
UPSC Key: PM's Independence Day Speech, Deep Ocean Mission and Critical technology
Syllabus:
Preliminary Examination: Current events of national and international importance
Mains Examination: General Studies-II: Government policies and interventions for development in various sectors and issues arising out of their design and implementation.
What's the ongoing story: In his Independence Day address that held out promises of change and reform and reflected his ideological beliefs, Prime Minister Narendra Modi Friday highlighted the 'threat' of infiltration or illegal immigration and announced a mission to check 'demographic change', flagged self-reliance as the path to development and prosperity while urging the youth to come forward with innovative ideas to power the change.
Key Points to Ponder:
— How does demographic change happen?
— Know about the history of RSS
— The bedrock of a Viksit Bharat is also a self-reliant Bharat. How?
— What do you understand by rationalisation of GST?
— Who was the founder of Bhartiya Jana Sangh?
— How is India increasing its self-reliant capabilities in various sectors like defence and energy?
— Know about the various schemes or mission mentioned in the speech: National Manufacturing Mission, Mission Green Hydrogen
— What do you understand by- 'the one who has broken the steel rocks, is the one who has bent the time. This is the time to bend the time, this is the right time.'
Key Takeaways:
— Modi's 103-minute address, his 12th from the ramparts of the Red Fort and the longest so far, also saw him lavishing fulsome praise of the RSS.
— Amid the shadow of the US-imposed tariffs which could impact the economy, Modi put a lot of stress on self-reliance in all spheres saying 'the bedrock of a Viksit Bharat is also a self-reliant Bharat' and 'the greater a nation's reliance on others, the more its freedom comes into question'.
— Modi said his government has decided to set up a task force for undertaking next generation reforms.
— Amid the stalled trade talks with the US, Modi declared that his government would never 'compromise' the interests of farmers, livestock rearers and fisherfolk.
— Infiltration or illegal immigration from Bangladesh has always been high on the BJP's agenda. It has also been an emotive issue in Assam and West Bengal, which are among the states headed to elections next year… Modi touched upon the topic, saying he wanted to warn the nation of the 'grave concern and challenge.'
— He signalled that the much-awaited rationalisation of GST may be rolled out soon, linking it to cutting the tax burden impacting people.
— He also mentioned Jan Sangh leader Syama Prasad Mookerjee and said he was the 'first great personality' to sacrifice his life for the Constitutions.
— Weeks after Indian air defences successfully intercepted Pakistani missiles and drones during the hostilities that followed Operation Sindoor, Prime Minister Narendra Modi Friday announced the launch of Mission Sudarshan Chakra.
— It is learnt to be an advanced, multi-tiered air defence system, aimed at creating a nationwide security shield to thwart enemy attacks across domains and strengthen the country's deterrent and offensive capabilities.
— A statement issued by the government said all public places will be covered by the expanded nationwide security shield by 2035, ensuring comprehensive protection for the nation and demonstrating India's commitment to self-reliance in defence.
— India has manufactured the indigenous Light Combat Aircraft (LCA) Tejas, but efforts to make aero engines indigenously have so far not succeeded.
— The Defence Research and Development Organisation's Gas Turbine Research Establishment (GTRE) first worked on developing the GTX-37 engine for the LCA. This was followed by the ambitious Kaveri engine project, sanctioned in 1989.
— At present, India is in discussions with global firms to jointly develop engines that could power its advanced fighter jets in the future.
— DOING away with multiple rates will ease compliance and lower tax burden on common people. The complexity of GST structure has made its administration unwieldy.
THE IDEAS PAGE
— PM Modi writes: This grand festival of Independence is a celebration of the 140 crore resolutions of our people. This festival of Independence is a moment of collective achievements, a moment of pride, and our hearts are filled with joy.
— After Independence, feeding crores of people was a formidable challenge. And it was none other than the farmers of my country who, by toiling hard, filled the granaries of the nation. The bedrock of a Viksit Bharat is also a self-reliant Bharat.
