Gold crosses Rs 33,000-mark, silver firms up
New Delhi: Gold prices surged by Rs 425 to Rs 33,215 per 10 gram in the national capital Monday due to increased buying by jewellers amid firm trend overseas, according to the All India Sarafa Association.
Silver too rose by Rs 170 to Rs 38,670 per kg on increased offtake by industrial units and coin makers.
Traders said, positive trend overseas and rise in demand from local jewellers led to upward movement in the prices of yellow metal.
In the international market, spot gold was trading higher at USD 1,298.30 an ounce, while silver moved upward to USD 15.23 an ounce in New York.
In the national capital, gold of 99.9 per cent and 99.5 per cent purity rose by Rs 425 to Rs 33,215 and Rs 33,045 per 10 gram, respectively.
On Saturday, the yellow metal had closed at Rs 32,790 per 10 gram.
However, sovereign gold held steady at Rs 26,400 per eight gram.
Silver ready advanced by Rs 170 to Rs 38,670 per kg, while weekly-based delivery gained Rs 594 to Rs 37,753 per kg.
On the other hand, silver coins held flat at Rs 80,000 for buying and Rs 81,000 for selling of 100 pieces.
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UK PM Keir Starmer takes ‘China matters’ message on first Beijing visit
London (PTI): “Like it or not, China matters to the UK,” is the message British Prime Minister Keir Starmer is taking on his visit to Beijing on Wednesday, accompanied by a 60-strong business and cultural delegation.
Downing Street said the visit, which will also cover Shanghai, reflects the UK’s “clear-eyed and realistic” approach to China in terms of opportunities and challenges they pose by continuing to pursue cooperation while “maintaining guardrails” when it comes to the country’s national security.
The Labour Party government is keen to highlight its re-engagement with China with this first visit in eight years, coming close on the heels of a ministerial go-ahead for its controversial new “mega embassy” in London.
“For years, our approach to China has been dogged by inconsistency – blowing hot and cold, from Golden Age to Ice Age. But like it or not, China matters for the UK,” Starmer said in a pre-visit statement.
“As one of the world’s biggest economic players, a strategic and consistent relationship with them is firmly in our national interest. That does not mean turning a blind eye to the challenges they pose – but engaging even where we disagree.
“This is what our allies do, and what I will do: delivering for the public, putting more money in their pockets and keeping them safe through pragmatic, consistent cooperation abroad,” he said.
The UK PM is set to meet President Xi Jinping and Premier Li Qiang in Beijing on Thursday for talks on trade, investment and national security, before travelling to Shanghai for a range of engagements with British and Chinese businesses.
Accompanied by a delegation of leading UK-based businesses, including Tata Motors owned Jaguar Land Rover, sporting institutions, museums and theatre groups, Starmer is expected to push for access in areas such as the financial services sector, creative industries and life sciences.
“However, he will be clear that we will not trade economic cooperation for our national security. He will raise the areas where we disagree with China – being clear that we will always defend our national security and where viewpoints differ, frank and open dialogue is of vital importance,” Downing Street said.
Describing China as the world’s second largest economy, a crucial player in global supply chains and a growing military power, the UK said it is important to engage with its third-largest trading partner which supports 3,70,000 British jobs.
“We want to see trade flourish between us. From financial services to advanced manufacturing and the global energy transition, the UK’s strengths increasingly align with the rapidly evolving Chinese economy,” said Peter Kyle, the Business and Trade Secretary travelling with Starmer.
“The first duty of government is security, and we protect ourselves best through active engagement and pragmatic cooperation, not by shutting the door,” he said.
The visit follows the 2025 Economic and Financial Dialogue (EFD) that the UK’s Department for Business and Trade (DBT) claimed secured 600 million pounds in immediate benefits and the first UK-China Joint Economic and Trade Commission (JETCO) since 2018.
“The UK’s world-leading financial services sector is a cornerstone of our economy. With deep and liquid markets, and the FTSE hitting all-time highs, there are real opportunities for mutually beneficial cooperation with China which supports jobs for working people and growth for businesses across Britain,” said Lucy Rigby, Economic Secretary to the Treasury, also part of the ministerial delegation.
The Opposition Conservatives have criticised Starmer’s approach to China, amid human rights concerns and espionage fears. “Starmer has already surrendered to the Chinese Communist Party over their plan for a spy-hub super embassy in the heart of our capital,” said shadow foreign secretary Priti Patel.
“The evidence is overwhelming that China poses a serious threat to our national security and it is clear Starmer is going to China without any leverage. He lacks the backbone to stand up for Britain and is bending over backwards to appease Beijing,” she said.
Following his trip to China, Starmer is set to travel to Tokyo to meet with Japanese Prime Minister Sanae Takaichi to reinforce the UK-Japan partnership, said to be worth over 100 billion pounds and supporting 2,00,000 UK jobs.
