MP Assembly polls: Congress likely to repeat 42 MLAs
Bhopal, Oct 20: While the ruling BJP is thinking of not giving tickets to 70-80 of its sitting MLAs for the forthcoming Assembly polls in Madhya Pradesh, the opposition Congress is almost ready to renominate 42 out of its 57 legislators.
MP goes to polls on November 28 and counting of votes will be taken up on December 11. The state has a 230-member House.
A Congress leader, on condition of anonymity, told PTI Saturday that the work of these 42 MLAs who are likely to renominated was found to be satisfactory.
"In fact MP Congress chief Kamal Nath is not in favour of dropping sitting MLAs without a valid reason from the first nomination list of 71 candidates which is going to come out shortly," he said.
He said that a final list of candidates had been prepared and has been submitted to Congress chief Rahul Gandhi who will take a call on it.
"There is a strong anti-incumbency wave in MP and we are going to return to power after 15 years," he said.
A senior MP BJP leader had Friday told PTI that the party was thinking of not repeating 70-80 out of 165 MLAs in order to tide over anti-incumbency.
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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.
