Gold sparkles on festive demand, rises by Rs 200
New Delhi, Oct 10 : Gold prices spurted by Rs 200 to Rs 31,850 per 10 grams on increased buying by jewellers and retailers at the bullion market Wednesday following beginning of auspicious week of 'Navratri'. A weak trend overseas, however, capped the gains.
Silver remained weak and traded RS 50 lower at Rs 39,200 per kg due to slackened demand from industrial units and coin makers.
Bullion traders said increased buying by local jewellers as well as retailers, driven by beginning of festive demand in domestic spot markets led to the rise in gold prices.
Globally, gold fell by 0.10 per cent to USD 1,188.90 an ounce and silver by 0.03 per cent to USD 14.45 an ounce in Singapore.
In the national capital, gold of 99.9 and 99.5 per cent purity surged by Rs 200 each to Rs 31,850 and Rs 31,700 per 10 grams, respectively. It had lost Rs 250 in the previous two days.
Sovereign gold, however, remained steady at Rs 24,600 per piece of eight grams on little doing.
On the other hand, silver ready fell by Rs 50 to trade at Rs 39,200 per kg, while weekly-based delivery declined Rs 85 to Rs 38,650 per kg.
Silver coins continued to be traded at previous level of Rs 73,000 for buying and Rs 74,000 for selling of 100 pieces.
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Sujit Nair raises concerns over speculation of DMK-AIADMK understanding to block TVK
Chennai: Journalist and political commentator Sujit Nair has expressed concern over speculation that the Dravida Munnetra Kazhagam and the All India Anna Dravida Munnetra Kazhagam could explore a post-poll understanding to prevent Vijay-led Tamilaga Vettri Kazhagam from forming the government in Tamil Nadu.
In a social media post, Sujit Nair said the election verdict in Tamil Nadu reflected a clear public demand for political change and argued that the mandate should be respected irrespective of political preferences.
Referring to reports and political discussions surrounding a possible understanding between the DMK and AIADMK, he said he hoped such developments remained only speculative conversations and did not turn into reality.
Nair stated that if such an alliance were to take shape, it would raise serious questions about ideological politics in the country. He said TVK had emerged through a democratic electoral process and that the legitimacy to govern in a parliamentary democracy comes from the people’s verdict.
According to him, attempts to prevent an electoral winner from forming the government through unexpected political arrangements may be constitutionally valid, but many people could view them as politically opportunistic.
He further said that such a move could particularly affect the political image of the DMK, which has historically projected itself around ideology, social justice and opposition politics. Nair said that in ideological terms, the DMK appeared closer to TVK than to the AIADMK, and joining hands with its long-time political rival only to remain in power could weaken its broader political narrative.
He added that the same questions would apply to the AIADMK as well, as the party had spent decades positioning itself against the DMK and such an arrangement could create discomfort among its cadre and supporters.
Drawing a comparison with Maharashtra politics in 2019, Nair said he had expressed similar views when the Shiv Sena formed an alliance with the Indian National Congress and the Nationalist Congress Party after the Assembly elections.
He said post-poll alliances between long-standing political rivals often create a public perception that ideology and electoral mandates become secondary when political power equations come into play.
Nair also said such developments increase public cynicism towards politics and reinforce the belief among voters that ideology is often sidelined after elections.
He maintained that the Tamil Nadu verdict was emphatic and said respecting both the spirit and substance of the mandate was important for the credibility of democratic politics.
