IAF embarks on relief mission to tsunami-hit Indonesia
New Delhi, Oct 2 : The Indian Air Force (IAF) on Tuesday embarked on a humanitarian relief mission to help Indonesia that has been hit by an earthquake and tsunami in which more than 1,200 lives were lost.
IAF's C-130J and C-17 aircraft are taking part in the relief operation. The C-130J aircraft is carrying field hospital from Agra while the C-17 aircraft is carrying National Disaster Response Force (NDRF) load, including tents, generators and medicines, an official said.
"The C-130J carrying 37 medical personnel has taken off from Hindon air base for Chennai. From Chennai, the aircraft will take off for Kualanamu International Airport and then move to Palu, Indonesia," the official said.
The official said that the medical teams have been instructed to be self-contained for 10 days. Accordingly, they are carrying their rations, generators, fuel, tentage, etc.
In addition, light medical equipment including X-ray machines and medicines are being carried.
The C-17 was loaded at Palam with relief material received from National Disaster Management Authority (NDMA), including 15.66 tonnes of tentage and generators and 16 tonnes of medicines.
According to Indonesian authorities, the death toll on Tuesday rose to 1,234 in the 7.5-magnitude earthquake and subsequent tsunami that hit Sulawesi island last week.
The twin disasters have left the coastal city of Palu and the adjoining areas in ruins and with a shortage of food, water, and fuel.
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Gold, silver soar as US-Iran deal hopes lift bullion demand
New Delhi (PTI): Gold prices rebounded by Rs 2,900 to Rs 1.55 lakh per 10 grams in the national capital on Wednesday, while silver climbed to Rs 2.54 lakh per kilogram as easing geopolitical tensions triggered a pullback in oil rates, boosting demand for precious metals.
According to the All India Sarafa Association, the yellow metal of 99.9 per cent purity jumped by Rs 2,900, or nearly 2 per cent, to Rs 1,55,400 per 10 grams (inclusive of all taxes) from Tuesday's closing level of Rs 1,52,500 per 10 grams.
Traders attributed the surge in bullion prices to reports that Washington and Tehran are close to finalising a framework agreement to end months of conflict, raising the prospects of smoother flows through the Strait of Hormuz and easing inflation concerns tied to energy markets.
"Gold rallied strongly on Wednesday as easing geopolitical tensions triggered a sharp reversal in key macro drivers that had recently pressured precious metals," Saumil Gandhi, Senior Analyst - Commodities at HDFC Securities, said.
Silver prices also advanced for the third straight session by rising Rs 3,500, or 1.4 per cent, to Rs 2,54,500 per kg (inclusive of all taxes). The metal had settled at Rs 2,51,000 per kg in the previous session, as per the Association.
"The prospect of a diplomatic breakthrough triggered a steep decline in oil prices and the US dollar, easing concerns about inflation while boosting demand for precious metals," Gandhi said.
Globally, spot gold increased by USD 106.15, or 2.33 per cent, to USD 4,663.70 per ounce while silver gained USD 3.40, or 4.68 per cent, to USD 76.24 per ounce.
"Gold witnessed a sharp rally as markets reacted positively to reports that the US and Iran are moving closer to a one-page agreement framework aimed at ending the conflict," Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities, said.
Despite strong international gains, rupee strength limited the upside in domestic gold prices. The market is now highly focused on final confirmation and execution of the proposed deal, he added.
Any negative surprise or breakdown in negotiations could trigger a sharp sell-off in gold, while a successful agreement and sustained ceasefire could push the bullion prices higher in the near-term, Trivedi said.
