Rahul Gandhi slams Modi for "betraying" people
Wardha (Maharashtra), Oct 2 : Congress President Rahul Gandhi on Tuesday accused Prime Minister Narendra Modi of "betraying the people by making false promises" ahead of the 2014 general elections.
Addressing the 'Gandhi Sankalp Rally' after a Congress Working Committee meeting here, he attacked Modi on a range of issues, including the Rafale deal, rising fuel prices, unemployment and farm distress.
"You trusted Modiji for four years. He promised you that there will be no 'Made in China', but only 'Make in India'. But you see, everything from phones to your shoes is 'Made in China'.
"Modi made a false promise to you. He cannot give you employment. But we will work 24 hours a day to give you employment. We will waive your loans too. We have done it in 2009; we can do it again," the Congress chief said as he urged people to repose trust in the Congress that followed Mahatma Gandhi's ideology.
Gandhi accused the Prime Minister of striking a shady deal for the purchase of Rafale fighter jets only to benefit what he called Modi's "bankrupt" crony. An inexperienced company had been chosen ignoring the state-run Hindustan Aeronautics Limited (HAL).
He sought to know from the Prime Minister the reason behind choosing a new company in the defence deal.
Attacking the government over rising fuel prices, Rahul Gandhi said: "The money paid by you (people) is going into the pockets of only a few richest people in India. This is the reality of India. The Congress is a party of the farmers, the weak and the small traders."
He also accused Modi of helping his cronies convert their black money into white following the November 2016 demonetisation.
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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.
