Gold and silver prices continued to face heavy pressure on the MCX on Friday, with both metals opening sharply lower as weak global cues and a stronger US dollar dampened sentiment. The decline marked the second straight session of losses, undoing most of the gains made during a short-lived rebound earlier in the week amid a broader sell-off in global technology stocks.Silver futures for March 5 delivery on the MCX saw the sharpest fall, sliding 6% or Rs 14,628 to Rs 2,29,187 per kg. Gold futures for April 2 delivery also slipped, falling Rs 2,675 or 2% to trade at Rs 1,49,396 per 10 grams.Internationally, gold prices showed mixed movement. Spot gold edged up 0.4% to $4,790.80 per ounce as of 0224 GMT, though it was still down 1.4% on a weekly basis. US gold futures for April delivery declined 1.7% to $4,806.50 per ounce. Silver prices remained largely flat at $71.32 an ounce after suffering a steep 19.1% fall in the previous session. Earlier on Friday, silver had dropped as much as 10%, slipping below the $65 level to hit its lowest point in over one-and-a-half months.

Adding to the volatility, the MCX implemented further margin hikes on precious metal contracts. After raising margins on silver futures by 4.5% and on gold futures by 1% with effect from February 5, the exchange imposed an additional margin of 2.5% on silver futures and 2% on gold futures from Friday. This has taken the total additional margin requirement to 7% for silver futures and 3% for gold futures from February 6 onwards.Higher margin requirements increase the amount of capital traders need to maintain, often leading to a cutback in speculative and leveraged positions. In volatile markets, this can prompt profit booking or forced unwinding of positions, particularly in silver contracts, thereby exerting further pressure on prices or increasing intraday swings.Manoj Kumar Jain of Prithvi Finmart told ET that market participants are closely monitoring developments around the US–Iran nuclear deal talks, which could influence the direction of precious metals. He said gold and silver are currently witnessing very high price volatility. According to him, silver may find support near $65 per troy ounce, while gold could hold support around $4,440 per troy ounce on a weekly closing basis.Jain also said volatility is likely to persist during the session due to fluctuations in the dollar index, the partial shutdown in the US, and ongoing geopolitical tensions. He pegged gold’s support levels for the day at $4,770–$4,640 per troy ounce, with resistance at $4,955–$5,050, as cited by ET. For silver, support is seen between $71.20 and $64.00, while resistance lies in the $84.40–$88.80 range.On the MCX, Jain said gold has support at 150,500–147,700 and resistance at 154,200–155,800, while silver is supported at 225,000–212,000 with resistance at 254,000–264,000. He advised investors to stay away from precious metals markets until stability returns.(Disclaimer: Recommendations and views on the stock market, other asset classes or personal finance management tips given by experts are their own. These opinions do not represent the views of The Times of India)

CHENNAI: At least eight people, including a budding Tamil actress and an assistant director in the Tamil film industry, were arrested on Thursday after the Anti-Narcotics Intelligence Unit (ANIU) South team seized methamphetamine and ganja from them in Valasaravakkam. Police said Anju Krishna has acted in the Tamil film Vellimalai and in a few Malayalam films, while Vincy Nivetha worked as an assistant director in a Tamil film.Following a tip off received by inspector Johnny Chellappa of the ANIU (South) team, police apprehended Vigneshwaran, 33, of Nesapakkam and questioned him. During interrogation, he said he procured narcotic substances from Venkatesh Kumar, 31, of Kovur near Porur.

Police sent a decoy customer to Venkatesh Kumar and intercepted him when his car came near a landmark in Valasaravakkam. Police then searched the car and arrested him along his associates Karthik Raja, 31, of Kovur, Yashwanth, 25, of Kattupakkam, Sriram, 33, of West Mambalam, Alvibinsha, 27, of Kovilambakkam, Vincy Nivetha, 26, of Vadapalani, and Anju Krishna, 30, of Vadapalani.Police also seized six grams of methamphetamine, 7 grams of OG ganja, 15 grams of ganja, a smoking bong, a stamp, and nine mobile phones. The arrested people and the seized materials were handed over to the Valasaravakkam police for further investigation.They were all produced before a magistrate court in the city and remanded in judicial custody.