— Self-reliance is not confined merely to imports and exports, or to rupees, pounds, and dollars. Self-reliance is linked to our capability, and when self-reliance begins to diminish, capability too continually declines.
— None can deny that the 21st century is a technology-driven century. When we speak of various dimensions of technology, I wish to draw your attention to semiconductors.
— It is essential to make the country self-reliant in energy. We took up this resolve, and in the last 11 years, solar energy has seen a thirty-fold increase. We are building new dams to expand hydropower so that we may obtain clean energy.
— With Mission Green Hydrogen, Bharat is today investing thousands of crores of rupees. In the field of nuclear energy, 10 new reactors are progressing rapidly.
— Today, the National Manufacturing Mission is progressing at great speed. There is always some tool or component that comes from our country's MSMEs in the making of some of the biggest products globally.
— I want to appeal to every small trader and shopkeeper, you too have a responsibility. In our childhood, we used to see shops simply labelled as 'Ghee Shop,' but over time, people began writing 'Pure Ghee Shop'.
— I wish to warn the nation of a grave concern and challenge. As part of a deliberate conspiracy, the demography of the country is being altered. These infiltrators are snatching away the livelihoods of our youth.
— Therefore, today I announce that we have decided to launch a High-Power Demography Mission. Through this mission, the severe crisis will be addressed in a deliberate and time-bound manner.
Other Important Articles Covering the same topic:
📍How Syama Prasad Mookerjee fought for J&K's integration with India
📍How PM's 'Demographic Mission' promise aligns with BJP, RSS narratives
Previous year UPSC Mains Question Covering similar theme:
It is argued that the strategy of inclusive growth is intended to meet the objectives of inclusiveness and sustainability together. Comment on this statement. (UPSC CSE 2019)
Syllabus:
Preliminary Examination: Current events of national and international importance
Mains Examination: General Studies-III: Achievements of Indians in science & technology; indigenization of technology and developing new technology.
What's the ongoing story: Clean energy to semiconductors, defence to medicines, space to deep sea, information technology to nuclear energy — Prime Minister Narendra Modi stressed the importance of self-reliance in critical technologies and scientific research and development in India achieving the objective of becoming a developed nation by 2047.
Key Points to Ponder:
— What is the significance of self-reliance in critical technologies?
— What is India's Deep Ocean Mission?
— What is the status of GDP share on R&D?
— What are the areas that need extra attention to become a developed nation by 2047?
— What is the significance of the Samudrayaan mission?
Key Takeaways:
— Addressing the 79th Independence Day celebrations at the Red Fort, the PM highlighted the technology initiatives that are underway, like in clean energy and space, and emphasised the need to develop capabilities in areas like semiconductors and fighter jets.
— He said a made-in-India chip would be available in the market by the end of the year.
— Modi spoke about the progress being made in harnessing renewable energy sources like solar and wind, the efforts to mine and develop critical minerals, and stressed on the importance of nuclear energy.
— The Prime Minister also mentioned India's Deep Ocean Mission aimed at exploring resources under the sea. His remarks came just a day after it was revealed that two Indian divers, 'aquanauts', recently completed trips up to the depth of about 5,000 metres in the Atlantic Ocean.
— This is in preparation for the country's 'Samudrayaan Mission' in which three Indian divers are supposed to travel in an India-made vessel to about 6,000 metres below the ocean surface.
— Modi also spoke about astronaut Shubhanshu Shukla's recent journey to the International Space Station, and India's own Gaganyaan mission which is supposed to send humans into space by 2027.
— He asked the youth to put in similar energy into other complex technological areas to strengthen the nation as well as generate jobs and revenues.
Do You Know:
— Samudrayaan is India's manned deep ocean mission envisioned for deep sea mineral exploration. It is a project under the Deep Ocean Mission.
— It is aimed at developing a self-propelled manned submersible to carry 3 human beings to a water depth of 6000 metres in the ocean with a suite of scientific sensors and tools for deep ocean exploration. Under the mission, MATSYA 6000 manned submersible design has been completed.
