Majority of Muslims want Ram temple in Babri Masjid land: UP deputy CM

New Delhi, Jul 30: India's gold demand in 2020 is expected to fall to the lowest level in 26 years with domestic bullion prices hitting a record high and as falling disposable incomes could curtail retail purchases, the World Gold Council (WGC) said on Thursday.

Lower demand by the world's second-biggest bullion consumer could limit a rally in global prices, which hit a record high earlier this month, although it could also reduce India's trade deficit and support the ailing rupee.

"Fast rising gold prices could act as headwinds," said Somasundaram PR, the managing director of WGC's Indian operations.

Local gold futures have jumped 35% so far this year after rising a quarter in 2019.

India's gold consumption in the first half of 2020 plunged 56% on-year to 165.6 tonnes. Meanwhile, the coronavirus-triggered lockdown also slashed demand by 70% in the June quarter to 63.7 tonnes, the lowest in more than a decade, the WGC said in a report published on Thursday.

Millions of Indians have lost their jobs or taken a pay cut after the country imposed a lockdown on its 1.3 billion people to curb the spread of the virus that has infected more than 1.5 million Indians.

Consumption is generally high during the June quarter due to weddings and key festivals such as Akshaya Tritiya, but lockdown restrictions kept shoppers indoors this year.

The weak demand in the first half could drag down India's gold consumption in 2020 to the lowest since 1994, when demand stood at 415 tonnes, Somasundaram said, adding that it is still difficult to provide an estimate for full-year demand as the coronavirus crisis is still unfolding.

"Indian demand has previously jumped as much as 300 tonnes in a quarter. Latent demand could come out in the second half," Somasundaram said.

New Delhi, Jul 27: India’s coronavirus epidemic is now growing at the fastest in the world, increasing 20% over the last week to more than 14 lakh confirmed cases, according to Bloomberg’s Coronavirus Tracker.

Infections in the South Asian nation of 130 crore people have reached 14.3 lakh, including 32,771 deaths, India’s health ministry said, with daily cases close to a record 50,000 on Monday. India is only trailing the US and Brazil now in the number of confirmed infections, but its growth in new cases is the fastest.

Maharashtra, Tamil Nadu, Andhra Pradesh and Karnataka are among the states where the maximum number of daily cares are being reported. The world’s second-most populous country has been ramping up testing, with 515,472 samples taken on Sunday, according to the Indian Council of Medical Research.

Still, India and Brazil have some of the world’s lowest testing rates, with 11.8 tests and 11.93 tests per 1,000 people respectively, compared to the US with 152.98 tests per 1,000 and Russia with 184.34, according to Our World in Data, a project based at the University of Oxford in the UK.

Pathanamthitta, Aug 9 : An orange alert has been issued in Kerala's Pathanamthitta district as the water level in Pamba dam is now flowing at 983.05 metres and it is likely to reach 983.50 metres within an hour.

A red alert will be declared at 984.5 metres and dam will open when the water level reaches 985 metres.

"The water level in Pamba dam is 983.05 metres now and is likely to reach 983.50 metres within an hour. So, the second alert- orange alert has been issued. A red alert will be declared at 984.5 metres and dam will open when it reaches 985 metres," said Pathanamthitta District Collector.

Meanwhile, a portion of the Shiva Temple in Aluva continues to remain submerged. However, the water level in the Periyar River is receding gradually and more part of the temple is above the water level now. 

As Kerala has been receiving heavy rain for the past few days, severe waterlogging affects traffic movement at Mannuthy bypass in Thrissur on Saturday.

On Friday, the India Meteorological Department (IMD) had issued a red alert in Kozhikode district. It had also predicted rainfall in different parts of the state.

Due to heavy downpour, a massive landslide had occurred in Idukki district recently. The death toll in Idukki landslide has risen to 26, Kerala Chief Minister Pinarayi Vijayan said on Saturday.

The Chief Minister said that monsoon fury continues to be severe in the state.