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Gold rises as Fed flags economic uncertainty; Sino-US trade talks in focus

May 8 (Reuters) – Gold climbed on Thursday after the Federal Reserve warned of rising inflation and labor market risks fuelling economic uncertainty, while investors awaited the outcome of the U.S.-China trade talks this weekend. Spot gold rose 0.9% to $3,392.90 an ounce, as of 0416 GMT. U.S. gold futures firmed 0.2% to $3,399.80. “The focus in the yellow market was on the statements from the Fed, as they left rates unchanged but flagged risk of higher inflation and unemployment,” said Reliance Securities’ senior commodity analyst Jigar Trivedi. The Fed held interest rates steady on Wednesday but said risks of

Sensex, Nifty trade flat in volatile trade amid geopolitical tensions

Mumbai, May 8 (PTI) Benchmark indices Sensex and Nifty began the day on an optimistic note on Thursday but later turned volatile, a day after India launched missile strikes on terrorist hideouts in Pakistan and Pakistan-Occupied Kashmir. Investors stayed on the sidelines amid rising geopolitical tensions. In a strong retaliation to the Pahalgam massacre, India’s armed forces early on Wednesday destroyed nine terror sites including that of Jaish-e-Mohammad and Lashkar-e-Taiba in Pakistan and Pakistan-occupied Kashmir (PoK) using deep strike missiles in a 25-minute-long “measured and non-escalatory” mission. The 30-share BSE benchmark gauge climbed 181.21 points to 80,927.99 in early trade.

US Judge temporarily blocks Trump administration’s new transit and homelessness grant conditions

SEATTLE, May 8, 2025 (AP) — A US federal judge on Wednesday temporarily blocked the Trump administration from imposing new conditions on hundreds of millions of dollars worth of mass transit grants for the Seattle area or homelessness services grants for Boston, New York, San Francisco and other local governments. The new conditions were designed to further President Donald Trump’s efforts to eliminate diversity, equity and inclusion policies; coerce local officials into assisting with the administration’s mass deportation efforts; and cut off information about lawful abortions, according to the lawsuit filed last week by eight cities and counties. The administration

Rupee rises 23 paise to 84.54 against US dollar in early trade

Mumbai, May 8 (PTI) The rupee gained 23 paise to 84.54 against the US dollar in early trade on Thursday, as the US Federal Reserve kept the federal fund rate steady. Forex traders said sustained foreign fund inflows and overall dollar weakness supported the local unit but geopolitical tensions continue to dent investor sentiments. At the interbank foreign exchange, the domestic unit opened at 84.61 and fell to an early low of 84.65 and a high of 84.54 against the greenback, registering a gain of 23 paise over its previous close. On Wednesday, the rupee depreciated 42 paise to close

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