India's gold demand falls 15% to 118.1 tn in Mar qtr
According to the WGC forecast, India's gold demand for 2025 is expected to be between 700-800 tonne. Gold prices have risen 25 per cent since the beginning of 2025, approaching the key psychological threshold of Rs1,00,000 per 10 grams, affecting consumer buying patterns.
'The elevated prices have impacted affordability. Yet, the enduring cultural significance of gold, especially ahead of Akshaya Tritiya and the upcoming wedding season, continues to support buying sentiment,' WGC India CEO Sachin Jain said in its quarterly report.
According to experts, the gold market is humming with excitement on the auspicious occasion of Akshaya Tritiya, which holds immense cultural significance in India, traditionally marking a surge in gold purchases.
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First Post
8 hours ago
- First Post
A 113-year-old Sweden church will set off on 5-km road trip. Here's how and why
Sweden's Kiruna Church, a century-old landmark, will begin its two-day journey to a new site today. The move is part of a three-decade plan to relocate thousands of residents and buildings from the mining town of Kiruna in Lapland. Over the next two days, the church will be carried about 5 kilometres (3 miles) east to the new town centre Kiruna Kyrka, a Swedish Lutheran church built in 1912, is being transported five kilometres. Reuters Sweden's Kiruna Church, a landmark with over a century of history, will begin its two-day move to a new location on Tuesday. The 600-ton church, built 113 years ago, has been lifted from its base and placed on a specially designed trailer. This is part of a long-running plan that has been underway for three decades to shift thousands of residents and buildings from the mining town of Kiruna in Lapland. This week, the church will be transported about 5 kilometres (3 miles) east to the town's new centre. STORY CONTINUES BELOW THIS AD But why is the church being moved? And how will the process take place? Here's a look: Why is the historic church being moved? The move is taking place because the world's largest underground iron ore mine is putting the town at risk. Kiruna's town centre is being shifted due to the massive LKAB iron ore mine, which has been dug deeper and deeper over the years. This has weakened the ground in many areas, increasing the risk of collapse. Kiruna Kyrka, a Swedish Lutheran church built in 1912 and weighing 672 tonnes, is being transported five kilometres (three miles) on remote-controlled flatbed trailers. The move is taking place at a speed of about half a kilometre an hour and will take two days to complete. The church is just one part of a much larger relocation. LKAB has said that about 3,000 homes and 6,000 residents will have to move. The 600-ton church, built 113 years ago, has been lifted from its base. Reuters While many public and commercial buildings are being demolished, some, like the church, are being shifted whole. Other buildings are being taken apart and rebuilt near the new town centre. New homes, shops and a city hall have already been constructed. The project will allow LKAB, which supplies 80% of Europe's iron ore, to keep the Kiruna mine running for many more years. Since the 1890s, the state-owned company has extracted around 2 billion tonnes of ore from the area, mostly from Kiruna. The remaining mineral resources in Kiruna, along with nearby Svappavaara and Malmberget, are thought to be about 6 billion tonnes. STORY CONTINUES BELOW THIS AD How will it be moved? The relocation of the town began nearly twenty years ago and is still ongoing. The new town centre was officially opened in September 2022. Moving the church alone will cost 500 million kronor ($52 million), a bill being covered by LKAB. According to officials, the most difficult stage came at the beginning, when the 1,200-tonne convoy had to make a turn and carefully descend a small slope before reaching the main road. In the days leading up to the move, workers dug around the church so that large yellow beams could be placed underneath. This allowed the building to be lifted and set onto the trailers. The relocation has attracted huge attention. More than 10,000 people are expected to watch the journey in a town of 18,000 residents. The church is one of 23 cultural landmarks being relocated as part of the wider project. LKAB has described it as 'a unique event in world history'. Moving the church alone will cost 500 million kronor. Reuters While bigger and heavier structures have been shifted before, those cases have usually involved ports or industrial sites, not small towns. The route itself had to be prepared. Roads were widened from nine metres to 24 metres and flattened to ensure the trailers could move smoothly. LKAB said this process alone took a year. STORY CONTINUES BELOW THIS AD The company gave people affected by the move a choice between compensation or having their homes and buildings rebuilt. 'But when it came to the church, we decided it was best to move it in one piece. We saw the value in that,' LKAB project manager Stefan Holmblad Johansson told AFP. 'It is with great reverence we have undertaken this project,' he added. 'This is not just any building, it's a church.' LKAB said the church was 'thoroughly examined ahead of the move to protect its cultural assets in the best possible way, to ensure that the altarpiece and organ in particular are moved with care'. The operation will preserve the church, but it will also take it away from the ground it has stood on for more than 100 years. With inputs from agencies
Time of India
10 hours ago
- Time of India
Gauhati HC questions Assam govt decision of transferring 'entire district' to a private company
The Gauhati high court has expressed shock over the grant of 3,000 bighas (4.02 sq km) of land to a cement company in Assam's Dima Hasao district, which falls under the 6th Schedule of the Constitution , according to a report in TOI. Justice Sanjay Kumar Medhi, while hearing two petitions related to the land allocation, remarked, '3,000 bighas! The entire district? What is going on? 3,000 bighas allotted to a private company? We know how barren the land is... 3,000 bighas? What kind of decision is this? Is this some kind of joke or what? Your need is not the issue... the public interest is the issue.' Petitions before the court The court was hearing one petition filed by Sonesh Hojai and 21 others against the state government and six others, including the cement company, and another petition filed by the cement company against the state government and 10 others. Both matters concern the allocation of land in Dima Hasao. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Play War Thunder now for free War Thunder Play Now Direction to NCHAC counsel The judge directed the standing counsel of the North Cachar Hills Autonomous Council (NCHAC), C Sarma, to obtain records containing the policy under which such a large tract of land was allotted to a private company. 'The aforesaid direction has been given by taking into account that the district is a 6th Scheduled district under the Constitution of India, where the priority has to be given to the rights and interest of the tribal people residing there,' the court stated in its order. Environmental significance of area The court also noted that the land in question is located in Umrangso in Dima Hasao, which is known as an environmental hotspot with hot springs, a stopover for migratory birds, and diverse wildlife. Live Events Cement company's submission Appearing for the cement company, counsel G Goswami argued that the land allotted was barren and required for the company's operations. The court, however, did not accept these submissions and reiterated its direction to produce the relevant policy documents regarding the allotment of 3,000 bighas of land to the factory. The court said it would examine the allotment process in detail before passing further orders. The matter has been posted for further hearing on September 1.
