Gold at nearly 6 year high of Rs 32,650 on festive demand
New Delhi, Oct 31: Gold prices rallied for the second consecutive session Wednesday, rising by Rs 30 to touch nearly six-year high of Rs 32,650 per 10 gram amid increased festive demand.
Silver, however, continued to remain weak and fell by Rs 40 to Rs 39,200 per kg due to tepid demand by industrial units.
Traders said sentiment remained positive on growing demand in the wake of upcoming festival of Diwali. Globally, gold stood at USD 1,217.84 an ounce in New York.
In the Delhi bullion market, gold of 99.99 and 99.5 per cent purity surged by Rs 30 each to Rs 32,650 and Rs 32,500 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. Sovereign gold, however, remained unchanged at Rs 24,900 per piece of eight gram. Last week on October 25, gold prices hit an over 6-year high of Rs 32,625 per 10 gram.
In contrast, silver ready prices Wednesday fell by Rs 40 to Rs 39,200 per kg, while silver weekly-based delivery rose marginally by Rs 5 to Rs 38,350 per kg.
Silver coins rates also increased to Rs 76,000 for buying and Rs 77,000 for selling of 100 pieces.
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Allahabad court restrains FIR order against Gandhi
Lucknow (PTI): The Lucknow bench of the Allahabad High Court has restrained its order directing an FIR against Congress MP Rahul Gandhi in connection with the alleged dual citizenship controversy.
The court will now hear the parties on whether prior notice to the accused was legally required.
A bench of Justice Subhash Vidyarthi, which had in Friday in an oral order observed that prima facie cognisable offences appeared to be made out against Gandhi, and permitted the Uttar Pradesh government to hand over the probe to a central agency, said it would first examine the legal position on issuance of notice before passing any direction.
The development came after the bench, before signing its dictated order, came across a full court verdict mandating that notice be issued to the proposed accused in such matters.
The court noted that none of the counsel brought this legal requirement to its attention in the earlier hearing.
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The bench has posted the matter for April 20.
The order was passed on a plea filed by Karnataka-based BJP worker S Vignesh Shishir.
During the Friday proceedings, Deputy Solicitor General of India S B Pandey produced records of the Centre relating to the citizenship controversy, while government advocate V K Singh submitted on behalf of the state that the allegations prima facie disclosed cognisable offences.
After a hearing, the bench observed that material on record indicated that Gandhi had allegedly committed cognisable offences and that the matter warranted investigation.
In his petition, Shishir alleged that Gandhi was a UK citizen and had incorporated a company, M/s Backops Ltd, in August 2003, declaring his nationality as British.
The petitioner claimed that Gandhi submitted the company's annual returns in October 2005 and October 2006 listing his nationality as British, and that the firm was dissolved in February 2009.
He sought registration of an FIR against the former Congress president under provisions of the Bharatiya Nyaya Sanhita, the Official Secrets Act, the Foreigners Act and the Passport Act.
The complaint was initially filed before a special MP/MLA court in Rae Bareli and was later transferred to Lucknow on the petitioner's request.
