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The president also hit India with a 50% tariff and threatened a 100% levy on foreign-made computer chips.
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Gold prices surged to a record Rs 1,02,155 per 10g on August 7 amid growing investor interest. Weak U.S. data, policy uncertainty, and tariff fears are fueling the rally, with analysts projecting 45% more upside.
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Zerodha CEO Nithin Kamath criticized the high Securities Transaction Tax (STT), noting it's higher than brokerage income and discourages trading in cash and futures. He said reducing STT and increasing intraday leverage could boost volumes. Kamath linked STT changes to a surge in options trading and called for balanced reforms.
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