Hormuz turmoil sends gold lower, disrupts India's tea and basmati exports

Gulf hostilities impacting the Strait of Hormuz have disrupted Indian commodity markets. Gold and silver prices have fallen sharply, while exports face challenges. Tea and basmati rice shipments are currently at a standstill due to the situation. Exporters fear escalating freight costs and delayed payments for their goods. Businesses are preparing for potential inflation and supply chain pressures ahead.

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