— Matsya-6000, the submersible vehicle set to transport three Indians into the deep sea in 2026, has successfully completed wet tests and facilitated multiple manned dives in the Bay of Bengal.
— The intense oceanic activity around the world over the past two decades has focused on the deep ocean exploration for its economic resources. India's deep ocean mission also focuses on the same.
— Countries manage their own maritime territory and exclusive economic zones, while the high seas and the international ocean floor are governed by the United Nations Convention on the Law of the Seas (UNCLOS). It is considered to apply to states regardless of whether or not they have signed or ratified it.
Other Important Articles Covering the same topic:
📍Expert Explains: Why India needs to develop its deep sea capabilities
UPSC Prelims Question Covering similar theme:
(1) With reference to the United Nations Convention on the Law of Sea, consider the following statements: (2022)
1. A coastal state has the right to establish the breadth of its territorial sea up to a limit not exceeding 12 nautical miles, measured from baseline determined in accordance with the convention.
2. Ships of all states, whether coastal or land-locked, enjoy the right of innocent passage through the territorial sea.
3. The Exclusive Economic Zone shall not extend beyond 200 nautical miles from the baseline from which the breadth of the territorial sea is measured.
Which of the statements given above are correct?
(a) 1 and 2 only
(b) 2 and 3 only
(c) 1 and 3 only
(d) 1, 2 and 3
Syllabus:
Preliminary Examination: Current events of national and international importance
Mains Examination: General Studies-III: Indian Economy and issues relating to planning, mobilisation, of resources, growth, development and employment.
What's the ongoing story: Prime Minister Narendra Modi, in his Independence Day address from the Red Fort, called for India to become self-reliant in energy and critical minerals, pointing to the opportunity cost of a high petroleum import bill. Modi also said the government has 'opened the doors' of nuclear energy to the private sector, and aims to grow nuclear generation capacity tenfold by 2047.
Key Points to Ponder:
— What are critical minerals?
— What is the status of petroleum import in the country?
— What are the opportunities and challenges related to Nuclear energy?
— What is the National Critical Mineral Mission?
— What are Bharat Small Reactors (BSRs)?
— What is the significance of Nuclear energy?
Key Takeaways:
— In 2024-25, India's crude oil imports were valued at $137 billion, petroleum products at $24 billion, and liquefied natural gas (LNG) at $15 billion. Altogether, they accounted for 22.3 per cent of India's total imports, compared to 23 per cent in 2023-24, according to the Petroleum Planning and Analysis Cell of the Ministry of Petroleum and Natural Gas.
— PM Modi said critical minerals have taken centre stage globally, underpinning technologies across sectors — from energy to industrial to defence.
— So far, the Ministry of Mines has auctioned 24 critical mineral blocks — some requiring further exploration and others ready for development into mines — and aims to auction 100 more by 2030.
— Mining sector experts caution, however, that operationalising auctioned mines could take several years. To address bottlenecks, the ministry has set up a Project Monitoring Unit (PMU) to streamline regulatory processes and expedite clearances.
— In the meantime, the Centre is also doubling down on the exploration and acquisition of critical mineral blocks abroad.
— 'India is taking big initiatives on nuclear energy. Ten new nuclear reactors are currently operational. We have also resolved to increase our nuclear energy capacity by 10 times by 2047,' PM Modi said in his address.
— India's installed nuclear capacity stood at roughly 8.8 gigawatts (GW) as of June 30, accounting for just under 2 per cent of its total electricity generation capacity.
— In the 2024-25 Budget, the government proposed partnering with the private sector to finance and build Bharat Small Reactors (BSRs) for captive use, to be commissioned and operated by the Nuclear Power Corporation of India (NPCIL).
— Full-scale private participation, however, will require amendments to the Atomic Energy Act and the Civil Liability for Nuclear Damage Act, currently under internal discussion.
— In his speech, PM Modi also noted that India has met a key climate target five years early, with non-fossil fuel sources accounting for 50 per cent of the country's installed electricity capacity as of June 30.
