Priya Varrier’s wink is an answer to saffronists’ protest against Valentine’s Day: Jignesh

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."

New Delhi, Apr 16: Actor Salman Khan on Thursday put out a sharp message to the "jokers" who were flouting government-imposed guidelines and venturing out during the ongoing lockdown, putting at risk countless lives to the deadly coronavirus.

In his characteristic 'Bhai' style, Salman also appealed to people to not attack doctors, nurses and police personnel who are in the frontline of the battle against COVID-19.

In a 10-minute hard hitting video shared on Instagram he begins with a "Hello, namaste, salaam, sasriyakaal, Kem Cho' in typical TV reality show 'Big Boss' style and goes on to say 'Zindagi ka Bigg Boss' has begun with the entire country staying in lockdown mode at home.
He said he had taken a two-day "chhutti" (leave) but "This corona, COVID-19 has given everyone a 'chutti'."

Khan said he was staying at his farmhouse in Panvel near Mumbai with his family including his mother, two sisters their children and some other people who had come to visit.

In the video he said that he had sent a friend to get rations for the family from a village around five kilometres away. He recounted that the police stopped him and in the process, his friend took off the mask to speak to the policeman who reprimanded him and asked him to put the mask back on. Salman said that he too chided his friend for doing such a thing.

"Don't go out, don't do social gatherings, stay with your family, the government has said if you are doing namaaz, do it at home, do pooja at home..." the actor said, adding that those who had a wish to kill their families should step out.
"Go out get your ration, nobody is stopping you, go nearby but wear your masks, your gloves, go alone," the actor said underlining that the government has assured that everybody will get ration.

The actor said that whoever does not understand a coronavirus positive patient's pain is anti-human.

He pointed out that doctors, nurses and policemen are putting in long hours to curb the spread of coronavirus and urged people to respect their work and stay inside.

The actor said policemen would not have taken action and hit people if they followed guidelines and stayed inside. "If you weren't going out with friends, police wouldn't have hit you. Do you think police are enjoying it?," he asked.

"Doctors and nurses are working to save your lives and what do you do? You started pelting stones at them? Those who have been diagnosed with coronavirus, are running away from the hospitals. Where are you running? Towards life or death?," he questioned in his video.

The 'Dabangg 2' star appreciated the efforts by the frontline warriors and said, "the virus that started in China is over in China now, but because of a few jokers, the whole of India will sit at home for a long time."

The 54-year-old star said that he was aware of many people who wouldn't come out of their homes earlier but have started doing so since they've been asked to not go out.

"You are putting everyone's lives at risk," the Bajrangi Bhaijaan actor said.

Salman concluded by urging people to respect the work of the doctors, nurses, police personnel and those who work in banks, take care to ensure that the disease does not spread further and pray that it does not come to a situation where the military has to be called in to stop people from doing the wrong thing.

Filmmaker Vivek Ranjan Agnihotri took to Twitter to shared the video message. "Very well said @BeingSalmanKhan I hope wisdom prevails everywhere," he tweeted.

Bengaluru, Feb 26: The police remand of student activist Amulya Leona Noronha, who was produced before a Magistrate, after a no-show at the Metropolitan Magistrate Court, was extended by 10 more days.

The Fifth Additional Metropolitan Magistrate at the Magistrate's home on Tuesday night had remanded her to police custody for 10 days, less than the 14 days asked for by the Special Investigative Team, considering that she has already spent over four days in judicial custody.

Amulya Noronha, a student of NMKRV College for Women, had raised pro-Pakistan slogans by shouting ''Pakistan Zindabad'' at an anti-CAA protest in Bangalore on 20th February following which the city police filed a case of sedition against her.