MUMBAI: The RBI is proposing to compensate customers for losses arising from small-value digital frauds, with payouts of up to Rs 25,000, as part of a broader overhaul of consumer protection rules amid rising risks from mis-selling, cyber fraud and aggressive loan recovery practices. The e-fraud compensation will be for 85% of the loss amount or Rs 25000 whichever is less and will be a once-in-lifetime benefit for those who have lost money including those who have shared one-time passwords.Governor Sanjay Malhotra said the central bank has reviewed its 2017 framework on limiting customer liability in unauthorised electronic banking transactions, citing rapid technological adoption in banking and payments since then. “Accordingly, the draft revised instructions, including a framework for compensation in case of small value fraudulent transactions, shall be issued shortly for public consultation,” he said.Malhotra said that ideally customers should learn from the mistakes of others but in the case of first-time victims, RBI has decided to compensate 70% of the amount with the balance 30% of the loss being equally borne by the bank and customer.Alongside digital frauds, the Reserve Bank of India is tightening norms to curb mis-selling of financial products by regulated entities. Malhotra said mis-selling has “significant consequences for both customers as well as the regulated entity,” and stressed the need to ensure that third-party products sold at bank counters are suitable for customers and aligned with their risk appetite. “There is a felt need to ensure that third party products and services that are being sold at the bank counters are suitable to customer needs and are commensurate with the risk appetite of individual clients,” he said.To address this, the RBI plans to issue comprehensive instructions covering advertising, marketing and sales of financial products and services. “The draft instructions in this regard shall be issued shortly for public consultation,” the governor said.The central bank will also review and harmonise rules governing loan recovery and the engagement of recovery agents, an area that has drawn frequent customer complaints. At present, different categories of regulated entities follow different conduct-related instructions. “It has now been decided to review and harmonise all the extant conduct related instructions on engagement of recovery agents and other aspects related to recovery of loans,” Malhotra said, adding that draft norms will be released for public feedback.The proposed measures signal a sharper regulatory focus on consumer protection as financial institutions expand digital offerings and distribution of third-party products.

In a move that has sent shockwaves through the cricketing world, India’s T20I captain Suryakumar Yadav has confirmed that the Men in Blue are pressing ahead with their preparations for the ICC T20 World Cup 2026, regardless of Pakistan‘s threat to boycott their marquee clash. The rivalry, often the crown jewel of any global tournament, is currently mired in a diplomatic stalemate after the Pakistan government directed its team to skip the February 15 fixture in Colombo.

Suryakumar Yadav sets the record straight on Pakistan’s potential boycott of T20 World Cup 2026 fixture

Speaking with characteristic composure at the pre-tournament captain’s press conference on February 5, 2026, Suryakumar addressed the elephant in the room with absolute clarity. He emphasized that India is adhering strictly to the ICC-approved schedule and has no intention of backing away from the high-stakes encounter.

“Our mindset is very clear. We haven’t said no to playing them; they are the ones who’ve said no. Our flights are booked, and we are going to Colombo. Our fixtures are ready, first USA, then Canada, and then we are off to Colombo,” Suryakumar stated firmly. He dismissed any talk of preparation shifts, noting that India is ready to fulfill every tournament obligation.

While Pakistan captain Salman Ali Agha reiterated that the decision to boycott is a government directive beyond the players’ control, Suryakumar highlighted that India will be at the R. Premadasa Stadium as scheduled. Under ICC regulations, if the Indian team is present for the coin toss and Pakistan fails to appear, the match will be declared a forfeit. This would award India two points and significantly damage Pakistan’s Net Run Rate (NRR), as a forfeit is often treated as a loss with maximum negative statistical impact, a blow that could end Pakistan’s tournament hopes before the Super 8s.

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India’s dominant form and the road to the title

The boycott drama comes at a time when India is arguably the most formidable T20I side in the world. Since their historic 2024 World Cup triumph, the team has undergone a seamless transition under Suryakumar’s leadership. India enter this tournament following a record-breaking 2024 and 2025 season, maintaining a staggering win percentage of over 90%. With young stars like Tilak Varma and Abhishek Sharma firing alongside veterans like Jasprit Bumrah and Hardik Pandya, the defending champions are widely favoured to retain their crown.

India’s path through Group A is strategically structured:

• February 7: vs. USA (Mumbai)
• February 12: vs. Namibia (New Delhi)
• February 15: vs. Pakistan (Colombo)
• February 18: vs. Netherlands (Ahmedabad)

While the February 15 clash in Colombo remains the biggest talking point, the Indian camp remains focused on the task at hand. If both teams progress, they could meet again in the knockouts, leaving Agha’s side in a precarious position. For now, India stand ready to play, leaving the ball and the political fallout firmly in Pakistan’s court.

Also READ: Shehbaz Sharif breaks silence on why Pakistan won’t face India in T20 World Cup 2026

US President Donald Trump on Thursday unveiled a self-branded prescription drug website, “TrumpRx,” which the administration says will help Americans access discounted medicines directly from the pharmaceutical companies. This includes discounted rates for weight-loss and infertility treatments.“Starting tonight, dozens of the most commonly used prescription drugs will be available at dramatic discounts for all consumers,” Trump said, unveiling the website at a brief evening event on the White House campus. “Americans have long been paying the highest drug prices anywhere in the world… the American people were effectively subsidising the cost of drugs for the entire world.”He further added, “You’re going to save a fortune. And this is also so good for overall health care.”Trump said the lower prices are the result of his administration pressuring pharmaceutical companies to offer “most favoured nation” pricing — matching the lowest prices offered in other developed countries.“We’re tired of subsidising the world,” he said, arguing that price cuts in the US would be offset by higher costs abroad.

What is TrumpRx?

