The UAE is advancing multibillion-dollar infrastructure plans, including expanding eastern ports such as Fujairah, building new oil pipelines, and strengthening rail and road links, to fully reduce reliance on the Strait of Hormuz. It already operates a 1.5 million barrel-per-day pipeline that bypasses the strait, and new projects aim to double crude export capacity while improving resilience for LNG transshipment. While rerouting non-energy commodities such as aluminium remains difficult, the strategy strengthens redundancy for key global oil and LNG export routes and bolsters supply security premiums.

Silver futures fell for a second straight session, with the MCX July contract down ₹1,705 to ₹2.48 lakh per kg. Comex silver slipped below $70 an ounce to $69.87. Markets are awaiting the US Federal Reserve’s policy decision, with rates widely expected to remain unchanged but investors watching updated projections and guidance for clues on the future rate path. Analysts said uncertainty over the Fed’s outlook has kept investors on the sidelines, limiting fresh buying in the metal.

Brent crude has fallen for five consecutive sessions, down about 16% on the week to around $79 a barrel. The Indian rupee has also strengthened by more than 1% over the same period, as markets link the oil decline to easing pressure on India’s current account deficit and inflation. The report frames the drop in crude as a key macro tailwind behind gains in Indian equities, signalling a direct negative for oil assets.

India’s MCX silver futures (July contract) fell ₹2,129 on Tuesday to ₹2.49 lakh per kg, down nearly 1%. Prices had risen a day earlier on expectations of US–Iran talks, but the lack of a formal memorandum left traders cautious. Internationally, Comex silver edged up to $70.36 per ounce. Investors are also awaiting the Federal Reserve’s first policy decision under Kevin Warsh and assessing whether a higher-rate backdrop reinforced by the Bank of Japan could weigh on precious metals.

Indian equities extended gains for a second straight session on June 16, with the Sensex up 544.15 points and the Nifty50 closing at 23,989.15, just below 24,000. IT and realty shares led the advance as sentiment improved on easing geopolitical concerns in West Asia and softer crude oil prices. Market breadth stayed positive, with 2,275 stocks advancing versus 1,795 declines.

India’s gold imports in AprilMay this fiscal year jumped 60% to $9.04 billion. Over the same period, merchandise exports rose 16.09% year on year, while the trade deficit widened to $28.21 billion. The figures were released by the commerce ministry.