Mangalurean Vibhali Shetty wings ‘Sharjah Award for Excellence in Education’ 2018-19

Mangaluru, Apr 4: Dakshina Kannada district deputy commissioner (DC) Sindhu B Rupesh in an official reminder has ordered milk unions to disburse about 5,000 litres of milk to residents of notified and non-notified slums, construction labourers and migrant labourers and their families in shelters in the district.

A decision regarding the free distribution of milk to such needy families was taken in a meeting by the chief minister on April 1.

The DC has ordered cooperative milk unions in the district to distribute milk to such families from April 4 till April 14.

New Delhi, Jun 26: With looming uncertainty and no likelihood of an early economic recovery in sight, the bull run in gold prices is here to stay. Analysts expect domestic futures to touch ₹ 52,000 per 10 grams in the next few months, till Diwali.

Experts also predict that with the current trend, gold may reach historic levels around ₹ 65,000 per 10 grams in two years time.

Futures of the yellow metal have touched new highs in India off late. On Wednesday, the August contract of gold futures on the Multi-Commodity Exchange (MCX) touched an all-time high of Rs 48,589 per 10 grams.

It has, however corrected since and is currently trading at ₹ 48,057 on the MCX, higher by ₹ 116 or 0.24 per cent from its previous close.

Market experts are of the view that both domestic and international gold prices are yet not done breaching records and will touch new highs in days to come.

The resurgence in the number of new cases of coronavirus infection across the globe has added to the uncertainty and fears.

Speaking to media persons, Anuj Gupta, DVP for Commodities and Currencies Research at Angel Broking, noted: "In short term we are expecting it to reach ₹ 48,800-49,000 and for long term, we are expecting ₹ 51,000-Rs 52,000 till Diwali."

On the prices in the international market, he said that it may reach around $1,790 per ounce in the near term from the current levels of $1,762 and the long term, it is likely to be around $1,820-1,850 per ounce.

Gupta noted that with International Monetary Fund's (IMF) latest downward revision of economic outlook, both global and of India, and the rising number of cases and high demand by gold exchange traded funds (ETF) have led to this record breaking rise in gold prices.

Covid-19 battered India's economy is projected to contract by 4.5 per cent this fiscal, according to the IMF and the global output is projected to decline by 4.9 per cent in 2020, 1.9 percentage points below the IMF's April forecast.

Hareesh V, Head of Commodity Research at Geojit Financial Services, said that gold's safe haven appeal will remain on the higher side as there is little hope of a quick global economic recovery amid rising virus cases across the world.

"Increased geopolitical instability and an under-performing dollar also lift the metal's sentiments," he added.

According to Prathamesh Mallya, AVP Research, Non-Agro Commodities & Currencies at Angel Broking, said that with the global output to contract and the economies in a deeper recession than most anticipate, gold as an asset class is a safe bet for investors across the globe.

"Although, the physical demand has declined drastically due to the restrictions and lockdowns, the activity of global central banks and their net purchases of gold signal that uncertainty will continue for most of 2020," he said.

He was also of the view that in the international market price of the metal may move towards $1,850 per ounce and in the domestic market it is likely to move higher towards Rs 50,000 per 10 grams.

"The investment demand as seen in the net additions of ETF holdings also signals that gold will shine for a much longer time even if the pandemic is under control. Till then, keep buying gold, if not in physical form, but in digital form," Mallya added.

Industry insiders like Aditya Pethe, Director, WHP Jewellers said: "I basically feel that the current trend for the gold is bullish and for the coming next 2 years, it is likely to move upwards. No one can predict the exact price as currently the trend is on rise but it might change after 6 months. In general for the coming 6 months to one year, the gold prices are likely to cross $2,000 which comes to roughly Rs 55,000. For a temporary moment it may reduce, basically fluctuate as well but overall trend of gold is going to be bullish."

On his part, Ishu Datwani, Founder, Anmol Jewellers said: "Yes - it's very likely that the gold price could easily go up to Rs 60,000-Rs 65,000 in the next two years. There is also a possibility of it going up even more."

"A lot of banks have been buying gold and there is also a possibility that the Indian rupee will depreciate against the dollar. This and geopolitical reasons will cause bullishness in gold."

Bengaluru, Jan 6: Karnataka Chief Minister BS Yediyurappa on Sunday launched the ruling BJP's outreach campaign in favour of the Citizenship Amendment Act (CAA) in Bengaluru.

"The CAA came into being after its amendment bill was passed in Parliament during its winter session with the support of major political parties. It is meant to give shelter and protection to Hindu minorities facing persecution in Pakistan, Bangladesh and Afghanistan. It does not take away any rights of Indians," Yediyurappa told residents on a door-to-door campaign in the city.

Accusing the opposition Congress of misleading the people on the CAA and inciting its protesters to indulge in violence, the chief minister said the Act does not cause any problem to all sections of Indians.

"There is no question of taking away anyone's citizenship, including that of Muslims, as the Act only facilitates the return of the Hindus persecuted in the neighbouring countries in the sub-continent," he asserted.

State deputy chief minister H.C. Ashwath Narayana and party's Bengaluru Central Lok Sabha member P.C. Mohan accompanied the chief minister on his outreach programme in some residential and commercial areas of the city.

As part of the nationwide campaign in favour the CAA, the party's state unit president Nalin Kumar Kateel and the state's dozen cabinet ministers led the campaign in other cities across the southern state.

"An awareness campaign will be peacefully held daily till January 15 across the state to counter the protests against it by students and other people at the behest of the Congress and Left parties," Kateel told reporters at Mangaluru, 350km southwest of Bengaluru.

Kateel is a BJP Lok Sabha member from the state's Dakshina Kannada seat.

Besides contacting the people directly at their doorstep through the party's leaders, cadres and supporters, the BJP is reaching all sections of society through social media and by holding pro-CAA rallies in all the 30-district headquarters across the state over the next 10 days.

"About 300 leaders and cadres of the party have fanned out in cities and towns across the state to explain the provisions of the CAA to the people and clarify their doubts, as the protesters were misleading them with wrong information about it," reiterated Kateel.

The CAA came into being after the President enacted the a law to give citizenship rights to Hindus, Sikhs, Jains, Parsis and Christians who have been allegedly persecuted as minorities in Afghanistan, Bangladesh and Pakistan over the last seven decades.

"A deliberate misinformation campaign has been carried out against the CAA by vested interests, misguiding a section of college/university students, their faculty, activists and members of the minority community on its provisions so as to create unrest and trigger violence in the country," Ravikumar claimed.

The ruling party also held rallies and public meetings in major cities like Mysuru, Mangaluru, Hubballi, Belagavi, Bellary and Kalaburagi across the state and enlightened the people on the benefits of the CAA.

"As social media is all-pervasive with greater reach and better impact, we are also reaching about one crore people of all ages through Kannada, Hindi and English script, messages and audio/video clips in the state during the fortnight campaign," added Kateel.