Do You Know:
— India's renewable energy sector has made significant strides in recent years. Its renewable energy capacity crossed the 200 GW milestone as of October 2024, representing a 13.5 per cent year-on-year increase. This includes 92 GW of solar power, 52 GW of Hydro power, 48 GW of wind energy and 11 GW of bio-energy.
— Nuclear power provides high-capacity, base-load electricity with minimal carbon emissions, operating independently of weather and seasonal fluctuation. India has set an ambitious target to increase nuclear capacity to 22,800 MW by 2031-32 and 100 GW by 2047. A diversified energy portfolio is a strategic necessity for India's development and energy independence.
— Nuclear technology is one of the few innovations that have changed the modern world profoundly and controversially. It involves harnessing nuclear reactions of atomic nuclei through the processes of nuclear fission and fusion.
— On 29th January, the government approved a Rs 16,300-crore National Critical Minerals Mission (NCMM) to promote the exploration of critical minerals within the country and at offshore locations. The NCMM encompass all stages of the value chain, including mineral exploration, mining, beneficiation, processing, and recovery from end-of-life products.
Other Important Articles Covering the same topic:
📍How India's nuclear vision supports a sustainable tomorrow
📍Understanding nuclear technology in the wake of US attack on Iran
Previous year UPSC Prelims Question Covering similar theme:
(2) India is an important member of the International Thermonuclear Experimental Reactor'. If this experiment succeeds, what is the immediate advantage for India? (UPSC CSE 2016)
(a) It can use thorium in place of uranium for power generation
(b) It can attain a global role in satellite navigation
(c) It can drastically improve the efficiency of its fission reactors in power generation
(d) It can build fusion reactors for power generation
Syllabus:
Preliminary Examination: Current events of national and international importance
Mains Examination: General Studies-III: Government policies and interventions for development in various sectors and issues arising out of their design and implementation
What's the ongoing story: In the last two weeks, the Supreme Court has twice intervened in instances in which High Courts allowed criminal proceedings to continue in what were essentially civil disputes.
Key Points to Ponder:
— If a law resolves disputes between private individuals or organisations, is it a criminal law or civil law?
— What do you understand by – loss of liberty?
— How preponderance of probabilities and beyond a reasonable doubt are a crucial difference between civil and criminal law?
— Civil proceedings are significantly more time-consuming than criminal trials. Why?
— What is the history of the Indian Penal Code (IPC)?
— What are the new criminal and civil laws in India?
Key Takeaways:
— On Wednesday, a Bench of Justices J B Pardiwala and R Mahadevan set aside a Rajasthan HC order that had denied pre-arrest bail to a couple in a case involving an unpaid sum for a plywood consignment.
— On August 4, the same Bench stripped a judge of the Allahabad HC of his criminal roster for allowing criminal proceedings in a case of an unpaid business transaction. The apex court had called the HC's reasoning 'shocking' and a 'mockery of justice'.
— After the Chief Justice of India intervened, the Bench on August 8 recalled its directive that the Allahabad HC judge never be assigned a criminal case.
— The distinction between civil and criminal law is fundamental in India's legal system. They differ in terms of their purpose, parties involved, and procedure.
— Civil law is designed to resolve disputes between private individuals or organisations. Civil cases, known as suits, typically involve disagreements over rights and duties of the parties to the case towards each other.
— The goal is not to punish but to provide a remedy, usually in the form of monetary compensation (called damages) or a specific action ordered by the court to a party to do or not to do something (called an injunction).
— Examples of civil cases include property disputes, contract breaches, family law matters like divorce and child custody, and cases for recovery of money.
— Criminal law deals with acts that are considered offences against the state or society as a whole. The objective is to punish the offender and deter others from committing similar crimes.
— The state, represented by a prosecutor, initiates criminal proceedings against the accused. If found guilty, the accused can face penalties ranging from fines to imprisonment and even death.
