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Gold prices scale three-week peak as Trump widens trade war

July 14 (Reuters) – Gold prices touched a three-week high on Monday, supported by demand for safe-haven bullion after U.S. President Donald Trump threatened to impose a 30% tariff on imports from the European Union and Mexico. Spot gold was steady at $3,354.83 per ounce, as of 0410 GMT, after hitting its highest point since June 23 earlier in the session. U.S. gold futures rose 0.2% to $3,371. “We are seeing safe-haven demand coming back into the picture due to this uncertainty on the implementation of U.S. global trade tariffs policy,” OANDA senior market analyst Kelvin Wong said. “Near-term outlook

Markets decline in early trade dragged by IT stocks, foreign fund outflows

Mumbai, Jul 14 (PTI) Benchmark indices Sensex and Nifty dropped in early trade on Monday amid selling pressure in IT stocks and foreign fund outflows. The 30-share BSE Sensex declined 232.93 points to 82,267.54 in early trade. The 50-share NSE Nifty dipped 71.4 points to 25,078.45. From the Sensex firms, Bajaj Finance, Infosys, Tech Mahindra, Bharti Airtel, HCL Tech and Asian Paints were among the biggest laggards. However, Trent, Axis Bank, Mahindra & Mahindra and NTPC were among the gainers. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 5,104.22 crore on Friday, according to exchange data. “Nifty has been exhibiting

India wants air conditioners to be made with milder temperature settings to save energy

BENGALURU, India, July 14, 2025 (AP) — India’s government is seeking to limit temperature settings on new air conditioners to save electricity in the country that considered the fastest-growing market for them. The power minister proposed a rule in June requiring air conditioners sold in the country to have thermostats that can be set no lower than 20 Celsius (68 Fahrenheit). Officials hope the small change will create massive energy savings in the country of more than 1.4 billion people. About 10 million to 15 million air conditioners are sold annually as incomes and urbanization increase along with the temperatures.

Rupee declines 17 paise to 85.97 against US dollar in early trade

Mumbai, Jul 14 (PTI) The rupee fell 17 paise to 85.97 against the US dollar in early trade on Monday amid a strengthening greenback and FII outflows. Uncertainties over US trade tariffs further pressured the rupee, according to forex experts. At the interbank foreign exchange, the local unit opened 85.96 against the US dollar before slipping to 85.97, down 17 paise from its previous close. The rupee had closed at 85.80 against the US dollar on Friday. “As (US President Donald) Trump applies tariffs on various countries, India remains out of the tariffs band for now with negotiations still on

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