Gold sparkles on festive demand, rises by Rs 200
New Delhi, Oct 10 : Gold prices spurted by Rs 200 to Rs 31,850 per 10 grams on increased buying by jewellers and retailers at the bullion market Wednesday following beginning of auspicious week of 'Navratri'. A weak trend overseas, however, capped the gains.
Silver remained weak and traded RS 50 lower at Rs 39,200 per kg due to slackened demand from industrial units and coin makers.
Bullion traders said increased buying by local jewellers as well as retailers, driven by beginning of festive demand in domestic spot markets led to the rise in gold prices.
Globally, gold fell by 0.10 per cent to USD 1,188.90 an ounce and silver by 0.03 per cent to USD 14.45 an ounce in Singapore.
In the national capital, gold of 99.9 and 99.5 per cent purity surged by Rs 200 each to Rs 31,850 and Rs 31,700 per 10 grams, respectively. It had lost Rs 250 in the previous two days.
Sovereign gold, however, remained steady at Rs 24,600 per piece of eight grams on little doing.
On the other hand, silver ready fell by Rs 50 to trade at Rs 39,200 per kg, while weekly-based delivery declined Rs 85 to Rs 38,650 per kg.
Silver coins continued to be traded at previous level of Rs 73,000 for buying and Rs 74,000 for selling of 100 pieces.
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China urges India to join forces against U.S. tariffs amid growing trade tensions
New Delhi: The Chinese Embassy in India has called for solidarity between China and India in the face of escalating trade tensions triggered by the United States’ recent tariff hike.
On 8 April 2025, Yu Jing, spokesperson for the Chinese Embassy, highlighted the mutual benefits of China-India trade ties and encouraged both nations to work together to address the challenges posed by the U.S. administration’s tariff policy.
On 2 April 2025, U.S. President Donald Trump announced a 10% baseline tariff on all imports, with higher rates for selected countries. As a result, China now faces a cumulative tariff of 54% on its exports to the U.S., while India is subject to a 26% tariff. The move, intended to address trade imbalances, has caused ripples across the global economy.
In response, China has announced a 34% tariff on all U.S. goods, effective from 10 April 2025. President Trump has warned of an additional 50% tariff on Chinese imports unless Beijing retracts its retaliatory measures.
The embassy’s appeal for unity comes as Beijing seeks to build alliances amid increasing trade friction with Washington. However, experts remain sceptical about the possibility of deeper China-India cooperation due to longstanding political and strategic differences between the two neighbours.
