Gold hits over 6-year high of Rs 32,625 on festive buzz, global cues
New Delhi, Oct 25 : Gold prices rose by another Rs 125 to trade at over six-year high of Rs 32,625 per 10 gram Thursday, buoyed by pick-up in festive and wedding season demand by local jewellers amid firm global trends and weakening rupee.
Silver, however, remained weak and fell by Rs 130 to Rs 39,600 per kg due to slackened demand from industrial units.
Bullion traders said sentiments also got a boost on firming trend in overseas where gold traded at over three-month high as the dollar eased and equities slumped. Besides, weakness in the local currency also added to investor sentiments.
Globally, gold was trading at USD 1,234.20 an ounce in Singapore Thursday.
Besides, a pick-up in buying by local jewellers to meet seasonal demand at domestic spot markets and diversion of funds from falling equity markets also supported the uptrend, they said.
In the national capital gold of 99.99 and 99.5 per cent purity rallied by Rs 125 each to Rs 32,625 and Rs 32,475 per 10 gram, respectively. This is the highest level since November 29, 2012 when the precious metal had closed at Rs 32,940 per ten gram.
This is the third straight session of gain for the yellow metal which has gained Rs 405 since October 23.
Sovereign gold, however, traded steady at Rs 24,800 per piece of eight gram.
On the other hand, silver ready extended its weakness by prices falling by another Rs 130 to Rs 39,600 per kg. Silver coins, however, remained unaltered at Rs 76,000 for buying and Rs 77,000 for selling of 100 pieces.
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Will vacate one of two assembly seats won in 10 days: BJP''s Suvendu
Kolkata (PTI): BJP leader Suvendu Adhikari, who defeated West Bengal Chief Minister Mamata Banerjee in Bhabanipur and secured Nandigram for three times in a row in the recent assembly polls, said on Wednesday that he would vacate one of the two constituencies within 10 days.
Adhikari also asserted that the party's central leadership would decide which constituency he would retain.
"I will vacate one seat within 10 days. The party will decide which one I retain. I will not forget my responsibility towards the people of Bhabanipur and Nandigram," he said.
Adhikari on Monday defeated Banerjee in Bhabanipur by over 15,000 votes, puncturing what was long seen as her safest political refuge and delivering a decisive psychological blow to the TMC, amid a sweeping BJP surge across West Bengal.
Addressing party workers and supporters in Nandigram in Purba Medinipur district, the BJP leader appealed to them not to take out victory processions immediately and instead maintain peace.
"Do not take out victory rallies now. Maintain peace and discipline. Celebrate after May 9, after taking permission," he told party workers.
State BJP president Samik Bhattacharya on Wednesday announced that the oath-taking ceremony of the new government will be held on May 9 at Brigade Parade Ground.
Referring to alleged attacks on BJP workers during the TMC regime, Adhikari said he would not forget the “atrocities" faced by them and assured them of taking appropriate action against perpetrators through legal processes.
"I was part of the 2011 ‘poribartan’ (change), and now I am part of the real change. I offer my gratitude to the people of Nandigram," Adhikari said.
He was referring to the TMC's victory in 2011 when the Mamata Banerjee party dismantled the 34-year Left Front regime in the state.
Adhikari offered prayers at a Hanuman statue in Nandigram and remembered the BJP workers, who had died in political violence.
"We will work in such a way that the BJP government in Bengal stays for 100 years," he said, expressing hope that the BJP’s vote share in the state would rise from the current 46 per cent to 60 per cent in future elections.
The BJP leader also assured residents of Nandigram of improved drinking water supply and better hospital and education infrastructure.
