Gold prices slip below ₹1 lakh as hopes rise with Russia-Ukraine-US peace talks
New Delhi: Gold prices dropped below ₹1,00,000 in India on Wednesday due to the potential of trilateral peace negotiations between Russia, Ukraine, and the US, reducing demand for safe haven assets, reported NDTV Profit.
The India Bullion and Jewellers Association said that gold prices were ₹99,530 per 10 grams, down from ₹99,650 on Tuesday. Investors are keeping an eye on US Federal Reserve Chair Jerome Powell's speech for a possible worldwide rate drop.
Gold had touched a high of ₹1,02,090 on August 10, since the last six months. The lowest level was ₹87,100 on April 7. City-wise, gold prices also registered declines. The rate slipped to ₹99,180 per 10 grams (from ₹99,290) in Delhi, while in Mumbai it eased to ₹99,350 (from ₹99,460). Bengaluru quoted gold at ₹99,430 and Kolkata at ₹99,220. The highest price was in Chennai, at ₹99,640 per 10 grams.
On the international market, spot gold was trading at $3,313 an ounce, World Gold Council data showed. Futures for October 3, delivery were 0.70 per cent lower at ₹98,710 on the Multi Commodity Exchange (MCX).
Silver prices also moved lower, correcting 0.86 per cent to $37.98 an ounce in global trade. On MCX, silver futures closed 0.82 per cent lower at ₹1,13,943 per kilogram. As per the India Bullion Association, silver stood at ₹1,13,920 per kilogram, while September 5 futures were marginally higher at ₹1,11,358.
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MP: 12 labourers killed, 20 injured as pick-up van overturns and crashes into SUV
Dhar (MP) (PTI): Twelve labourers were killed and 20 others injured when the pick-up van carrying them overturned and collided with an SUV in Dhar district of Madhya Pradesh on Wednesday night, an official said.
The incident occurred at 8:30-9 PM. According to preliminary information, 35 labourers were returning home in a pickup van from Baggad in Dhar district when the driver lost control of the vehicle near Chikliya crossing. The vehicle overturned and collided with an SUV coming from the opposite direction.
"Twelve people died on the spot, while approximately 20 others were injured," said Dhar district's in-charge collector, Abhishek Choudhary.
The seriously injured persons were referred to Indore after initial treatment, he said.
Choudhary, DIG Mayank Awasthi, and police personnel rushed to the spot.
Tirla police have registered a case and are investigating the accident.
