PM flags off Meerut Metro, Namo Bharat train
Meerut (UP) (PTI): Prime Minister Narendra Modi on Sunday flagged off the Meerut Metro and Namo Bharat train from the Shatabdi Nagar station here, giving a fillip to high-speed intercity travel and swift intra-city movement.
From there, the prime minister also undertook a metro ride till Meerut South station.
He is also going to inaugurate and dedicate to the nation various development projects worth around Rs 12,930 crore in Meerut.
Modi will also address the gathering on the occasion, a statement issued by the Prime Minister's Office.
The prime minister dedicated to the nation the entire 82 Km Delhi Meerut Namo Bharat corridor and inaugurated the remaining sections of India's first Namo Bharat Regional Rapid Transit System (RRTS), which include the 5 km section between Sarai Kale Khan and New Ashok Nagar in Delhi and the 21 km section between Meerut South and Modipuram in Uttar Pradesh.
With a design speed of 180 km per hour, Namo Bharat is India's first regional rapid transit system. It will connect major urban centres such as Sahibabad, Ghaziabad, Modinagar and Meerut with Delhi at a faster pace.
Sarai Kale Khan station, the originating station of the corridor, is one of the four Namo Bharat stations commissioned with this inauguration.
It is strategically located as a major multi-modal hub, seamlessly connecting Hazrat Nizamuddin railway station, Delhi Metro's pink line, Veer Haqeeqat Rai ISBT, and the ring road.
The other three Namo Bharat stations --- Shatabdi Nagar, Begumpul and Modipuram --- being commissioned are in Meerut.
The prime minister also inaugurated the Meerut Metro services between Meerut South and Modipuram, operating on the same infrastructure as Namo Bharat, in a first-of-its-kind initiative in the country.
The Meerut Metro will be India's fastest metro system with a maximum operational speed of around 120 kmph. The metro will cover the entire stretch in just 30 minutes, with all scheduled stoppages en route.
This seamless integration of Namo Bharat and Meerut Metro on the same infrastructure will ensure high-speed intercity travel and swift intra-city movement, setting a benchmark for integrated urban and regional transit in India.
It will decongest road traffic and consequently lead to a significant reduction in vehicular carbon dioxide emissions.
These projects will provide further impetus to the prime minister's vision of transforming urban mobility and ensuring seamless, efficient, modern and sustainable public transport systems that improve ease of living for citizens, the statement said.
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Silver, gold script sharp comeback as US-Iran ceasefire calms global jitter
New Delhi (PTI): Silver prices surged Rs 11,000 to Rs 2.51 lakh per kilogram in the national capital on Wednesday, while gold advanced to Rs 1.56 lakh per 10 grams amid strong global cues after the US and Iran agreed to a two-week ceasefire.
According to the All India Sarafa Association, the white metal zoomed by Rs 11,000, or nearly 5 per cent, to Rs 2,51,000 per kg (inclusive of all taxes) from Tuesday's closing level of Rs 2,40,000 per kg.
Gold of 99.9 per cent purity also appreciated by Rs 3,200, or 2.09 per cent, to Rs 1,56,400 per 10 grams (inclusive of all taxes). It settled at Rs 1,53,200 per 10 grams in the previous market session.
Analysts said bullion prices strengthened as geopolitical tensions in West Asia eased, triggering a broader relief rally across global financial markets.
Gold maintained strong gains and approached a three-week high on Wednesday as improved global risk sentiment, along with a pullback in US dollar and crude oil prices, boosted demand for precious metals, Saumil Gandhi, Senior Analyst of Commodities at HDFC Securities, said.
The positive momentum came after an agreement reached just before a self-imposed deadline by US President Donald Trump, who confirmed a pause in military action, conditional on the reopening of the Strait of Hormuz.
Iran also signalled that safe passage through the Strait would be possible during the ceasefire period, further easing supply concerns.
In the overseas markets, spot gold gained USD 97.48, or 2.07 per cent, to USD 4,803.33 per ounce, while silver was trading 6 per cent higher at USD 77.33 per ounce.
"Spot gold in the international markets surged on Wednesday after the announcement of a temporary ceasefire in the Iran war," Praveen Singh, Head of Commodities at Mirae Asset Sharekhan, said.
He added that commodities, bonds and equities rallied after crude oil prices crashed nearly 20 per cent on the ceasefire announcement, as a decline in energy rates will reduce interest rate hike chances by global central banks, including the US Federal Reserve.
Echoing similar sentiments, Kaynat Chainwala, AVP Commodity Research, Kotak Securities, said precious metal prices rose up to 7 per cent as the dollar slipped below 99 on US-Iran ceasefire relief, temporarily easing fears of prolonged energy supply shocks and the associated inflationary fallout.
The rally in bullion ran alongside a broader relief rally in global markets. Throughout the conflict, gold's traditional safe-haven appeal has been tempered by liquidity stress, as investors were compelled to liquidate bullion positions to cover losses elsewhere in their portfolios, she added.
"With the ceasefire conditional and compliance around the Strait of Hormuz still uncertain, any signs of a breach or collapse could quickly reverse sentiment and renew downside risk across precious metals," Chainwala said.
