50 killed as 7.5-quake leads to tsunami in Indonesia
Jakarta, Sep 29 : At least 50 people have been confirmed dead by officials on Saturday after a strong tsunami triggered by a 7.5-magnitude earthquake hit a coastal Indonesian city on Friday.
Over 350 others were injured, a disaster agency official said on Saturday after three shallow quakes of 6.0, 7.4 and 6.1-magnitude struck off the central province and triggered the tsunami near Talisa beach of Dongala district.
Waves up to 2 metre high swept through Palu on Sulawesi island. Video on social media showed people screaming and fleeing in panic and a mosque amongst the buildings damaged, the BBC reported.
All victims have been rushed to hospitals, spokesman of the national disaster management agency Sutopo Purwo Nugroho said.
The casualties were only counted in Palu, and the victims in Donggala district, including the coastal areas near Talisa beach, were not included in the figure, Nugroho told Xinhua news agency.
"Accordingly, the death toll and injuries as well as the damage will likely climb," he said. Most victims were hit by debris and falling blocks of concretes.
The tsunami triggered by the quake devastated buildings and residential areas in the coastal areas. Specific damage was still unknown as the risk assessment was underway, the meteorology and geophysics agency said.
Soldiers, police, disaster management agency personnel and volunteers were evacuating the quake and tsunami victims. Power outage has cut off communications hampering relief efforts, Nugroho said.
"We have not received comprehensive reports yet because communications are cut. Many bodies were found along the shoreline because of the tsunami, but the numbers are still unknown," Nugroho told the media.
It was not clear whether the deaths came in the quake or the resulting tsunami.
Palu is home to more than 300,000 people. Rescue operations have started but a minister said that communications had been disrupted and that the runway in the city was damaged, although it was hoped that helicopters would still be able to land.
The Jakarta Post reported that Hercules aircraft was deployed to provide disaster relief in Palu.
The earthquake hit around 6 p.m. on Friday. A tsunami warning was issued, but lifted within the hour. Dramatic video of the tsunami hitting Palu showed high waves sweeping away several buildings and then the large tilted mosque in the town, about 80 km from the quake's epicentre.
"The situation is chaotic, people are running on the streets and buildings collapsed. There is a ship washed ashore," said Dwikorita Karnawati, head of Indonesia's meteorology and geophysics agency.
In August, a series of deadly quakes struck the Indonesian island of Lombok, with the biggest, on August 5, killing more than 460.
A 2004 tsunami triggered by an earthquake off the Indonesian island of Sumatra killed 226,000 across the Indian Ocean, including more than 120,000 in Indonesia.
Indonesia is prone to earthquakes because it lies on the Ring of Fire -- the line of frequent quakes and volcanic eruptions that circles virtually the entire Pacific rim.
More than half of the world's active volcanoes above sea level are part of the ring.
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Gold declines Rs 1,100 to Rs 1.64 lakh/10g; silver slips to Rs 2.71 lakh/kg
New Delhi (PTI): Gold prices declined Rs 1,100 to Rs 1.64 lakh per 10 grams in the national capital on Friday as traders booked profits at elevated levels for the second straight session, while silver also slipped to Rs 2.71 lakh per kilogram.
According to the All India Sarafa Association, the yellow metal of 99.9 per cent purity depreciated Rs 1,100, or nearly 1 per cent, to Rs 1,64,100 per 10 grams (inclusive of all taxes).
Silver also fell Rs 600 to Rs 2,71,700 per kg (inclusive of all taxes) in the bullion market.
Analysts said traders locked in gains after the recent sharp rally in precious metal prices, even as global trends remained mixed.
"After opening with a gap up earlier in the week, both gold and silver gradually declined this week as a stronger US dollar and rising Treasury yields, along with reduced expectations for interest rate cuts by Federal Reserve, outweighed safe-haven demand stemming from the escalating Middle East conflict," Saumil Gandhi, Senior Analyst - Commodities at HDFC Securities, said.
He added that investors continued to exit gold-backed exchange traded funds (ETFs) this week, indicating softer investment demand.
"ETFs reduced their gold holdings by 93,479 troy ounces in the latest session, marking the fourth consecutive day of outflows -- the longest losing streak since February 6," Gandhi said.
However, in the international markets, bullion prices were trading higher on renewed safe-haven demand, with spot gold gaining USD 14.70, or 0.29 per cent, to USD 5,095.81 per ounce, while silver increasing 1.4 per cent to USD 83.40 per ounce.
Traders said escalating tensions in the Middle East continued to support precious metals, though profit-booking limited gains in the domestic markets.
"Gold and silver prices experienced notable fluctuations on Friday, driven primarily by ongoing geopolitical tensions in the Middle East and robust safe-haven buying," Gaurav Garg, Research Analyst at Lemonn Markets Desk, said.
These precious metals are gaining traction as investors seek refuge amid market volatility and rising crude oil prices, which surged to over USD 80 per barrel following the closure of Strait of Hormuz, a key global shipping route, raising concerns about supply disruptions.
"The US stock market reacted negatively, with major indices like the Dow Jones and S&P 500 witnessing significant declines, further fuelling interest in gold and silver," Garg added.
Jateen Trivedi, VP Research Analyst, Commodity and Currency, LKP Securities, said investors are closely monitoring crucial macroeconomic indicators, including the unemployment rate and non-farm payrolls numbers scheduled to be released later in the day.
