Seven, including 4 women arrested for kidnapping, selling children; 3 babies rescued
Hyderabad: Seven members of a gang allegedly involved in kidnapping of children and selling them were arrested and three babies including a month-old girl were rescued from the buyers, police said Wednesday.
Prime accused V Gangadhar Reddy along with six others, including four women, were nabbed from different parts of Andhra Pradesh by special teams of Hyderabad Police and based on their information three babies were rescued, they said.
Apart from the infant girl, the two children were boys between two and two-and-a-half-years-old, police said.
The accused kidnapped the three babies from different parts of Hyderabad and Guntur district in Andhra Pradesh between October 2018 and March this year and the babies were sold in the range of Rs 2.5 lakh to Rs 3.10 lakh, police said.
According to Chandrayangutta Police Station Inspector G Koteshwar Rao, the accused were kidnapping the minor children and selling them to needy childless couples.
The hunt is on to nab the other absconding accused, police said. The rescued babies were being handed over to their family members, they added.
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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.
