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I am something of an airline points obsessive, or worse. I lurk on blogs and some more dodgy corners of the Internet to learn the latest strategies and promotions. I know the stakes are low, but it’s fun — even the outrage, the latest of which was ignited among the Delta flying community when the airline announced it was using AI to set prices.Its mistake was using the term “dynamic pricing, ” which people interpret as personalized pricing, like charging people more depending on why they’re flying. Delta is not doing that (yet), at least not with AI. But it is coming, not only for airlines but also for many consumer businesses. And we will all hate it — but we should all prepare for it.“Dynamic pricing,” like consumption taxes or market-rate-rent, is something only an economist can love. Dynamic pricing usually means a price that changes depending on when you buy — say, when Wendy’s wanted to charge less for burgers outside of peak lunch hour. The plan caused such an uproar that it was abandoned. But it would have been better for customers, who could have saved money by eating lunch later (or earlier, if they were hungry).Dynamic pricing is not the same as personalized pricing, which is based on someone’s personal characteristics, such as how much they can pay or how much they value the good or service. People hate dynamic pricing, but they tend to hate personalized pricing even more.Neither dynamic nor personal pricing is new. In some ways, they represent a return to a more traditional way of pricing, when people haggled in markets. Prices then often depended on the time of day, or a customer’s bargaining skills, or even the mood of the seller. In this era of mass consumption, however, something about this practice feels wrong and makes people angry — even in the economically savvy points community.Dynamic pricing powered by technology became more noticeable with ride-sharing apps that charge higher prices when and where there is more demand. But it long predates Uber — movie theater tickets are cheaper during the day. Airlines also practiced dynamic pricing before the AI revolution, charging different prices for the same flight depending on when people buy their ticket, how full the plane is, the day they fly, and so on.Airlines face a difficult problem setting their prices. Earning a profit requires them to fill planes — despite no-shows and weather delays. They serve customers with wildly different pricing sensitivities and travel needs. The market is also very competitive, with many people searching competitors’ fares (sometimes using AI!) to find the best price.It is not surprising airlines are using new AI tools to make their prices even more dynamic — these complex problems are what AI is made for. And for fliers with more flexibility, it could mean cheaper air fares. And to be honest, personalized pricing already exists: People can pay more for an upgrade in class, a better seat, a checked bag or a meal. In all these cases, the airline is charging a price based on the customer’s ability to pay or comfort preference.124047946Dynamic and personal pricing is one reason that flying has become cheaper and more accessible over the years: Leisure travelers generally pay far less than business fliers. The difference now is that the algorithm will get better at setting personalized prices. It’s all but inevitable, in fact, that AI will be used to set personalized prices for pretty much everything sold online. If the data is there, sellers will want to use it.Quite aside from its impact on consumers (see above: They’ll hate it), this new world has broader implications for the economy and society. How will it affect measures of inflation? Will more price-sensitive consumers get lower prices and a different inflation rate? What about data — will there be laws or norms about what companies can use? If someone spends months researching their dream vacation, bookmarking sites and messaging friends and family, and then finally decides to buy — will the seller know how excited they are, and jack up the price? What if their dishwasher breaks, and they’re desperate to buy? Will we all need to adjust the privacy settings on our browsers?In a world powered by enormous amounts of data and the technology to make sense of it, more dynamic and personalized pricing is the future, whether we like it or not. When we buy online, maybe the prices we pay will be unique to us. It may be harder for retailers to pull off differentiated pricing in actual brick-and-mortar stores. So maybe in-person shopping is due for a comeback — though it’s unlikely in the travel industry, not least because we addicts need the web to feed our habit.107935480

The global trade landscape remains uncertain, with mounting questions around the future of US tariffs and their broader economic impact. Despite optimism that trade disputes might be easing, experts caution the conflict is far from over.Jahangir Aziz in an interview with ET Now pointed to the legal fragility of tariffs, saying, “Markets think the trade war is settled. It is not. Most tariffs were imposed under the IEEPA Act, and US courts have already ruled them illegal. The case is now with the Supreme Court. If it upholds the rulings, the basis of most tariffs will collapse, and trade deals will unravel.”He added that Washington could still reimpose tariffs, but the “countries, sectors, and scale would all look different.”Concerns about global growth continue. Aziz explained, “Since late last year, the slowdown has been masked. Companies frontloaded imports, corporates absorbed tariff costs on their margins, and the tech cycle has been unusually strong. But margins cannot absorb costs forever—by the fourth quarter, inflation will rise, consumption will slow, and the labour market will weaken.”The technology boom, he noted, has temporarily hidden underlying weakness. “The tech cycle is independent of the business cycle, but how long it lasts is uncertain. Once it slows, the hidden pressures will become more visible.”On the deficit debate, Aziz was clear that tariffs offer little relief. “Tariffs and the trade deficit are separate issues. A half-percent rise in the US fiscal deficit will need funding. If it comes from foreign borrowing, the current account deficit widens. If funded domestically, savings must rise, but then consumption or investment will fall, slowing growth. There is no free lunch.”As Washington awaits the Supreme Court’s ruling, the stakes are high. A decision against tariffs could reset global trade relations, while the US continues to grapple with the balancing act between fiscal spending, domestic savings, and growth.

Gold bulls were in buoyant mood on Monday with domestic yellow metal prices surging 1.2% or by 1,343 per 10 gram to new lifetime high of Rs 1,11,190. The beginning of Navratris, US Federal Reserve's monetary easing and US President Donald Trump's H1-B visa row collectively lifted sentiments for bullion.Gold extended this year's gains to 45% or Rs 34,300 per 10 grams while in September, its rally was to the tune of 7% or Rs 7,366.Around 2 pm today, the October gold futures on the MCX were trading at Rs 1,11,127, rising by Rs 1,280 or 1.2%. The prices of gold were trading at $3,748.20 per troy ounce, gaining by $42.40 or over 1% on the COMEX around this time.MCX silver contracts too hit their fresh lifetime high of Rs 1,32,665 per kg, rising by 2.2% or Rs 2,827. Silver's shine has outgrown gold so far this year. The domestic price of white metal has risen 52% in 2025, getting dearer by Rs 45,002 per kg. In September so far, the rally has been 10% or Rs 11,900.Both gold and silver have been the best performing asset class in 2025, significantly outperforming equities. Not just the festival fervour, gold has got a fresh impetus on Fed's 25 bps rate cut and Trump's latest H1-B visa proclamation to introduce a $100,000 fee for new applications has stirred the hornet's nest, bringing a cloud of uncertainty for global IT companies, especially India. "The bullion is expected to remain supported by firm festive demand in Asia, while ETFs and central banks continue to remain net buyers. Safe-haven buying remains mixed at current high prices," Pranav Mer, Vice President, EBG – Commodity & Currency Research at JM Financial Services said, commenting on the current trends and bullion's outlook.Anuj Gupta, Director at Ya Wealth Global Research sees further upside to the rally during the festive season and recommends buy on both gold and silver.Gold and silver trading strategy:Buy MCX gold at Rs 1,10,000 with a stop loss of Rs 1,08,000 and target of Rs 1,13,000-1,15,000Buy MCX silver at Rs 1,30,000 with a stop loss of Rs 1,27,000 and target of Rs 1,35,000-1,37,000(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)