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Gold futures opened lower at MCX due to Trump's new tariffs, while silver saw a slight increase. Market volatility is expected this week amid dollar index fluctuations and upcoming US trade deal deadlines. Experts suggest monitoring key support and resistance levels for both gold and silver, with potential buying opportunities on dips for silver.
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Geoff Dennis, an Independent EM Commentator, dismisses the notion of BRICS posing a currency threat to the US, despite China's desire for a stronger RMB. While some de-dollarization exists, Dennis believes Trump's perception of any overseas collaboration as anti-American is a key factor.
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The newly announced tariff, set to take effect on August 1, is slightly lower than the 37% rate initially proposed in April. Nevertheless, it remains well above the standard 10% baseline and is likely to affect Bangladeshs competitiveness in the global garment supply chain.
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News and Media
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