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Gold rebounds on dip buying despite US-China trade deal hopes

April 24 (Reuters) – Gold prices jumped more than 1% on Thursday on bargain buying, a day after the bullion hit a one-week low amid optimism over the U.S.-China trade deal. Spot gold rose 1.5% to $3,335.39 an ounce, as of 0312 GMT. U.S. gold futures gained 1.5% to $3,344. Non-yielding bullion, traditionally seen as a hedge against global instability, hit a record high of $3,500.05 on Tuesday but fell below the $3,300 level on Wednesday. “The kind of volatility we’re seeing this week is being driven by technicals and headline risk. But the fundamentals are strong, so dip buying

India blames Pakistan for a deadly attack in Kashmir and suspends a key water treaty

SRINAGAR, India, April 24, 2025 (AP) — India blamed Pakistan on Wednesday for a militant attack that killed 26 people in Indian-held Kashmir, downgrading diplomatic ties and suspending a crucial water-sharing treaty that has withstood two wars between the nuclear-armed rivals. The spray of gunfire at tourists Tuesday in a scenic, mountain-ringed valley was the worst assault in years targeting civilians in the restive region that is claimed by both countries. The unidentified gunmen also wounded 17 other people. India’s foreign secretary, Vikram Misri, announced the diplomatic moves against Pakistan at a news conference in New Delhi late Wednesday, saying

US tariffs could shave up to half a percentage point off India GDP, says finance secretary

WASHINGTON, April 23 (Reuters) – The direct hit from tariffs introduced by Donald Trump’s administration on India could shave off between 0.2-0.5 percentage points from GDP growth, the country’s Finance Secretary Ajay Seth said on Wednesday. “Now there is a sign of that…we grow about 6.5% in the current year,” said Seth, speaking at a Hudson Institute event on the sidelines of the Spring Meetings of the International Monetary Fund and World Bank in Washington. “Second order (effects) would be important,” said Seth, referring to concerns that trade turmoil would slow global growth. He added that he expected potential growth

Investigators probe deadly attack in disputed Kashmir as India vows to punish perpetrators

SRINAGAR, April 23, 2025 India (AP) — Security has been beefed up across Indian-controlled Kashmir a day after an attack killed at least 26 people, most of them tourists, as Indian forces launched a manhunt for the perpetrators of one of the deadliest attacks in the restive Himalayan region and leaders vowed to punish the perpetrators. Tens of thousands of armed police and soldiers fanned out across the region and erected additional checkpoints. They searched cars and used helicopters to search the forested mountains, and in some areas summoned former militants to police stations for questioning, reports said. Many shops

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