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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RSS needs to increase activism on social media as work expands: Bhagwat
Nagpur (PTI): Social media is widely used, and there is a need for the Rashtriya Swayamsevak Sangh to increase “activism” on such platforms for a good cause, said RSS chief Mohan Bhagwat on Thursday.
He was speaking at the centenary event of the Marathi newspaper Tarun Bharat in Nagpur.
The RSS chief said that while social media is used extensively by people, it should be utilised for a good cause.
“Memes and reels are already in circulation. Some content is being disseminated through the RSS’ communication department, and our volunteers are also using social media. This will gain acceptance. I won’t call it an expectation, but we will have to increase our activism there,” he said.
Bringing people together and transforming society were both necessary and mutually reinforcing, he said.
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When a committed volunteer is developed, they take up constructive work, which spreads through society and contributes to desired change, said the RSS chief.
Bhagwat said the RSS’s work was expanding and required decentralisation.
As public expectations had grown, there was increasing demand for volunteers across sectors, making smaller units necessary for better efficiency, according to the RSS chief.
He said that the organisation’s expanding work also required periodic interaction with the government and administration, for which a separate coordination mechanism was being created.
A “pradesh-level” unit was being set up to handle such coordination and address hurdles, he added.
