Trade teams from China and the United States continue to talk and will meet in September, but tariff increases on Chinese goods set to go in place on Sunday will not be delayed, President Donald Trump said on Friday.

Gold price hike: The uncertainty on the US-China tariff war front, volatile oil market, murmurs of a recession, weak rupee and foreign funds outflow from India have all fuelled demand for this safe haven asset.

Trump has predicted a trade deal with China after positive gestures by Beijing, settling global markets that have been roiled by new tariffs from the world's two largest economies

Gold prices scaled a fresh six-year high on Monday, as the latest tit-for-tat tariffs by the United States and China in their year-long trade war battered global equities and boosted demand for safe-haven assets.

Trump announced the additional duty on some $550 billion in targeted Chinese goods on Friday, hours after China unveiled retaliatory tariffs on $75 billion worth of US goods

According to a Bloomberg Economics report, uncertainty over trade could lower world gross domestic product by 0.6 per cent in 2021 compared to a no-trade-war scenario, which translates to $585 billion shaved off the IMF's estimated world GDP of $97 trillion for that year

The top Tata Steel official said in order to insulate the steel industry from its cyclical nature, the company is focusing on strengthening the branded consumer business and downstream product portfolio

U.S. President Donald Trump vowed to impose a 10% tariff on $300 billion of Chinese imports from Sept. 1, sharply raising the stakes in a bruising trade war with China and jolting global financial markets.

Former Chairman of Tata Sons, Ratan Tata, was also present in the ceremony to bless the newly-wed couple.

India-US trade talks: Many tough questions on agricultural commodities, e-commerce, and steel and aluminum, have been put off until Piyush Goyal goes to Washington for talks next month.

At Friday's meeting, New Delhi expects U.S. officials to push against India's efforts to mandate foreign firms to store more of their data locally