Mumbai, Oct 22: The rush for gold may slow down after Diwali, as the yellow metal is expected to open on a weak note in the domestic market on Wednesday.

This comes after international gold prices fell sharply by 5.5 per cent — the steepest decline since August 2020.

Analysts expect Indian gold prices to correct to around Rs 1.22–Rs 1.23 lakh per 10 grams when markets open on Wednesday.

The fall in global prices has triggered profit-booking among investors who had benefited from gold’s recent rally.

Silver too lost over 2 per cent, trading near $47.6 per ounce after tumbling 7.1 per cent in the previous session.

Gold and silver both extended their slide from record highs, while Asian stock markets showed mixed trends following a muted session on Wall Street.

Experts said the sharp drop in precious metals reflects a wave of profit-taking after their rapid rise this year.

“Many investors have grown cautious, believing that gold’s rally may have entered a bubble zone,” analysts noted.

This year’s rally had been driven by worries about the fiscal health of major economies, especially the US, and expectations that the Federal Reserve could cut interest rates further by the end of the year.

Gold prices had surged nearly 60 per cent this year, fuelled by central banks diversifying away from the dollar and retail investors buying into exchange-traded funds.

Market sentiment also turned cautious after signs of possible progress in trade talks between the US and China.

US President Donald Trump said he expects a “good deal” in his upcoming meeting with Chinese President Xi Jinping, though he admitted the talks might still face hurdles.

Analysts believe that while gold remains a preferred safe-haven asset in the long term, short-term volatility is likely to continue as investors balance profit-taking with global economic signals.

Seoul, Oct 21: Samsung Electronics Co. plans to use its in-house Exynos mobile processor in upcoming Galaxy S26 smartphone models, industry sources has said.

The company’s System Large Scale Integration (LSI) division, a fabless unit that focuses on designing and developing advanced system-on-chip (SoC) products, has completed development of the latest Exynos 2600 chip and will supply it for parts of the Galaxy S26 series starting in November, according to the sources, reports Yonhap news agency.

Exynos chipsets are designed and produced by Samsung Electronics’ semiconductor business.

According to the sources, the company’s in-house tests show strong performance from the Exynos 2600 compared with competitors, and the company believes the chip compares favorably with Apple Inc.’s A19 Pro used in the iPhone 17 Pro models.

The Exynos 2600 is expected to appear in at least one Galaxy S26 model, anticipated to be unveiled early next year.

If the top-tier Galaxy S26 Ultra uses an Exynos chip, it would be the first Ultra model to include an in-house processor since the Galaxy S22 series in 2022.

Previously, Samsung Electronics used Qualcomm Inc.’s Snapdragon chipsets across all Galaxy S23 models, while Exynos appeared only in some S24 variants.

The Galaxy S25, S25 Plus and S25 Ultra, launched earlier this year, all use Qualcomm Snapdragon chips.

Meanwhile, launch of the new generation Galaxy S26 series models in India is expected next year in January or March.

According to multiple reports and industry watchers, the model is slated to compete with with several flagships in the market, including the iPhone 17 Pro Max.

If reports can be believed, the price of the upcoming Samsung Galaxy S26 Ultra 5G mobile price in India is expected to be around Rs 1,59,999 for the base model.

There is also buzz doing rounds that it may offer 12GB of RAM with 3 storage options of 256GB, 512GB, and 1TB.

However, industry watchers expect that the official pricing will be based on the storage variants.

Washington, Oct 21: In a major relief for foreign workers on H-1B visas, the US Department of Homeland Security has issued new guidance on the $100,000 application fee, providing a series of exemptions and carveouts.

US clarifies $100,000 H-1B visa fee, exempts current visa holders

According to the new guidelines, workers who switch to H-1B visa status from other visa categories such as F-1 student status won’t be subjected to the $100,000 fee.

H-1B workers applying for an amendment, change of status, or extension of stay within the United States won’t be subjected to the hefty payment. Moreover, all the current H-1B visa holders won’t be prevented from entering or leaving the United States.

The proclamation only applies to new visa petitions who are outside the US and do not have a valid H-1B visa. It also provided an online payment link for new applications.

The clarification comes just two days after US Chamber of Commerce, the country’s biggest business organisation, sued the Trump administration over the new rules, calling it “unlawful.”

In a lawsuit filed in the district court in Washington on Thursday, the plaintiff argued that the visa fee, if implemented, will “inflict significant harm on American businesses” and force them to “either dramatically increase their labour costs or hire fewer highly skilled employees for whom domestic replacements are not readily available.”

It added that Trump’s September 19 proclamation was “plainly unlawful” and a “boon to America’s economic rivals.”

It was the second major domestic legal challenge to new H-1B rules, after a group of unions, education professionals and religious bodies sued the Trump administration on October 3.

While signing the proclamation in September, Trump had said the “incentive is to hire American workers.”

The proclamation caused immense confusion as it seemed to suggest that it would impact the current H-1B visa holders who may face hurdles in returning to the United States.

The White House issued a clarification to media on September 20, saying that this is a “one-time fee” that applies only to new visas and not renewals or current visa holders.

India-born workers received over 70% of the total approved H1-B visas in 2024, primarily due to a huge backlog in approvals and high number of skilled immigrants from India.