ADVERTISEMENT
In his characteristic style of unveiling executive orders, US President Donald Trump announced via social media that gold will not face tariffs, offering much-needed reassurance to bullion markets.
In a post on Truth Social, Trump wrote, “Gold will not be tariffed.”
Following the news on Monday evening, gold prices dipped globally.
This clarification came after the U.S. customs notice hinted towards a possibility of levies being imposed on gold bars in two standard weights—one kilogram and 100 ounces (about 2.8 kilograms).
Back home, the gold prices also slipped lower after the clarification. In Delhi, 10g of 24K (99.9%) gold is priced at ₹1,02,820, as of 8:30 AM, according to the India Bullion Association.
September 2025
2025 is shaping up to be the year of electric car sales. In a first, India’s electric vehicles (EV) industry crossed the sales milestone of 100,000 units in FY25, fuelled by a slew of launches by major players, including Tata Motors, M&M, Ashok Leyland, JSW MG Motor, Hyundai, BMW, and Mercedes-Benz. The issue also looks at the challenges ahead for Tata Sons chairman N. Chandrasekaran in his third term, and India’s possible responses to U.S. president Donald Trump’s 50% tariff on Indian goods. Read these compelling stories in the latest issue of Fortune India.
Trump has also announced a 90-day extension before implementing tariffs on China.
“I have just signed an Executive Order that will extend the Tariff Suspension on China for another 90 days. All other elements of the Agreement will remain the same. Thank you for your attention to this matter,” he wrote.
Fortune India is now on WhatsApp! Get the latest updates from the world of business and economy delivered straight to your phone. Subscribe now.