International News
U.S. Begins Refunding $166 Billion In Struck-Down Trump Tariffs
Diamond and Jewelry Shipments Poised For Early Payouts.
Importers who shelled out $166 billion in so-called Trump tariffs are getting their money back, with diamond and jewelry shipments poised for early payouts.
The U.S. Customs and Border Protection agency kicked off the refund program on April 20 through its new CAPE portal in the ACE system. High-value entries like diamonds and jewelry—hit by International Emergency Economic Powers Act duties ruled illegal by the Supreme Court in February—top the priority list, especially recent or unliquidated shipments from the past year.
Approved claims could yield refunds plus about 6% annual interest within 60 to 90 days, offering a cash-flow jolt for importers. The payouts exclude the separate 10% global tariffs imposed later under different laws.
Shipping giants FedEx and UPS are vowing to return refunded money to customers in the wake of a February court ruling.
International News
Global Bullion Markets Experience Downturn As US Fed Keeps Interest Rates Unchanged
Market Analysts Anticipate Continued Volatility In Precious Metals As Traders Digest The Fed’s Stance On Monetary Policy and Its Implications For Future Rate Trajectories
Global bullion markets experienced a downturn on Thursday as spot gold and silver prices each fell by nearly 1% following the U.S. Federal Reserve’s overnight decision to keep key interest rates unchanged. Domestic gold and silver prices in India are expected to reflect this global weakness throughout today’s trading session.
| Parameter | Details |
| Gold (MCX) Futures | ~₹1,43,600.00 – ₹1,43,724.00 per 10 grams |
| Silver (MCX) Futures | ~₹1,94,450.00 per kg |
| Key Contract Benchmark | December 2026 Gold Futures are hovering near ₹1,42,324 – ₹1,43,700 levels. |
| Spot Gold | Down ~1%, struggling around $4,044/oz. |
| Spot Silver | Down ~1%, trading below $53.50/oz. |
| U.S. Fed Policy Rate | Unchanged at 3.75% – 4.00%. |
In international markets, spot gold tumbled nearly 1% to trade near $4,044 per ounce, while spot silver dropped 1% to fall below $53.50 per ounce.
The market reaction follows the latest Federal Open Market Committee (FOMC) meeting, where policymakers voted to maintain the target range for the federal funds rate at 3.75% to 4.00% (3-3/4 to 4 percent).
In an official statement, the FOMC reaffirmed its commitment to supporting its dual mandate of maximum employment and price stability while continuing its policy of maintaining ample reserves within the banking system.
​Market analysts anticipate continued volatility in precious metals as traders digest the Fed’s stance on monetary policy and its implications for future rate trajectories.
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