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Wednesday, Apr 16, 2025
The price of 22k gold also rose by ₹95 on the day, climbing from ₹8,720 to ₹8,815 per gram.
Trump had already moved to freeze $2.2 billion of federal funds on Monday in retaliation for the top university's defiance of the administration's push to bring campuses to heel.
India and the US agreed in February to work on the first phase of a trade deal to be concluded late this year, with a view to reaching bilateral trade worth $500 billion by 2030.
The vacillating US trade policies have created uncertainty for global oil markets and prompted OPEC on Monday to lower its demand outlook for the first time since December.
Experts note that the uncertainty has created favorable conditions for gold, which is predicted to climb to new heights this year.
On Friday, Trump administration granted exclusions from the steep reciprocal tariffs on smartphones and a set of other electronics products.
Iran approached the talks warily, sceptical that they could lead to a deal and suspicious of Trump, who has repeatedly threatened to bomb Iran if it does not halt its escalating uranium enrichment programme.
China's retaliation intensified the economic turmoil unleashed by Trump's tariffs.
China's commerce ministry said it was open to a dialogue, but it must be based on mutual respect and equality.
US President Donald Trump announced a 90 day pause on his sweeping tariffs Wednesday, giving all countries a 10 percent baseline except China, which will see even higher levies.
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