Business

The Union Cabinet on Wednesday approved Aviation Turbine Fuel (ATF) Price Stabilisation Fund of Rs 10,000 crore which will be made available for domestic and international operations.

A recent surge in gold import duty has fueled a wave of smuggling, with illicit gold now available at discounts of up to Rs 10 lakh per kilogram. This creates a significant price disparity with legally imported bullion, mirroring trends seen after a similar duty hike in 2013. Industry experts warn of escalating unofficial imports.

The Union government is engaging with the US concerning a Section 301 investigation into forced labor and industrial capacity. The US Trade Representative has identified India among countries with inadequate measures against goods made with forced labor, proposing potential tariffs. This occurs amidst ongoing bilateral trade deal discussions.

Gold price prediction today: While gold and silver prices are seeing some weakness, in the domestic market gold has managed to exhibit some resilience, says Vedika Narvekar, Research Analyst – Commodities & Currencies, Anand Rathi Shares and Stock Brokers.

The US Trade Representative has proposed additional tariffs on goods from 54 economies, including India, over concerns about forced labor in supply chains. This move, stemming from a Section 301 investigation, could impact India’s exports, particularly those relying on Chinese inputs, despite existing domestic prohibitions on forced labor.

Both the Sensex and Nifty declined more than 1% as investor sentiment weakened amid growing concerns over the Iran-US conflict, continued foreign institutional investor (FII) outflows and a host of other market challenges.

The US has imposed sanctions on Iran’s largest cryptocurrency exchange, Nobitex, and its executives, accusing them of aiding the Iranian government and sanctioned entities in bypassing Western restrictions. This move, dubbed ‘Economic Fury,’ aims to increase economic pressure on Tehran amid ongoing conflicts.

The USTR released the outcome of 60 investigations conducted under Section 301, identifying India among 54 economies that, according to its assessment, do not have adequate measures in place to prohibit or effectively prevent the import of goods allegedly produced using forced labour.

Stock market recommendations: JSW Energy, Adani Energy Solutions, and IFCI have been picked by Mehul Kothari, DVP – Technical Research at Anand Rathi Shares as the top stocks that you can consider buying on June 3, 2026: