs 2,38,200
MCX gold and silver prices rose sharply on September 3, ending three consecutive sessions of losses.
Gold climbed nearly 1% to trade around Rs 1,53,799 per 10 grams, after touching an intraday high of Rs 1,54,248. Silver also gained nearly 1%, trading at around Rs 2,38,200 per kg, after reaching a high of Rs 2,39,575.
The rise followed a recovery in global bullion prices, supported by a weaker US dollar and lower Treasury yields. Spot gold moved above $4,400 an ounce, while silver rose above $66 an ounce
Spot gold is above $4,400 per ounce, while spot silver reclaimed over $66 per ounce mark. They are also up 1% each. On the other hand, Brent crude oil price dipped marginally to trade below $96 per barrel and US WTI crude oil is struggling below $91 per barrel.
National News
GTRI Flags Gold Import Surge Driven By UAE Tariff Concessions
GTRI Said The Figures Showed That The UAE Was Not Merely Another Supplier But Had Emerged As A Principal Driver Of India’s Rising Gold-Import Bill.
A sharp spike in India’s gold bar imports during the first quarter of the 2026-27 financial year has sparked serious economic concerns.
According to a warning report issued by the Global Trade Research Initiative (GTRI), the surging influx—largely driven by massive shipments from the United Arab Emirates (UAE)—threatens India’s current account deficit and directly undermines Prime Minister Narendra Modi’s recent appeal urging citizens to curb unnecessary gold purchases.
GTRI Founder Ajay Srivastava said the figures showed that the UAE was not merely another supplier but had emerged as a principal driver of India’s rising gold-import bill.
India’s total gold imports surged by 47.1% to reach $11.01 billion in the April–June 2026 quarter, up from $7.49 billion recorded during the same period in 2025.
The primary catalyst behind this dramatic increase is the UAE, which saw its gold exports to India more than double over the three-month period.
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