Gold rallies Rs 458 to breach Rs 1.10 lakh mark; Hits all-time high
New Delhi (PTI): Gold prices jumped by Rs 458 to scale an all-time high of Rs 1,10,047 per 10 grams in the domestic futures market on Tuesday, tracking a rally in the global trend where the precious metal hit fresh peaks amid weakness in the US dollar following disappointing labour market data.
On the MCX, the yellow metal futures for December delivery appreciated Rs 458 or 0.41 per cent to hit a lifetime high of Rs 1,10,047 per 10 grams.
Also, the most traded gold futures for October delivery increased Rs 482 or 0.44 per cent to hit a record peak of Rs 1,09,000 per 10 grams on the Multi Commodity Exchange (MCX).
"Gold hit a fresh all-time high, supported by mounting expectations of Federal Reserve interest rate cuts through year-end. Weak US jobs report last Friday led markets to price in three rate cuts this year, including a 25 basis-point cut at the Fed's policy meeting next week," Jigar Trivedi, Senior Research Analyst at Reliance Securities, said.
In the overseas markets, Comex gold futures for December delivery rose to hit an all-time high of USD 3,694.75 per ounce.
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Road crash in UP leaves 10 dead
Lakhimpur Kheri (UP) (PTI): Ten people were killed when a van collided head-on with a truck on the Sisaiya-Lakhimpur national highway on Monday, police said.
The van was going to Sisaiya from Lakhimpur when the accident took place between Unchgaon and Bharehta villages.
Circle Officer of Dhaurahra, Shamsher Bahadur Singh, said all nine passengers travelling in the van and the driver were killed.
District Magistrate of Lakhimpur Kheri Anjani Kumar Singh told reporters that the van collided with a truck coming from the opposite direction, leading to nine casualties on the spot, while one succumbed to injuries at the district hospital.
Circle Officer, Dhaurahra, Shamsher Bahadur Singh told PTI, "Efforts are on to establish the identity of other deceased persons."
The seven of the deceased have been identified as Jaideep Singh (25), Pawan (23), Sohan (21), Ram Goyal (42), Sahajram (35), Pappu (18), all residents of Bahraich district and Adnan Khan (15), a resident of Lakhimpur Kheri district, police said.
Condoling the loss of lives in the accident, Uttar Pradesh Chief Minister Yogi Adityanath in a post on X, said, "The loss of life in the unfortunate road accident in Lakhimpur Kheri district is deeply distressing and heart-wrenching. My condolences are with the bereaved families."
"I have directed the local administration to provide prompt and adequate assistance to the injured and the victims. I pray to Lord Shri Ram to grant the departed souls a place at His divine feet and to bestow a speedy recovery upon the injured," Adityanath said on X.
Deputy Chief Minister Keshav Prasad Maurya and Brajesh Pathak too condoled the loss of lives in the accident.
"The loss of lives resulting from the road accident in Lakhimpur Kheri district is deeply tragic and heart-wrenching. My deepest condolences go out to the bereaved families," Maurya said.
