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Hans India
3 days ago
- Business
- Hans India
Silver climbs Rs 2,000 to lifetime high; Gold up Rs 430
New Delhi: Silver prices hit a lifetime high of Rs1,04,100 per kilogram in the national capital on Thursday, and gold prices jumped Rs430 in line with strong global cues, according to the All India Sarafa Association. Continuing the winning run for the fourth straight session, the white metal bounced Rs2,000 to hit a fresh peak of Rs1,04,100 per kilogram (inclusive of all taxes) in the local markets. HDFC Securities' Senior Analyst of Commodities Saumil Gandhi said the 'price of silver reached a new all-time high in the domestic market. The rally is supported by strong fundamentals, higher industrial demand, inflation hedging, and tight global supply'. On March 19, silver hit its previous all-time high of Rs1,03,500 per kg. Gold of 99.9 per cent purity appreciated Rs430 to Rs99,690 per 10 grams (inclusive of all taxes). The precious metal of 99.5 per cent purity increased Rs400 to Rs99,100 per 10 grams (inclusive of all taxes) on Thursday. The most traded July contract for silver futures rallied by Rs3,833, or 3.78 per cent, to hit an all-time high of Rs1,05,213 per kg on the Multi Commodity Exchange. Additionally, gold futures for August contracts climbed Rs635 to Rs99,214 per 10 grams. Meanwhile, spot gold in the international markets rose $21.58 per ounce, or 0.64 per cent, to $3,393.93 per ounce. 'Gold prices traded higher, supported by a weaker dollar and renewed safe-haven demand amid lingering tariff uncertainty and US debt concerns. Globally, gold scaled above $3,395 per ounce, while MCX gold gained to trade above Rs98,450,' Jateen Trivedi, VP Research Analyst, Commodity and Currency at LKP Securities, said. The broader sentiment in the bullion space remains positive, driven by geopolitical tensions and ongoing imbalance in global trade and financial dynamics, Trivedi added. Also, spot silver went up nearly 4 per cent to trade at $35.80 per ounce in the overseas markets. 'Spot silver has surpassed the previous resistance level of $35 per ounce and is trading above that mark, reaching a 12-year high,' Gandhi said. According to Abans Financial Services' Chief Executive Officer Chintan Mehta, investors are focused on Friday's US non-farm payroll report for further clues on the Federal Reserve's monetary policy direction. In addition, any new geopolitical developments could add another layer of uncertainty, once again driving investors toward the safe haven of gold, Mehta said
Time of India
06-05-2025
- Time of India
Police arrest notorious criminal and seize drugs worth two lakh in nagpur crackdown
Nagpur: The city police arrested a notorious criminal and seized drugs and goods worth Rs2,03,500 from Vijay Rahangdale , a former murder accused, on Monday. The operation, conducted under the Narcotic Drugs and Psychotropic Substances (NDPS) Act, took place early Tuesday morning near Shastri Nagar NIT Ground, Wathoda T-Point. Tired of too many ads? go ad free now Acting on a tip-off, the NDPS squad, under the supervision of DCP Rahul Maknikar, nabbed Rahangdale. A search conducted in the presence of witnesses uncovered 20 grams of MD Mephedrone powder, a mobile phone, a moped, cash, an electronic weighing scale, and ziplock pouches. The seized items were valued at over Rs2 lakh. Rahangdale, a known criminal with 15 prior cases, including charges of murder, robbery, and theft under the Indian Penal Code, was taken into custody. The investigation revealed that Rahangdale allegedly procured the drugs from Shahid Sheikh of Yashodhara Nagar and intended to deliver them to woman peddler Prema Gaur. Rahangdale was nabbed near Gaur's residence. The NDPS team later arrested Shahid from his residence at Yashodhara Nagar. MD worth another Rs2 lakh, mobile phones, and other materials were also seized from him. The cops are now trying to net Prema, who also has cases of peddling against her in the past.
