Silver jumps Rs 18,000 to Rs 2.6 lakh/kg; gold scales Rs 1.58 lakh/10g level
New Delhi (PTI): Precious metal prices jumped over 7 per cent in the national capital on Thursday, with silver rising to Rs 2.6 lakh per kilogram, while gold advancing to Rs 1.58 lakh per 10 grams, tracking firm global trends and a surge in safe-haven assets amid escalating tensions between the US and Iran.
According to the local marketmen, the white metal surged by Rs 18,000, or 7.32 per cent, to Rs 2,64,000 per kg (inclusive of all taxes) from Wednesday's closing level of Rs 2,46,000 per kg.
Gold of 99.9 per cent purity also advanced by Rs 1,950, or 1.24 per cent, to Rs 1,58,650 per 10 grams (inclusive of all taxes). It had settled at Rs 1,56,700 per 10 grams in the previous session.
In the international market, spot silver was trading 1.03 per cent higher at USD 77.97 per ounce, while gold was quoted marginally higher at USD 4,991.24 per ounce.
"Gold prices rose to around USD 5,000 per ounce on Thursday, supported by a renewed wave of safe-haven demand amid rising speculation over potential US military action against Iran, which has elevated geopolitical risk," Saumil Gandhi, Senior Analyst - Commodities at HDFC Securities, said.
He added that the collapse of renewed Russia-Ukraine negotiations has also revived global uncertainty, prompting investors to increase allocations toward safe-haven assets.
"With geopolitical flashpoints intensifying, capital is rotating out of risk-sensitive assets and into traditional safe-haven assets, providing sustained support to gold prices," Gandhi said.
Renisha Chainani, Head - Research at Augmont, said investors are awaiting key macroeconomic data, including US GDP and Personal Consumption Expenditures (PCE) inflation data, which could shape interest rate expectations by the Federal Reserve in the coming months.
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Karnataka School Edu Dept prohibits children from being made to dance to obscene songs
Bengaluru (PTI): The Karnataka School Education Department has issued a circular strictly prohibiting children from being made to dance to obscene songs in educational and cultural programmes.
It stated that such dances would negatively impact students' mental health and moral values. It will create indiscipline and harm the sanctity of education.
"All the Deputy Directors (Administration) of the state's School Education Department have been asked to take strict measures to prevent children or students from dancing to obscene songs in all government, aided and unaided schools in the state," the office of the commissioner of the School Education Department said in a recent circular.
"If it is found that children are being made to dance to obscene songs, appropriate action will be taken against the headmaster or management of such school," it added.
The department also listed certain measures in this regard, which include: strictly prohibiting children from being made to dance to obscene songs during educational and cultural programmes; selecting songs that are inspiring, positive, instilling national pride in children and reflecting the greatness, dignity, values, culture, and morality of the state.
Stating that the school headmaster and management are responsible for selecting songs and dances for cultural programmes, it said, they should also ensure that students wear decent clothes in dance or cultural programmes.
