Gold declines Rs 1,700 to Rs 1.35 lakh/10g; snaps 4-day record rally
New Delhi (PTI): Snapping the four-day record rally, gold prices declined by Rs 1,700 to Rs 1,35,900 per 10 grams in the national capital on Tuesday as investors booked profits amid weak global cues, according to the All India Sarafa Association.
The precious metal of 99.9 per cent purity had surged by Rs 4,000 to touch an all-time high of Rs 1,37,600 per 10 grams on Monday. The metal rose by Rs 6,000 over the previous four days, trading at record highs.
"Gold prices witnessed profit booking and remained volatile, with the yellow metal slipping towards the USD 4,275 level in global markets and staying under pressure," Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities, said.
Echoing sentiments, Dilip Parmar, Research Analyst, HDFC Securities, said, "Domestic gold prices also softened, curtailing a four-day advance. These losses were, however, notably mitigated by the persistent weakness in the Indian Rupee which quoted at a record low level".
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In the local bullion markets, silver prices also depreciated by Rs 1,000 to Rs 1,98,500 per kilogram (inclusive of all taxes). The white metal had ended flat at Rs 1,99,500 per kg, also its all-time high level, as per the association.
Parmar added that physical jewellery demand is expected to be subdued commensurate with the onset of the inauspicious period, investment demand is forecast to remain robust, a tendency driven by prevailing risk-averse market sentiments.
In the international markets, spot gold snapped a five-day winning streak, declining by USD 27.80, or 0.65 per cent, to USD 4,277.42 per ounce.
"Gold prices experienced a modest decline, easing following five consecutive sessions of appreciation, as market participants strategically positioned themselves ahead of a critical suite of US economic data releases this week," Dilip Parmar said.
These incoming reports are poised to offer significant clarity regarding the Federal Reserve's predilection for implementing further interest-rate cuts, a key macroeconomic catalyst for the non-yielding asset, he added.
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Spot silver also dropped by USD 1.07, or 1.67 per cent, to USD 63.02 per ounce in the overseas markets.
Bullion prices are trading lower as caution prevails ahead of US nonfarm payroll (NFP) data to be released later in the day, which will show NFP figures of both October and November, Praveen Singh, Research Analyst, Mirae Asset ShareKhan, said.
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''NDA''s betrayal includes strangling MSMEs'' amid West Asia crisis, alleges Stalin at poll rally
Erode (Tamil Nadu) (PTI): DMK President, Chief Minister M K Stalin, on Thursday, alleged that the NDA's betrayals include 'strangling' the MSMEs during the ongoing West Asia crisis.
Addressing an election rally here, Stalin alleged AIADMK chief Edappadi K Palaniswami had no achievements to claim for his government during 2017-21; neither does PM Modi, who comes on "election tours" to Tamil Nadu.
Ridiculing the slow pace of work to build Madurai AIIMS, as that project was announced by the Centre about a decade ago, the CM said: "If they think they can claim an achievement, let them look at the Madurai AIIMS, being built brick by brick, one brick after the other. That is an achievement." Other than the "achievement" of building AIIMS for about 10 years, they had nothing to boast about at all, he sarcastically said.
"We have a list of their betrayals (of NDA). Shall I list them?" Stalin asked, and alleged that the denial to scrap NEET and declining of new Metro rail projects were betrayals. "Abolishing" MGNREGA, amending the Citizenship Act, and the enactment of 3-farm laws --which were later scrapped-- were also "betrayals," he said.
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He also listed other alleged "betrayals" of "failure to protect weavers" from US tariffs and crippling micro, small, and medium enterprises due to the West Asian war.
The Dravidian party chief, however, did not elaborate on either the weavers vis-à-vis the US tariff issue or the matter involving MSMEs.
Furthermore, the DMK chief slammed the "betrayal" of withholding education funds due to children in order to impose Hindi, not providing GST compensation and snatching away state rights.
Hence, Palaniswami and his party's ally BJP, are the very embodiment of "betrayals" and the NDA allies "stand in the dock" before the people of Tamil Nadu, having committed "betrayal after betrayal," Stalin claimed.
Hitting out at AIADMK chief for targeting the DMK regime over women's safety, at his Sivaganga rally on April 1, 2026, Stalin listed a slew of ongoing welfare schemes for the benefit of women, including fare-free bus and Rights payout of Rs 1,000 per month.
He said that law and order maintenance was good in Tamil Nadu, and women go for work boldly as they are safe, while industries troop to Tamil Nadu with investment. The efficiency of a government is measured by how swiftly action is taken, and criminals are punished when a crime occurs. From that perspective, it is under the Dravidian model government that charge sheets have been filed within 60 days in over 86 per cent of cases, the chief minister asserted.
The CM said: "This growth of Tamil Nadu irritates Palaniswami, the branch secretary of the BJP. Out of jealousy, he is spreading lies and rumours as the DMK does not allow him to win even one election."
He asked if Palaniswami had any locus standi to speak about women's safety and listed crimes against women reported during the AIADMK regime, including the sensational Pollachi sexual assault case and the sufferings of the victims.
"Did that outcry of Pollachi victims not shake Palaniswami's conscience? What kind of dramas did Palaniswami stage in the Pollachi case? First, he delayed filing the case... then, they let the accused escape. They publicly revealed the names of the victimised women and issued threats. However, it is the Dravidian model of governance that handled that case properly, secured life sentences for the criminals, and obtained a compensation of Rs 85 lakh for the victims," Stalin said.
The CM also listed cases, including one in which a woman police SP was the victim at the hands of a higher police official and the manner in which the conviction was secured. In fact, the CM said there was a long history of crimes against women during successive AIADMK regimes and the mega list includes the burning of three girl students in a bus in Dharmapuri and the acid attack on a woman IAS officer. It was the DMK regime that enacted laws/ amendments to ensure upto death penalty for crimes against women.
"Women's safety was a question mark under Palaniswami's rule. It is the Dravidian model government that protects women, enables them to go to colleges and workplaces with dignity, and stands as a true friend. Thinking that all these facts can be hidden by spreading fake news and slander, Palaniswami is now wandering in a fantasy castle, dreaming of bringing the BJP's NDA government to TN and plundering the state," the DMK chief alleged.
"While the DMK-led alliance was firmly bonded by ideology, the NDA was not so," Stalin said. He also alleged that in 2016, Amit Shah had termed the AIADMK cabinet as full of corrupt leaders.
The same corrupt group now stands with Amit Shah, the CM alleged.
Beginning with Palaniswami, who allegedly awarded tenders to a relative --Sambandhi-- about a dozen AIADMK ministers were involved in alleged scams like illegal sale of gutka and irregularities in award of tenders for local bodies, Stalin claimed.
Without directly naming NDA partners, AMMK chief TTV Dhinakaran (for an alleged bribe several years ago to influence the Election Commission) and PMK leader Anbumani Ramadoss (alleged irregularities involving medical college admissions), Stalin said such people, "who should be in the dock, have come together to deceive the people". He ridiculed NDA's double engine mantra, termed it as 'dabba engine' and asserted that NDA will be routed in the Assembly polls.