Time of India
12 hours ago
- Time of India
UAE: Falcon prices hit $10,000 at Abu Dhabi auctions ahead of major hunting and equestrian expo
Prized birds of prey sold for tens of thousands of dirhams in Abu Dhabi/Representative Image Falcon merchants and collectors from across the UAE and beyond flocked to the Abu Dhabi National Exhibition Centre this weekend for a series of auctions that saw prized birds of prey sold for tens of thousands of dirhams. The sales precede the prestigious 20th Abu Dhabi International Hunting and Equestrian Exhibition, where more than 1,000 falcons will be showcased, cementing the region's deep-rooted heritage of falconry. TL;DR: Falcons fetched prices up to Dh38,000 at Abu Dhabi auctions, ahead of the main exhibition. Four out of eight auctions are held before the nine-day Abu Dhabi International Hunting and Equestrian Exhibition, starting August 30. Falconry, a tradition spanning over 4,000 years in the Arabian Peninsula, remains a central part of UAE culture and identity. Details of the auction & exhibition This year, auctions at the Abu Dhabi National Exhibition Centre are attracting merchants, breeders, and collectors eager to acquire top pedigree falcons. Notable sales included two birds purchased by Mubarak Al Amri for Dh22,000 and Dh38,000, used primarily for hunting, a practice that links present generations to their ancestors. Participants like Saif Al Meqbaly highlight falconry as a family tradition, reflecting lifelong passion and the enduring bond between local communities and these birds. The auction series forms part of the lead-up to the main event, the Abu Dhabi International Hunting and Equestrian Exhibition, running August 30 to September 7. Over 1,000 falcons will be assessed for pedigree, health, and suitability for competition or hunting. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Use an AI Writing Tool That Actually Understands Your Voice Grammarly Install Now Undo In recent years, top birds fetched extraordinarily high prices, one falcon was sold for Dh600,000 in 2023, while another set a record at Dh1.01 million in 2022. For 2025, a secure online bidding platform will be launched, making prestigious falcon auctions accessible to international enthusiasts and buyers. The Falcon: Symbolism & heritage in the UAE Falcons are revered symbols throughout the UAE and Arabian Peninsula. These majestic birds are central to Emirati identity, often depicted on national logos and heritage symbols. Falconry has been practiced for about 4,000 years, originally used by Bedouin as a vital hunting method for survival in harsh desert environments. Modern falconry blends sport, tradition, and conservation efforts. Today's competitions, breeding, and auctions emphasize pedigree, health, and ethical standards. The UAE remains a leading hub for the breeding, training, and trade of falcons worldwide, with strict regulations to ensure their welfare. The Abu Dhabi falcon auctions and the upcoming exhibition highlight deep respect for the past and innovative steps for global participation. Falconry remains a living heritage, uniting generations, fostering international exchange, and symbolizing pride across the Arabian Peninsula. FAQ 1. How much did falcons sell for at the Abu Dhabi auction? Falcons at the auction were sold for up to Dh38,000, with even higher prices in previous years. 2. What is the Abu Dhabi International Hunting and Equestrian Exhibition? It's a major annual event featuring falconry, equestrian sports, hunting, fishing, and conservation, held from August 30 to September 7, 2025. 3. Can bidders participate in falcon auctions online? Yes, a secure online platform will be launched this year to enable international bidding. 4. Why are falcons significant in UAE culture? Falconry has been part of Arabian heritage for over 4,000 years; falcons symbolize tradition, pride, and are featured on national logos. 5. What happens at a falcon auction? Merchants, breeders, and collectors bid on pedigree falcons for hunting, competition, and breeding, sometimes spending hundreds of thousands of dirhams.