— A key distinction between civil and criminal cases is with regards to the burden of proof. In a civil case, the plaintiff must prove their case on a 'preponderance of probabilities', meaning their version of events is more likely to be true than the defendant's.
— In a criminal case, the prosecution has the much higher burden of proving the guilt of the accused 'beyond a reasonable doubt'. This higher standard reflects the serious consequences of criminal conviction, which can involve the loss of liberty.
— A common perception — one that was noted by the Allahabad HC judge in his subsequently overruled order — is that civil proceedings are significantly more time-consuming than criminal trials.
— As of August 14, 2025, 70.17% of criminal trials were disposed of within a year, while only 37.91% of civil suits were resolved in the same timeframe.
— Data from the NJDG also shows variations depending on the specific type of case. For instance, while civil suits take an average of 4.91 years for disposal, execution petitions, filed to enforce a court order in a civil case, take about 3.97 years to conclude.
— Bail applications in criminal cases are decided in about 6.12 months on average. However, criminal sessions court cases involving allegations of serious criminal offences take an average of 4.65 years, which is comparable to the time taken for civil suits.
Do You Know:
— Before the arrival of the East India Company, the Indian legal system consisted of a patchwork of laws, administered by kings or village tribunals. Even during the Mughal rule, local administration of justice was largely ignored, except when it concerned the collection of revenue or the repression of crimes affecting the stability of the state.
— According to Motilal Setalvad, the first Attorney General of India, the Company's judicial hold over India coincided with the cession of Bombay by the Portuguese to the English in 1668.
— Across the rest of India, the laws were a complex array of parliamentary charters, Company regulations, English Common law, Hindu law, Muslim law, and other regional customs.
— According to author David Skuy, in Macaulay and the Indian Penal Code of 1862 (1998), this chaotic legal mixture convinced legal thinkers such as Thomas Babington Macaulay that India needed a uniform set of laws.
— The IPC was enacted in 1860 and came into force on January 1, 1862. It was discontinued on July 1, 2024. This makes it the longest-surviving common law code in the world.
— The Bharatiya Nyaya Sanhita (BNS), the Bharatiya Nagrik Suraksha Sanhita (BNSS), and the Bharatiya Sakshya Adhiniyam (BSA), passed in Parliament last December, has replaced the Indian Penal Code (IPC), 1860, the Criminal Procedure Code (CrPC), 1973, and the Indian Evidence Act, 1872 respectively.
Other Important Articles Covering the same topic:
📍Supreme Court's warning must be heeded: Civil disputes cannot become criminal cases
📍Explained: New crimes under the Bharatiya Nyay Sanhita, and some grey areas
Previous year UPSC Mains Question Covering similar theme:
Mob violence is emerging as a serious law and order problem in India. By giving suitable examples, analyze the causes and consequences of such violence. (UPSC 2015)
Syllabus:
Preliminary Examination: General issues on Environmental Ecology, Biodiversity and Climate Change – that do not require subject specialisation
Mains Examination: General Studies-III: Conservation, environmental pollution and degradation, environmental impact assessment
What's the ongoing story: At least 65 people have been killed after torrential rain triggered a flash flood at a remote village in Jammu & Kashmir's Kishtwar district on Thursday. The incident took place at Chasoti, the last motorable village on the way to the Machail Mata temple. More than 50 people are missing.
Key Points to Ponder:
— Know about the location of Machail Mata temple
— What are the reasons for the increase in frequency of flash floods and wildfires?
— What is Western Disturbances?
— What is Glacial Lake Outburst Flood (GLOFs) and how is it related to climate change?
— Why are the Himalayas more vulnerable to disasters?
— What are the anthropogenic activities responsible for these increases in these climate-induced disasters?
— What are the steps needed to be taken to address these challenges?
Key Takeaways:
— While experts hesitate to attribute a single extreme weather event solely to climate change, they point out that flash floods and wildfires are becoming more frequent and intense due to the global rise in temperatures and changes in weather patterns.
