Gold, silver prices tumble on weak global cues

June 20, 2013

Gold_silver_pricesNew Delhi, Jun 20: Both the precious metals, gold and silver tumbled in the national capital on Thursday on heavy sell-off by stockists, triggered by a weak trend in overseas markets.

While gold fell by Rs. 400 to Rs. 28,000 per ten grams, silver plunged by Rs. 1,500 to Rs. 43,100 per kg on poor offtake.

Traders said sentiment dampened after gold fell to the lowest in more than 2.5 years after U.S. Federal Reserve Chairman Ben S Bernanke said asset purchases may be reduced later this year as the U.S. economy recovers.

However, marketmen said, weakening rupee, which made imports costlier, cushioned the fall to some extent.

Meanwhile, rupee after touching life-time low of 60 against the dollar, was trading at 59.77, still down by 107 paise over its on Wednesday’s close of 58.70.

Gold in London, which normally sets price trend on the domestic front, dropped by 3.4 per cent to $ 1,304.75 an ounce, its lowest since September 30, 2010. Silver fell by 6.2 per cent to $ 20.08 an ounce, the cheapest since September 14, 2010.

On the domestic front, gold of 99.9 and 99.5 per cent purity plummeted by Rs. 400 each to Rs. 28,000 and Rs 27,800 per ten grams, respectively.

The yellow metal had lost Rs. 80 on Wednesday. Sovereign followed suit and declined by Rs. 200 to Rs. 24,200 per piece of eight gram.

In a similar fashion, silver ready dropped by a whopping Rs. 1,500 to Rs. 43,100 per kg and weekly-based delivery by Rs. 1,280 to Rs. 42,450 per kg. Silver coins also nosedived by Rs. 2,000 to Rs. 78,000 for buying and Rs. 79,000 for selling of 100 pieces.

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News Network
March 23,2020

New Delhi, Mar 20: Prime Minister Narendra Modi on Monday appealed to state governments to ensure that rules and regulations of the coronavirus lockdown are enforced as he noted that many people are not taking the measure seriously.

"Many people are still not taking the lockdown seriously. Please save yourself, save your family, follow the instructions seriously. I request state governments to ensure rules and laws are followed," he said in a tweet in Hindi.

The Centre and state governments have decided to completely lock down 80 districts across the country where coronavirus cases have been reported.

Uttar Pradesh, Maharashtra, Punjab, Karnataka, Tamil Nadu and Kerala announced lockdown in many districts.

Delhi will be locked down from 6 am on March 23 till midnight on March 31.

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News Network
June 25,2020

India has jumped past 4.5 lakh coronavirus cases and 14,476 people have succumbed to the viral infection so far. In this backdrop, speaking to IANS in an exclusive interview, AIIMS Director Randeep Guleria said India is also vulnerable to second wave of coronavirus and people should continue to follow social distancing, wearing mask and other precautions, after cases begin to decline.

He added that in order to contain the outbreak of Covid-19, a limited lockdown in hotspots, where volume of cases is very high, may be considered along with a micro-plan to prevent leakage of cases from these areas to other non-containment areas. Excerpts of the interview are below:

Q: Reports say China and South Korea are witnessing a second wave of coronavirus infection, what is this second wave, is India also vulnerable to this?

A: When cases come down significantly, people tend to drop their guard against the viral infection, and this leads to the second wave (which means a sudden increase in the number of cases). After cases begin to decline, people should continue to follow the precautions -- continue to maintain social distancing and wear masks regularly. See what happened in Singapore, it was struck by a second wave of coronavirus. Look, what happened in the 1918 pandemic, people dropped their guard and the second wave of viral infection struck back. If people do not follow social distancing then the spike in cases is apparent. We need to take these precautions at least for one year. India is also vulnerable to this second wave.

Q: If Covid-19 cases continue to rise rapidly, do you think we need another lockdown in areas where volume of cases are very high?

A: A large volume of cases is concentrated in specific areas like hotspots, and in order to maintain things in order, we may need a limited lockdown in these areas. This should be followed by a micro-plan which entails extensive testing of people and also extensive contact tracing of people who have got in touch with positive people. Need to ensure there is no leakage of cases from these areas. People from these areas should not mix with others in non-containment areas. This will aid in containing the outbreak of the virus. People who have developed symptoms should get themselves tested, especially in the containment areas.

Q: With more than 4.5 lakh cases and close to 14,500 deaths, do you think India has reached its peak and a decline in cases is prominent?

A: The cases will continue to increase for some time. The doubling time of cases has also increased. But, the cases will also begin to flatten. Though, it is difficult to give an exact time period in this viral infection, it seems, the growth in cases will flatten in the end of July or beginning of August. A decline will come to this viral infection, but it does not mean that people should drop their guard. As a measure, we need to decrease community participation and citizens should continue to follow social distancing. People should get themselves tested. All these efforts will help in preventing people from contracting this virus. These precautions will also prevent us from the second wave, and we must continue to take precautions. The virus has not gone away, it is still lurking.

Q: India has crossed the 4.5 lakh coronavirus cases so far, although our recovery rate is good, but still 10,000 to 15,000 cases are reported daily. Why do cases continue to spiral, what is the reason?

A: We have to remember a few things -- the bulk of cases are in 10 cities, nearly 70 per cent, and if we take into account cases per million population, the number is not very high, as compared with countries including countries in Europe. Many European countries put together still do not add up to the Indian population. Do not compare India to countries like Italy, Spain etc. We need to focus on hotspots, which contribute to between 70 -80 per cent of cases, and we have to identify cases in these areas at an early stage. The population density is very high in these cities. People in lower socio-economic status are highly vulnerable to the viral infection, as many live together in small spaces and there is a lot of mixing of people happening there. Look at the market places, people are not following social distancing and not wearing masks. In fact, many are in close vicinity of each other.

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Agencies
May 17,2020

New Delhi, May 17: With the highest-ever spike of close to 5,000 cases in the past 24 hours, the COVID-19 count in India has crossed 90,000 on Sunday.

With an increase of 4,987 COVID-19 cases being reported in the last 24 hours, the count has reached 90,927, according to the Union Ministry of Health and Family Welfare.

The total number of active cases in the country stands at 53,946 today, while 2,872 deaths have been recorded due to the infection so far, with one patient having migrated. 120 deaths were reported in the last 24 hours.

However, on the positive side, close to 4,000 patients have also been cured and discharged in the past 24 hours, taking the tally of cured patients to 34,108.

With 30,706 confirmed cases, Maharashtra remains the worst-affected by the infection in the country.

It is followed by Gujarat and Tamil Nadu, with 10,988 and 10,585 cases, respectively.
The national capital, with 9,333 cases, is also one of the regions which is badly affected by the infection.

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