Despite being billed as a way to buy drugs “directly,” TrumpRx is not itself an e-commerce platform. Instead, the government-hosted site functions as a facilitator.Users can search for a medication. They are then routed to drugmakers’ websites to purchase, or can print coupons to present at pharmacies.The site launches with savings offers covering more than 40 medications, including high-demand weight-loss drugs and fertility treatments.Trump cast the initiative as part of a broader push to lower healthcare costs, a major voter concern. This comes ahead of the Republicans heading into November’s midterm elections with affordability pressures extending beyond medicine to housing, groceries and utilities.The White House and Trump allies promoted eye-catching discounts for GLP-1 weight-loss drugs, with Trump saying Novo Nordisk’s Ozempic and Eli Lilly’s Wegovy would drop from over $1,000 a month to $199 monthly through the program.The TrumpRx website indicates the discounted pricing may apply initially and then rise after the first two months, according to details posted on the site.Officials also used the event to spotlight fertility-drug discounts, bringing a woman on stage whom they said was the first user to obtain a reduced-cost fertility medication through TrumpRx.Dr Mehmet Oz, the administrator of the Centres for Medicare and Medicaid Services, suggested the initiative could have sweeping public-health effects, at one point saying, “We’re going to have a lot of Trump babies with these costs.”However, the practical impact on household budgets remains uncertain.The site includes disclaimers that the listed figures represent “out-of-pocket” prices and that insured consumers “may be even lower” through existing coverage.Many patients already receive drug-cost protection through employer plans, private insurance marketplaces, or government programs such as Medicare and Medicaid, and some may be able to switch to less expensive generics depending on the prescription.The launch follows months of announcements by Trump about drug-price deals with major manufacturers, including Pfizer, Eli Lilly and Merck, and comes after multiple delays to the website’s release that the administration has not publicly explained.Trump has also pointed to separate efforts to lower prices for certain Medicare drugs through a negotiation program created by a 2022 law, which his administration has continued to use alongside the new TrumpRx rollout.

MUMBAI: The Reserve Bank of India on Thursday kept the policy repo rate unchanged at 5.25%, with the Monetary Policy Committee (MPC) voting unanimously to maintain status quo while modestly revising up its near-term growth and inflation forecasts.Following the decision, the standing deposit facility rate remains at 5%, while the marginal standing facility rate and the bank rate stay at 5.5%. The MPC also retained its neutral stance.Explaining the decision, the RBI governor said external headwinds have intensified since the last policy meeting, driven by geopolitical frictions and rising trade tensions. However, he noted that domestic macroeconomic conditions remain supportive. “The MPC was of the view that the current policy rate is appropriate and accordingly voted to continue with the existing policy rate,” he said.On growth, the RBI raised its projections for the first half of the next financial year. Real GDP growth for 2025–26 remains unchanged at 7.4%. For 2026–27, growth in the April–June quarter is now projected at 6.9%, up 20 basis points from the earlier estimate of 6.7%, while growth in the July–September quarter has been revised up by 20 basis points to 7%. The central bank deferred its full-year growth forecast for 2026–27 to the April policy review, citing the upcoming release of a new GDP series.RBI governor Sanjay Malhotra said the Indian economy continues on a “steadily improving trajectory”, supported by private consumption and fixed investment despite a challenging global environment. He added that high capacity utilisation, improving corporate performance and continued emphasis on infrastructure spending should support investment activity.Inflation forecasts were also nudged up for the first half of the next financial year. CPI inflation for 2025–26 is now projected at 2.1%, with inflation in the March quarter pegged at 3.2%. For 2026–27, inflation in Q1 has been revised up by 10 basis points to 4%, while Q2 inflation has been raised by 20 basis points to 4.2%. The governor attributed the upward revision largely to higher prices of precious metals, noting that underlying inflation pressures remain muted.He cautioned, however, that geopolitical uncertainty, volatility in energy prices and adverse weather events pose upside risks to inflation. He also flagged unfavourable base effects from the sharp decline in prices in Q4 of 2024–25, which are expected to push up year-on-year inflation in the final quarter of the current year.On the external front, the RBI said India’s merchandise exports grew 1.9% year-on-year in Q3 of 2025–26, while imports rose 7.9%, leading to a widening trade deficit. The governor said robust services exports and inward remittances should keep the current account deficit moderate and sustainable.He added that the recently concluded India–EU free trade agreement and a prospective India–US trade deal, along with other trade pacts, are expected to support exports over the medium term and integrate India more deeply into global value chains.Capital flows remained mixed, with foreign portfolio investors recording net outflows of $5.8 billion till February 3, even as foreign direct investment inflows stayed robust. India’s foreign exchange reserves stood at $723.8 billion as on January 30, providing import cover of over 11 months.On liquidity, the governor said the RBI had undertaken further durable liquidity-augmenting measures in January and February in response to the cumulative 125 basis points cut in the repo rate so far, and would remain proactive to ensure adequate liquidity and smooth transmission of monetary policy.