— In J&K as elsewhere, the incidence of extreme weather events has increased with rising average temperatures, leading to the deaths of thousands of people in recent years.
— Between 2010 and 2022, J&K witnessed 2,863 extreme weather events in which 552 deaths were reported, according to a 2024 study, 'Extreme weather events induced mortalities in Jammu and Kashmir, India during 2010-2022', published in Mausam, the quarterly journal of the India Meteorological Department (IMD).
— Other frequent extreme weather events included flash floods (triggered by intense rainfall over a very short duration) and landslides, which occurred 168 and 186 times respectively.
— While there were just 42 instances of heavy snow (when a station receives more than 30 cm of snowfall in 24 hours) during this period, they killed 182 people, the heaviest toll extracted by any extreme weather event.
— The analysis also showed that the largest number of deaths due to flash floods occurred in Kishtwar (where Thursday's disaster occurred), Anantnag, Ganderbal, and Doda.
— Although several factors contribute to the occurrence of extreme weather events in J&K, the three significant drivers behind these events are rising temperatures, the changing pattern of Western Disturbances, and the region's topography.
— J&K is located in the western Himalayas, a region that has experienced a two-fold increase in temperature compared to the Indian subcontinent as a whole post-2000.
— Due to this, the western Himalayas have witnessed increased mean and extreme precipitation. This is because warmer temperatures allow the atmosphere to hold more water vapour — for every 1-degree-Celsius rise in average temperature, the atmosphere can hold about 7% more moisture.
— Also, increased temperatures have shrunk glaciers in the region, resulting in an increase in the number of glacial lakes. Their water, when released, can cause major flooding in downstream areas.
— Experts suggest that J&K could be witnessing more flash floods and rain due to global warming-induced changes in the nature of western disturbances.
— These are east-moving rain-bearing wind systems that originate beyond Afghanistan and Iran, and pick up moisture from the Mediterranean Sea, Black Sea, Caspian Sea and Arabian Sea.
— While western disturbances are most common during the boreal winter months (December to March), they have now begun to impact weather outside the winter season. This has increased the risk of floods and heavy rain in India's Himalayan states.
— J&K's hilly terrain makes it more vulnerable to extreme weather events.
Do You Know:
— GLOFs are disaster events caused by the abrupt discharge of water from glacial lakes — large bodies of water that sit in front of, on top of, or beneath a melting glacier. As a glacier withdraws, it leaves behind a depression that gets filled with meltwater, thereby forming a lake.
— Incorporating local geology and hydrology into planning can significantly reduce vulnerability, ensuring infrastructure remains functional even during severe events. Additionally, promoting sustainable land-use practices, such as afforestation and slope stabilisation, can help prevent soil erosion and landslides that often accompany heavy rains.
— Constructing strategically placed reservoirs and rainwater harvesting systems can regulate water flow and reduce flood peaks. Implementing early warning systems powered by advanced weather forecasting technologies enables communities to prepare just in time, saving lives and minimising property damage.
— Governments should prioritise community-based disaster preparedness programmes, including education campaigns that inform residents about risks and safety procedures. Training local populations to respond effectively during floods can significantly enhance resilience, turning vulnerable communities into active participants in disaster mitigation.
— On a broader scale, adopting climate-smart agricultural practices can help farmers adapt to unpredictable weather patterns. This includes shifting to flood-tolerant crops, adjusting planting schedules, and promoting soil conservation methods. Such measures reduce economic losses and ensure food security despite increasing climatic uncertainties.
— Only through coordinated action at all levels — global, national, and local — can the Himalayan region safeguard its people, heritage, and ecosystems from the increasing threat posed by climate change.
Other Important Articles Covering the same topic:
📍Himachal floods: How can Himalayan region safeguard its people, heritage, ecosystems from climate change?
Prelims Question Covering similar theme:
(3) With reference to the glacial lake outburst floods (GLOFs), consider the following statements:
1. These are sudden and catastrophic floods caused by the failure of natural dams, usually formed by glacial moraines or ice.
