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Gold falls on strong US jobs data and improved trade outlook

Gold prices fell on Monday as a stronger-than-expected U.S. jobs report cooled expectations of interest rate cuts from the Federal Reserve, while optimism over easing trade tensions between U.S.-China weighed on the bullion's safe-haven demand.
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* Spot gold fell 0.2% to $3,303.19 an ounce, as of 0056 GMT. U.S. gold futures fell 0.7% to $3,323.40.
* Three of U.S. President Donald Trump's top aides will meet with their Chinese counterparts in London on Monday for talks aimed at resolving the trade dispute between the two largest economies that has kept global markets on edge.
* The U.S. economy added 139,000 jobs in May, surpassing analysts' expectations, while the unemployment rate was unchanged at 4.2%, the Labor Department said. * Wage growth also exceeded forecasts, dampening the likelihood of imminent rate cuts. * Investors have scaled back bets on rate cuts, now anticipating one reduction in October.
ADVERTISEMENT * Trump, meanwhile, said that a decision on the next Federal Reserve chair would be announced soon, adding that a "good Fed chair" would lower interest rates. * The U.S. dollar index edged slightly up, making gold more expensive for overseas buyers. * On the geopolitical front, Trump's order banning citizens of 12 countries from entering the U.S. goes into effect on Monday. * Russia stated on Sunday that its forces had advanced to the edge of Ukraine's Dnipropetrovsk region amid tensions over peace talks and the repatriation of soldiers' remains.
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* Gold, often seen as a hedge against inflation and geopolitical uncertainty, could face pressure from higher interest rates, which reduce its appeal as a non-yielding asset.
* Elsewhere, spot silver remains unchanged at $35.94 per ounce, platinum fell 0.5% to $1,163.10, while palladium was down 0.5% to $1,041.75. DATA/EVENTS (GMT) 0130 China PPI, CPI YY May.
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EV launches may stall as China chokes magnet supply: Crisil sounds alarm for auto sector
EV launches may stall as China chokes magnet supply: Crisil sounds alarm for auto sector

Time of India

time34 minutes ago

  • Time of India

EV launches may stall as China chokes magnet supply: Crisil sounds alarm for auto sector

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Most markets extend gains as China-US talks head into second day
Most markets extend gains as China-US talks head into second day

Time of India

time43 minutes ago

  • Time of India

Most markets extend gains as China-US talks head into second day

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Harvard prepares emergency plans as Trump's policies threaten international students
Harvard prepares emergency plans as Trump's policies threaten international students

Time of India

timean hour ago

  • Time of India

Harvard prepares emergency plans as Trump's policies threaten international students

Harvard University is working with global partners such as the University of Chicago and London Business School to safeguard the future of its international students amid tightening US visa rules under Trump-era policies. With international students making up about 27% of its student body, the university is urgently exploring backup plans to ensure educational continuity, according to a report by the Times of India. Visa restrictions raise concerns across campuses The Trump administration has enacted a federal ban on new international student admissions at Harvard, part of a broader immigration crackdown that includes heightened background checks and scrutiny of social media profiles. Students involved in campus protests, particularly those related to the Israel-Hamas conflict, have faced visa revocations and, in some cases, detentions. These measures have alarmed educational institutions across the US, especially since international students contribute around $45 billion annually to the American economy, according to the US Department of Commerce. The largest numbers of students come from China and India. (Join our ETNRI WhatsApp channel for all the latest updates) Universities seek global solutions In response, several universities are considering shifting international students to overseas campuses in visa-friendly countries like Qatar. Institutions such as New York University, Northeastern, and Hult International Business School have global branches and are exploring such transfers. However, differences in tuition fees, academic structures, and credit systems remain major hurdles. Live Events You Might Also Like: US resumes visa processing for Harvard students after court blocks Trump's policy ban Travel risks and summer planning As per the TOI report, international students are also increasingly concerned about leaving the US for summer breaks, fearing they might not be allowed back in, even with valid visas. At Macalester College in Minneapolis, which has 20% international student enrollment, the administration has launched initiatives to help students stay in the US during the break, including fundraising and internship programs. The National Association of Foreign Student Advisers (NAFSA) has criticized the visa policies, calling them 'an unacceptable assault' on international education. The group warned that the actions have created a climate of fear and confusion on campuses. Long-term impact on US higher education As elite institutions like Harvard respond to the crisis with stopgap measures, concerns grow that international students may begin choosing other countries such as Canada, the UK, or Australia, where immigration policies are perceived as more welcoming. Experts warn that prolonged restrictions could diminish the global reputation of US higher education. You Might Also Like: Degrees & dilemmas: Indian students at Harvard navigate uncertainties The situation remains fluid, with institutions mobilizing resources and partnerships to shield their international communities. However, the long-term future of international education in the US remains uncertain under continuing policy changes.

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