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Below the Quote on Gold Commentary by Mr. Manav Modi, Senior Analyst, Commodity Research at Motilal Oswal Financial services Ltd.

Gold and Silver prices continued to face turmoil, and hit their lowest levels in more than three weeks, as a wider market sell-off triggered by U.S. President Donald Trump's tariff measures impacted bullion traders. Gold and Silver dropped more than 3% on Friday as investors sold off bullion to cover their losses from a wider market meltdown as an intensifying trade war sparked concerns of a global growth slowdown. After a blanket tariff announcement by US President Trump all markets languished, however, more than 50 nations have reached out to the White House to begin trade talks since Trump rolled out sweeping new tariffs, top officials said over the weekend as they defended levies that wiped out nearly $6 trillion in value from U.S. stocks last week. China struck back at the U.S tariffs imposed by Trump with a slew of counter-measures including extra levies of 34% on all U.S. goods and export curbs on some rare-earths, deepening the trade war between the world's two biggest economies. The European Union agrees on a first set of countermeasures targeting $28 million worth of US imports. Federal Reserve Chairman Jerome Powell said tariffs increased the risk of higher inflation and slower growth, highlighting the difficult path ahead for policymakers at the U.S. central bank. Focus this week will be on RBI interest rate decision and US CPI and PPI data.

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