2. Thawing of permafrost decreases the risk of GLOFs.
3. Melting of glaciers increases the risk of GLOFs.
How many of the statements given above are correct?
(a) Only one
(b) Only two
(c) All three
(d) None
ALSO IN NEWS
India persisted with its stance that any treaty should be agreed through consensus, and said that the text arrived at through negotiations during the previous talks in Busan, Korea, should be the basis for future negotiations.
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- News18
Gold prices may see consolidation next week as focus shifts to Fed, US data
New Delhi, Aug 17 (PTI) Gold prices are likely to witness a phase of consolidation in the coming week as traders weigh a mix of global economic indicators, cues from central banks and shifting geopolitical dynamics, analysts said. Traders will monitor US housing numbers, consumer price data from the UK and Eurozone, and provisional PMI releases from key economies. Also, investors will closely track European Central Bank's President Christine Lagarde speech as well as commentary by Federal Reserve Chair Jerome Powell at the Jackson Hole Symposium, which will provide further insights for the broader trajectory of the bullion prices, they added. 'Gold prices are likely to see some consolidation/correction in the coming week as focus now remains on the incoming US macroeconomic data and the Federal Reserve's meeting next month with interest rate cuts in focus. 'In the week ahead the focus will be on US housing data, CPI numbers from the UK and the Euro zone and the provisional data on manufacturing/ services PMI from across regions," Pranav Mer, Vice President, EBG – Commodity & Currency Research, JM Financial Services, said. Pranav Mer noted that safe-haven demand has eased after Washington and Beijing agreed to extend trade negotiations for another 90-days. According to Mer, weaker US macroeconomic data have highlighted a slowdown in the economic activity, but a firm producer and import price data have kept inflation concerns alive, leaving Fed officials divided on the timing of interest rate cuts. Last week, the most traded gold futures for October contract declined by Rs 1,648 per 10 grams or nearly 2 per cent on the Multi Commodity Exchange (MCX). Prathamesh Mallya, DVP-Research, Non-Agri Commodities and Currencies at Angel One, said gold prices retreated last week as futures on the MCX slipped nearly 2 per cent. He added that 'prices declined from highs of Rs 1,02,000 to lows of Rs 1,00,000 per 10 grams after US President Donald Trump clarified that gold imports into the US would not face tariffs, in turn threatening the upside momentum of the precious metal". Going forward, Mallya added, developments from US-Russia discussions will be critical. 'If not, the possibility of increased tariffs on India will dent the macros and in turn lift gold prices in the week ahead," he added. On Saturday, Comex gold futures for December contracts ended lower at USD 3,382.60 per ounce in New York. Manav Modi, Analyst – Precious Metal Research, Motilal Oswal Financial Services, said gold prices lost ground last week as safe-haven demand eased amid shifting geopolitical and economic developments. The White House clarified that reports of US tariffs on Swiss gold were inaccurate, reversing a brief price rally that had been driven by confusion following a Customs and Border Protection note. At the same time, optimism surrounding a potential ceasefire in Ukraine gained traction, particularly after a high-profile meeting between US President Trump and his Russian counterpart Vladimir Putin in Alaska. Also, the extension of the US-China tariff truce signalled easing trade tensions further capping demand for gold as a safe-haven asset. On the supportive side, Modi said a weaker dollar and rising expectations of a US rate cut in September provided a cushion. 'Soft inflation data spurred dovish bets and Treasury Secretary Bessent hinted at a deeper 50-basis-points reduction. Modi also stated that physical gold demand in Asia, usually a seasonal driver, remained subdued due to elevated prices. Investors are turning their focus on preliminary US PMI data and Fed Chair Powell's upcoming speech at the Jackson Hole Symposium and the broader trajectory of Washington-Moscow discussions, he added. Overall, the near-term outlook for gold will hinge on how incoming data and central bank commentary shape market sentiment, analysts said. PTI HG HVA (This story has not been edited by News18 staff and is published from a syndicated news agency feed - PTI) view comments First Published: Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.