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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Indian Navy carries out anti-ship firings; demonstrates readiness for long-range 'offensive' strikes
New Delhi, Apr 27 (PTI): The Indian Navy on Sunday said its warships have successfully carried out multiple anti-ship firings, revalidating their readiness for long-range precision "offensive" strikes.
The demonstration of the Navy's combat prowess came amid heightened tensions between India and Pakistan over the dastardly Pahalgam terror attack that killed 26 civilians.
Citing "cross-border linkages" to the horrific attack, India has already promised severe punishment to those involved in the strike that triggered wide-spread outrage within India and abroad.
"Indian Navy ships undertook successful multiple anti-ship firings to revalidate and demonstrate readiness of platforms, systems and crew for long range precision offensive strike," the Indian Navy said in a brief statement.
"Indian Navy stands combat ready, credible and future ready in safeguarding the nation's maritime interests anytime, anywhere, anyhow," it said.
The Indian Navy also released videos of the live firings at sea but did not provide details like when the exercise was carried out.
As the tensions between the two countries soared, Pakistani military continued to resort to unprovoked firing along the Line of Control in the areas opposite Tutmari Gali and Rampur Sectors Saturday night, military sources said.
The Pakistan military resorted to similar firings on Thursday and Friday nights as well.
"Our troops responded effectively with appropriate small arms fire," said an Indian official.
The Pahalgam massacre in Kashmir was the worst terror strike on civilians in India since the 26/11 Mumbai attack.
On Sunday, Prime Minister Narendra Modi said the "perpetrators and conspirators" of the Pahalgam attack will be "served with the harshest response".
"The whole world stands with 140 crore Indians in our fight against terrorism. I once again assure the affected families that they will get justice, and justice will be done," Modi said in his 'Mann ki Baat' address.
"The perpetrators and conspirators of this attack will be served with the harshest response," he said.
Pakistan military has been put on high alert following India's promise that it will hunt down the terrorists involved in Tuesday's strike.
In the backdrop of the escalating tensions, the Indian Navy's guided missile destroyer INS Surat fired a medium range surface-to-air missile against a "sea skimming" target in the Western Indian Ocean last week.
India announced a raft of punitive measures against Pakistan on Wednesday, including suspension of the Indus Waters Treaty, shutting down of the only operational land border crossing at Attari and downgrading of diplomatic ties in view of cross-border links to the attack.
In response, Pakistan on Thursday shut its airspace to Indian airliners and suspended all trade with India, including through third countries. Pakistan also rejected India's suspension of the Indus Waters Treaty and said any move to stop the flow of water will be seen as an "act of war".
#IndianNavy Ships undertook successful multiple anti-ship firings to revalidate and demonstrate readiness of platforms, systems and crew for long range precision offensive strike.#IndianNavy stands #CombatReady #Credible and #FutureReady in safeguarding the nation’s maritime… pic.twitter.com/NWwSITBzKK
— SpokespersonNavy (@indiannavy) April 27, 2025
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