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Gold declines Rs 500 to Rs 98,500/10 g; silver trades flat

New Delhi, May 29 (PTI) Gold prices declined by Rs 500 to Rs 98,500 per 10 grams in the national capital on Thursday amid weak global cues, according to the All India Sarafa Association. The yellow metal of 99.5 per cent purity fell Rs 500 to Rs 98,000 per 10 grams (inclusive of all taxes). “Gold prices continued to correct as easing tariff risks, and a more cautious Federal Reserve dampened safe-haven demand,” Abans Financial Services’ Chief Executive Officer Chintan Mehta said. Mehta further said that the US Federal Reserve’s May meeting minutes revealed that policymakers are adopting a wait-and-see

US court blocks most Trump tariffs, says president exceeded his authority

NEW YORK, May 28 (Reuters) – A U.S. trade court blocked President Donald Trump’s tariffs from going into effect in a sweeping ruling on Wednesday that found the president overstepped his authority by imposing across-the-board duties on imports from U.S. trading partners. The Court of International Trade said the U.S. Constitution gives Congress exclusive authority to regulate commerce with other countries that is not overridden by the president’s emergency powers to safeguard the U.S. economy. “The court does not pass upon the wisdom or likely effectiveness of the President’s use of tariffs as leverage,” a three-judge panel said in the

Markets rebound in early trade after two days of decline; Sensex jumps over 500 points

Mumbai, May 29 (PTI) Equity benchmark indices Sensex and Nifty surged in early trade on Thursday after two days of decline, mirroring a rally in Asian markets amid positive developments on the US tariffs front. Also, foreign fund inflows drove equity markets higher. The 30-share BSE benchmark gauge Sensex jumped 504.57 points to 81,816.89 in early trade. The NSE Nifty climbed 137.25 points to 24,889.70. From the Sensex firms, Infosys, Tata Steel, Tech Mahindra, HCL Tech, Tata Consultancy Services, Sun Pharma, Tata Motors and HDFC Bank were among the biggest gainers. UltraTech Cement, Bajaj Finance, Bajaj Finserv and Nestle were

Rupee declines 7 paise to 85.45 against US dollar in early trade

Rupee hits record low

Mumbai, May 29 (PTI) The rupee depreciated 7 paise to 85.45 against the US dollar in early trade on Thursday as the American currency strengthened after the US federal court blocked President Donald Trump’s sweeping reciprocal tariff order, fuelling hope of ending global trade uncertainties. The local unit was weighed down by higher crude oil prices overseas and disappointing domestic data on industrial output for April. However, inflow of foreign funds and buying trend in domestic equities capped the rupee’s fall, forex traders said. At the interbank foreign exchange, the domestic unit opened at 85.56 and gained some ground to

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