Good morning, chai fam! 🌞 

Tuesday’s brew is glittering with gold at record highs, buzzing with startup energy, and sprinkled with global drama. From Air India’s jumbo loan to Tesla’s Model Y hitting Indian roads, and Trump putting movies in his tariff crosshairs — it’s a masala mix you don’t want to miss 👇

📰 Chai Shots

• 🪙 Gold sparkles at record highs: Gold in India shot past ₹1.14 lakh per 10g, following global spot prices breaching $3,800/oz for the first time ever. Rate cut bets in the US, a weakening rupee, and festive demand are all fanning the fire. Analysts see support at ₹1.12 lakh and resistance at ₹1.15 lakh per 10g. More in the Big Brew 👇

• 🎬 Trump tariffs movies at 100%: President Donald Trump imposed a 100% duty on all foreign-made films, sparking panic in Hollywood. Studios are confused over enforcement since most films are international co-productions. Netflix shares slipped 1.5% as the industry scrambled for answers.

• 🏦 Air India raises $215M loan: Air India secured a $215 million six-year loan from Standard Chartered and Bank of India through GIFT City to refinance debt on six Boeing 777s. It marks Bank of India’s first major lead role in a GIFT City deal, boosting its aviation finance profile.

• 🛻 iGoWise Mobility raises ₹8.2 crore: The Bengaluru startup developing electric trikes with patented anti-topple tech bagged fresh capital from ISB Angels and others. Its BeiGo model, designed for both rural and urban use, will launch with 1,500 units in the next 18 months.

📈 Market Masala

• 💹 Silver shines alongside gold: Silver hit an unprecedented ₹1.5 lakh per kg in Delhi, surging by ₹7,000 in one day. Globally, it crossed $47/oz, supported by demand from EVs, solar, and electronics. This marks the fourth straight session of gains, with silver already up 58% this year.

• 📱 Vodafone Idea files fresh plea in Supreme Court seeking relief: Vodafone Idea has approached the apex court to waive penalties and interest on an additional ₹9,450 crore AGR demand, arguing the dues exceed the scope of the court’s earlier ruling. The case will be heard on October 6, alongside the company’s challenge on duplication of AGR liabilities.

• 💼 India steps up anti-dumping probes on Chinese imports: The government has launched investigations into Chinese goods ranging from mobile covers to solar encapsulants and chemicals, citing undercutting and losses for local firms. Officials say evidence shows MSMEs and clean-energy players are facing severe margin erosion from dumped imports.

• 🚙 Hero and Bajaj absorb GST hike on premium bikes: With GST on >350cc motorcycles raised to 40%, Hero and Bajaj chose not to raise prices during the festive season to protect demand. Royal Enfield passed the hike onto customers, while Ducati raised prices significantly.

• 🚗 Tesla Model Y deliveries start in India: Tesla has begun handing over its best-selling Model Y to Indian buyers just two months after launch. The car comes in two trims offering 500–622 km range, with a complimentary home wall connector for charging.

🌍 Global Masala

• 🇺🇸 Wall Street edges higher: The S&P 500 rose 0.2%, Nasdaq gained 0.5%, while the Dow ended flat. Nvidia and AMD both added 2% after last week’s AI wobble, while Electronic Arts jumped 4% on news of its $55B buyout. Investors remain cautious ahead of a potential US government shutdown.

• 🎮 EA goes private in $55B deal: Gaming giant Electronic Arts will be taken private in the biggest leveraged buyout in history. Saudi Arabia’s PIF, Silver Lake, and Jared Kushner’s Affinity Partners are leading the charge, offering $210/share in cash. EA’s CEO Andrew Wilson will stay on as the company pivots under new ownership.

🍵 The Big Brew — Why Gold Is Breaking Records

Gold is glittering like never before. On Monday, Indian gold futures hit a lifetime high of ₹1.14 lakh per 10g, while international prices surged beyond $3,800/oz for the first time. The rally is the result of a perfect storm:

• 📉 US Federal Reserve rate cuts are widely expected, making gold more attractive compared to low-yielding bonds or savings.

• 💵 The dollar has weakened, making gold cheaper for buyers in other currencies, boosting global demand.

• ⚖️ Inflation concerns are keeping investors cautious, with gold serving as a traditional hedge.

• 🌍 Geopolitical tensions — from US shutdown risks to ongoing conflicts in Ukraine — are driving fear-based buying.

• 🏦 Central banks and funds are adding to reserves, with ETFs showing their highest inflows since 2022.

• 🎉 In India, festive buying and a rupee sliding near record lows have magnified price gains.

What does this mean?

• For households: Jewellery purchases just got pricier, but resale values are higher too.

• For investors: Volatility will persist, but big banks project $4,000–$5,000/oz by 2026, signaling more upside.

• For India’s economy: Import bills may swell, but strong gold demand reflects consumer confidence heading into the festive season.

🚀 Startup Scoop

• 🛰️ Akashalabdhi raises $1.2M pre-seed: The IISc-incubated spacetech startup secured funding for expandable space modules that fold compactly for launch and expand in orbit. A prototype trial on a SpaceX rocket is slated for early 2026. The startup is also developing inflatable solar arrays and defence-grade systems.

• 📊 Petpooja secures $15.5M Series C: The restaurant POS firm serving over 1 lakh outlets across India, UAE, and South Africa raised funds at a 3.5x higher valuation of ₹910 crore. Processing nearly 25% of orders on Zomato and Swiggy, it plans to expand AI automation and customer support.

• 🍦 Hocco scoops $10M Series B: Ahmedabad-based ice cream brand Hocco raised new funding to double daily production to 2.5 lakh litres by February. The Chona family venture is eyeing new markets in UP, Punjab, and Telangana to compete in India’s fast-growing $9B ice cream sector.

🔮 What’s Brewing Next?

• 🚗 Supreme Court will hear Vodafone Idea’s AGR dues dispute on October 6 — a verdict that could set the tone for India’s telecom sector.

❓ Chai Break Trivia

Did you know? 🏦 India’s central bank holds over 820 tonnes of gold, ranking it among the top 10 global gold reserves. At today’s record prices, those reserves are worth more than ever before.

That’s the wrap for today’s brew! From gold’s dazzling highs to Tesla’s shiny debut in India, and startups pushing the boundaries from EV trikes to space habitats, it’s clear both tradition and innovation are steering the headlines. Stay golden, sip slow, and we’ll be back tomorrow with more fresh masala ☕✨.