Gold declines by Rs 1,200 to Rs 1.24 lakh/10g on weak global trends
New Delhi (PTI): Gold prices plunged by Rs 1,200 to Rs 1,24,100 per 10 grams in the national capital on Tuesday amid weak global cues after comments from several US Federal Reserve officials dampened expectations of another rate cut next month.
The precious metal of 99.5 per cent purity declined by Rs 1,200 to Rs 1,23,500 per 10 grams (inclusive of all taxes), extending its losses for the second straight session. It had settled at Rs 1,24,700 per 10 grams on Monday.
In the local bullion market, gold of 99.9 per cent purity had finished at Rs 1,25,300 per 10 grams in the previous market session.
"Gold fell on Tuesday, pressured by a strong US dollar and hawkish remarks from several Federal Reserve officials, who dismissed the possibility of another interest rate cut next month," Saumil Gandhi, Senior Analyst - Commodities at HDFC Securities, said.
Silver also fell sharply by Rs 2,500 to Rs 1,51,500 per kilogram (inclusive of all taxes) on Tuesday from the previous close of Rs 1,54,000 per kg on Monday.
The dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.12 per cent to 99.99, to a three-month high, which also put downward pressure on precious metals.
In the overseas markets, spot gold slipped by USD 7.84, or 0.2 per cent to USD 3,993.65 an ounce while silver was trading nearly 1 per cent lower at USD 47.73 per ounce.
Meanwhile, Fed Governor Lisa Cook, along with Mary Daly and Austan Goolsbee, highlighted labour market concerns but refrained from committing to another cut in December.
"Market attention now shifts to upcoming ADP employment and ISM PMI data, while easing safe-haven demand and China's withdrawal of gold tax incentives may weigh on sentiment," Kaynat Chainwala, AVP Commodity Research, Kotak Securities, said.
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No 'bacterial infection' found in bodies of 4 Mumbai family members who died after eating watermelon
Mumbai (PTI): The initial report submitted by the microbiology department of a Mumbai-based state-run hospital has said no "bacterial infection" was detected in the bodies of four family members, who died after consuming watermelon recently, officials said on Wednesday.
The Dokadia family, residents of Ghari Mohalla on Ismail Kurte Road, had hosted a get-together of relatives on the night of April 25. At around 1 am (on April 26), hours after the guests had left, Abdullah Dokadia (40), his wife Nasreen (35), and daughters Ayesha (16) and Zaineb (13) ate pieces of a watermelon.
They suffered severe bouts of vomiting and diarrhoea in the early hours of April 26 and were rushed to a local hospital before being referred to the government-run J J Hospital where all four died during treatment.
After the incident, Mumbai police, forensic experts and Food and Drug Administration (FDA) officials visited the house and had collected samples of every food item that constituted the family's last meal, including 'chicken pulav', watermelon, water, and other foodstuffs, and sent them to the Forensic Science Laboratory for analysis.
After the post-mortem of the deceased, their viscera was preserved for chemical analysis.
As the probe is underway, the microbiology department of the state-run J J Hospital has submitted its initial report to the police.
"As per the report, no bacterial infection has been detected so far in the bodies of the victims. No bacteria was found in their blood," the official said.
The exact cause of the death will be known once the forensic science lab submits its report, he said.
"The report will also clarify whether any food items consumed by the family members during the day contained anything poisonous," the official said.
