Gold & Silver Prices Surge as Trump’s Russia Sanctions Impact Global Markets and Reliance

Global markets reacted sharply after US President Donald Trump announced new sanctions on Russian oil giants Rosneft and Lukoil, a first in his second term. The move has impacted major oil importers, including India’s Reliance Industries, while precious metals like gold and silver witnessed price volatility.

Trump’s Sanctions on Russia

• The sanctions target Rosneft and Lukoil, Russia’s major oil producers, over the ongoing Ukraine conflict.

• Trump’s statement emphasized hopes for a reasonable resolution from both Russia and Ukraine.

• This policy shift has rattled global markets, creating uncertainty in oil and commodity prices.

Impact on India and Reliance Industries

• Reliance Industries is in focus as a major oil importer potentially affected by rising global crude prices.

• Indian stock markets, however, continue their festive rally, driven by optimism around a US-India trade deal.

• Sectors like IT, pharma, and textiles are seeing strong gains, while domestic demand surges during the Diwali season.

Diwali Sales and Domestic Consumption

• Retail sales crossed ₹5.4 trillion, aided by GST cuts and a push for Swadeshi products.

• The festival-driven consumption has provided a strong boost to market sentiment, supporting the equity rally.

Defence Sector Deals

• Several major contracts were signed, including for Bharat Forge, Adani PLR, Bharat Electronics, and JBM Auto, highlighting growth in domestic defence manufacturing.

Precious Metals

• Gold and silver prices reacted to global uncertainty, with investors seeking safe-haven assets amid geopolitical tensions.

The combination of Trump’s sanctions, domestic festive consumption, and sectoral gains is shaping a unique market scenario for India, balancing global risk with local optimism.