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- 💰 Gold Hits ₹1L. Now What?
💰 Gold Hits ₹1L. Now What?
☀️ Good morning, Chai Fam!
This week India witnessed gold prices cross the ₹1 lakh mark, tech stocks are breathing life into the markets again, and Tesla’s India debut is turning into a bumper-to-bumper showdown. Whether you're holding bullion or barely holding it together, today's Masala Chai is your golden ticket. ☕️

Let’s roll into the weekend strong — with sparkle, spice, and a splash of startup hustle.
☕ Chai Shots
✨ Gold Hits ₹1 Lakh, Then Swings Like Shah Rukh in DDLJ: India's gold futures crossed the ₹1 lakh per 10g mark for the first time before pulling back to ~₹99,400. A mix of Trump’s trade tantrums, Fed criticism, and global economic jitters sent investors flocking to the yellow metal. More details on this sparkling surge in The Big Brew below. ✨
🪨 BluSmart Co-Founder Detained in FEMA Probe: Puneet Singh Jaggi was picked up from a Delhi hotel as ED raided Gensol's offices. Allegations? Fund diversions, luxury flats, golf sets, and shady shell companies. SEBI had already barred the Jaggi brothers from markets. The plot thickens.
🇮🇳 India First in Line for US Trade Pact?: Treasury Secretary Scott Bessent says India may sign the first bilateral trade deal with the US before Trump's 26% tariff pause expires on July 8. The reason? Fewer trade barriers, minimal subsidies, and no currency manipulation.
🚗 Rapido Pilots Non-AC Cab Option: Tired of AC fights? Rapido’s new beta feature in Bengaluru lets riders choose cheaper non-AC cabs. This follows driver protests and rising user complaints about AC refusals on Ola and Uber.
📊 Market Masala

📉 Winning Streak Breaks at Lucky 7: After a week-long rally, the Sensex slipped 315 points and the Nifty dipped 82 points, snapping their 7-day gain streak. Trade war jitters are back on the table as the US refused to soften tariffs on China or Japan. On top of that, rising geopolitical heat with Pakistan and the monthly F&O expiry kept investors cautious.
🎙️ HUL Powers Through Margin Pain: Hindustan Unilever’s volumes grew 2% in Q4, but profits were squeezed thanks to pricier raw materials. With falling inflation, a good monsoon, and rural recovery, the FMCG giant sees smoother sailing ahead. CEO Rohit Jawa says it's the perfect time to invest in growth, even if margins dip to 22–23%.
☕️ Nestlé India Keeps Brewing Despite Cost Bumps: Nestlé's Q4 profits slipped 5.2%, pulled down by high prices for coffee and milk. But beverages and confectionery (hi, KitKat) kept sales perky. FY25 revenue hit ₹20,077 crore, and Nestlé plans to invest ₹6,500 crore to expand domestic manufacturing. Sweet strategy?
🏛️ Axis Bank Stays the Course: Axis Bank's Q4 net profit was steady at ₹7,117 crore, beating estimates. Net interest income rose 5.5%, and asset quality improved. Retail loans made up 60% of advances, with strong growth in personal, rural, and SME segments.
🌎 Global Masala
🚀 US Markets Soar on Tariff U-Turn: Wall Street was all green as Trump softened his tariff stance, sending the S&P 500 up 2.03% and the Nasdaq jumping 2.74% — both clocking their third straight day of gains. Big tech names like Nvidia, Meta, Amazon, and Microsoft led the rally. But hold the confetti — China said no talks are happening, and volatility still lurks like a jalebi sugar crash.
🌟 Alphabet Glows on Q1 Earnings: Google’s parent beat big on both revenue ($90.2B) and profit (EPS $2.81), blowing past Wall Street’s expectations. YouTube ads came in a bit light, but no one’s crying — cloud services grew 28%, and Search raked in over $50B. Bonus round: Alphabet's AI tools now reach 1.5B users, and they just approved a $70B share buyback. Casual flex.
📉 Norway’s Sovereign Fund Tanks $40B: The world’s largest sovereign fund, managed by Norway, took a nasty Q1 hit — down 415 billion kroner (~₹3.15 lakh crore) thanks to tech stock turbulence. Mega-holdings like Meta, Nvidia, and Tesla dragged it down hard. Equities fell 1.6% despite steady gains in fixed income. Tech giveth, tech taketh away.
🫖 The Big Brew 💰 Gold Hits ₹1 Lakh — And Then Slides: Is the Rally Just Getting Started?
Gold's been on a rampage — and if your nani told you to invest in it, she might’ve just become your best-performing portfolio manager.
Here’s the masala in golden spoons:
🥇 Gold futures hit an intraday record above $3,500 per ounce earlier this week, before dipping to around $3,318 — still up a jaw-dropping 31% YTD. In India, gold briefly touched ₹1 lakh per 10 grams on MCX before cooling slightly.
📉 After the surge, prices corrected to ₹99,400, but the outlook remains mixed. Some analysts believe this may be a temporary pause, with potential for gold to climb to ₹1.06–1.12 lakh by year-end if global uncertainty and safe-haven demand persist. Others suggest the rally could lose steam depending on how macro conditions evolve.
🌍 Why the rally? Blame it on Trump’s tariff tantrums, the Fed’s credibility wobble, central bank gold hoarding (hello RBI!), and geopolitical jitters. Gold’s safe-haven glow is back in fashion.
📦 Physical demand in Asia is booming, especially as central banks hedge against the dollar. RBI, notably, is not just buying — it’s repatriating gold back to Indian vaults.
🔮 Forecasts: JP Morgan sees gold averaging $3,675/oz in Q4, Goldman Sachs has eyes on $4,500, and Indian prices could flirt with ₹1.08 lakh this year.
💬 What does this mean for you?
Gold crossing ₹1 lakh is a big psychological milestone, but it also signals how jittery the global mood is. With trade tensions, rate cut whispers, and inflation worries in the air, investors are leaning into safe-haven bets. Whether prices climb higher or take a breather, expect volatility — and keep an eye on how global events ripple into local markets. This is one metal that's shining as much for what it reflects as for what it's worth.
🚀 Startup Scoop
🚗 Visa2Fly Secures ₹2 Cr to Automate Travel Visas: The Gurugram-based traveltech startup is going global, aiming to simplify visa applications with AI-powered verification. Already processed 1.5 lakh applications across 70+ countries.
🚨 PixelSky Launches ₹400 Cr Secondaries Fund: Hitesh Ahuja’s fund will focus on buying out early investors in growth-stage Indian startups. The idea? Unlock liquidity and support scaling startups.
💵 Bachatt Raises $4M to Help India Save Smarter: Targeting salaried individuals earning ₹30K-₹70K, Bachatt is building a daily savings app. Backers include Lightspeed, Info Edge Ventures, and founders from Urban Company and OYO.
🤔 Chai Break Trivia
🤯 Did you know India’s gold prices have risen more than 24% just this year? That’s 20+ record highs in 2025 already — all powered by safe-haven demand, central banks hoarding bullion, and global tariff chaos. 💰
But with markets this jumpy, who knows? It could keep glittering... or take a sharp U-turn. Buckle up!
📅 What’s Brewing Next?
✨ Akshaya Tritiya (April 30): Jewellers and fintechs are prepping for a surge in gold demand. Expect offers, deals, and long lines.
🏨 Prestige Hospitality IPO Incoming: The Marriott operator is eyeing a ₹2,700 crore listing, including a fresh issue worth ₹1,700 crore.
Until next time, Sip slowly, scroll wisely — and don’t forget to hold your gold (or your breath). ☕️
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