US SC's tariff ruling: How stocks, gold, silver are affected
What's the story
The US Supreme Court has struck down the reciprocal tariffs imposed by the Donald Trump administration on its trading partners. The ruling is likely to have a major impact on the Indian stock market, gold, and silver rates. Market experts also believe that this decision will bring relief to Indian exporters who are heavily dependent on the US market.
Market reaction
Major victory for Indian exporters
The US Supreme Court's decision has sparked positive sentiment, with the Indian stock market likely to open on a positive note on Monday. The Gift Nifty closed about 200 points higher than the Nifty 50 close, signaling optimism on Dalal Street after this ruling. Seema Srivastava of SMC Global Securities said that this decision is a major victory for Indian exporters who were struggling under tariffs imposed under the International Emergency Economic Powers Act (IEEPA).
Price forecast
Impact on gold and silver prices
The ruling, however, injects renewed uncertainty into global trade policy, which could impact gold and silver prices. US President Donald Trump has publicly criticized the US Supreme Court's decision and announced a new 10% global tariff, reaffirming his commitment to protectionist trade policies. Sugandha Sachdeva of SS WealthStreet said these evolving trade dynamics, along with heightened geopolitical tensions, continue to support safe-haven demand for gold and silver.