Gold price hits 14-month high, surges to Rs 31,450 per 10 gram

Agencies
January 25, 2018

New Delhi, Jan 25: Gold prices soared by Rs 350 to trade at over 14-month high of Rs 31,450 per 10 gram on Thursday, tracking a firm trend overseas amid pick-up in buying by local jewellers.

Silver regained the Rs 41,000-mark by jumping Rs 1,100 on increased offtake by industrial units and coin makers.

Bullion traders attributed the rally in gold to a firm trend overseas as the dollar weakened to near three-year lows in the wake of comments by US Treasury secretary Steven Mnuchin that he welcomed a weaker currency, raising demand for the precious metal as a safe haven.

Besides, an uptick in seasonal buying by local jewellers firmed up the prices, they added.

Globally, gold ruled firm as it rose 0.43 percent to trade at nearly 1-1/2 year high of USD 1,363.60 an ounce in Singapore. Silver also rose by 0.29 percent to USD 17.58 an ounce.

In the national capital, gold of 99.9 percent and 99.5 percent purity shot up by Rs 350 each to Rs 31,450 and Rs 31,300 per ten gram, respectively, a level last seen on November 9, 2016. It had gained Rs 25 in yesterday's trade.

Sovereign however held steady at Rs 24,800 per piece of eight gram.

Tracking gold, silver ready jumped Rs 1,100 to Rs 41,000 per kg and weekly-based delivery Rs 1,190 to Rs 40,130 per kg.

Silver coins however remained steady at Rs 74,000 for buying and Rs 75,000 for selling of 100 pieces.

Comments

Althaf
 - 
Thursday, 25 Jan 2018

Acche din for those husbands whose wife have lot of gold and Bure din for those who are planning to buy gold for their marriage. 

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Agencies
February 10,2020

New delhi, Feb 10: The Supreme Court on Monday upheld the constitutional validity of the SC/ST Amendment Act, 2018, and said a court can grant anticipatory bail only in cases where a prima facie case is not made out.

A bench headed by Justice Arun Mishra said a preliminary inquiry is not essential before lodging an FIR under the act and the approval of senior police officials is not needed.

Justice Ravindra Bhat, the other member of the bench, said in a concurring verdict that every citizen needs to treat fellow citizens equally and foster the concept of fraternity.

Justice Bhat said a court can quash the FIR if a prima facie case is not made out under the SC/ST Act and the liberal use of anticipatory bail will defeat the intention of Parliament.

The top court's verdict came on a batch of PILs challenging the validity of the SC/ST Amendment Act of 2018, which was brought to nullify the effect of the apex court's 2018 ruling, which had diluted the provisions of the stringent Act.

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News Network
April 9,2020

New Delhi, Apr 9: Kerala opposition coalition United Democratic Front on Thursday submitted a roadmap to Prime Minister Narendra Modi for staggered lifting of ongoing lockdown due to COVID-19 pandemic.

The coalition led by leader of opposition Ramesh Chennithala has given a set of recommendations to Modi in this regard, which include those made by an expert committee headed by deputy leader of opposition M K Muneer.

The committee was set up to suggest measures to be taken by the government for smooth transition from lockdown to normalcy.

It listed an eight-point exit strategy for removing lockdown in a staggered approach at a district level, with emphasis on hotspots to avoid further spread of virus and ensure smooth restart of economy.

This approach is tuned to the unique needs of each district and all the districts should also be categorised as per their risk levels, the report said.

The report has also been submitted to chief ministers of all states, former prime minister Manmohan Singh, Congress president Sonia Gandhi, senior Congress leader Rahul Gandhi among others.

The committee recommended that COVID-19 rapid testing must be enhanced across the country and the testing target be widened to 500 tests per one lakh population.

"A step-by-step approach is necessary for each sector along with conditions that need to be considered for each sector," the report said.

"There is a need for a comprehensive economic stimulus package in addition to the ones already announced after considering all the industries," it added.

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News Network
June 13,2020

New Delhi, June 13: A quarantine notice pasted outside former Prime Minister Manmohan Singh’s 3, Motilal Nehru Place residence has raised speculations among media and political circles.

According to reports, the daughter of a domestic help who works at Singh’s residence has tested positive. She and her family, who live in the servant quarters, have been quarantined.

Singh, who has not been keeping well for some time, is slowly getting active. Congress leaders said the former Prime Minister attended a meeting of the party’s consultative committee on Thursday through video conference.

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