JD(S), BJP united against 4% Muslim quota: H D Kumaraswamy
Bengaluru: Union Cabinet Minister and JD(S) leader H D Kumaraswamy has dismissed reports suggesting a lack of coordination between the Janata Dal (Secular) and the BJP in opposing the Karnataka government's decision to provide a 4% reservation for Muslims in government tenders.
In a post on X, Kumaraswamy asserted that both parties are aligned in their stance and have strategised their opposition to the Congress government's decision. He revealed that a meeting of the NDA 'Coordination Committee' was held in Bengaluru before the legislative session, where a blueprint for the protest was formulated.
"The Congress government, solely for electoral gains and vote-bank politics, is ruining the reservation system, which is based on the ideal concept of 'social justice.' By turning reservation into a tool of appeasement, it is misleading the people of the state," Kumaraswamy wrote. He further stated that the JD(S) and BJP have jointly participated in various public struggles and will continue to do so.
His remarks come amid reports that the JD(S) has decided not to support the BJP's agitation against the Muslim quota. Party sources had earlier stated that JD(S) legislators were advised not to join the protest, citing former Prime Minister H D Deve Gowda’s role in introducing the 4% Muslim reservation. The party leadership had reportedly earlier clarified that while it would support the BJP on issues like price hikes and corruption, it would not compromise on its ideological position regarding reservations.
Meanwhile, Karnataka BJP leaders have vowed to intensify their protest against the quota. State BJP president B Y Vijayendra announced a statewide campaign to "educate Hindus about the injustice meted out to them by the Congress." Leader of the Opposition R Ashoka had earlier indicated that the party would continue its efforts to convince the JD(S) to participate in the agitation.
It is far from the truth that there is no coordination or agreement between @JanataDal_S and @BJP4Karnataka in the fight against the @INCKarnataka government's decision to provide 4% contract reservation for Muslims. Reports published in some newspapers and news channels are also…
— ಹೆಚ್.ಡಿ.ಕುಮಾರಸ್ವಾಮಿ | H.D.Kumaraswamy (@hd_kumaraswamy) March 24, 2025
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Gold declines Rs 1,700 to Rs 1.35 lakh/10g; snaps 4-day record rally
New Delhi (PTI): Snapping the four-day record rally, gold prices declined by Rs 1,700 to Rs 1,35,900 per 10 grams in the national capital on Tuesday as investors booked profits amid weak global cues, according to the All India Sarafa Association.
The precious metal of 99.9 per cent purity had surged by Rs 4,000 to touch an all-time high of Rs 1,37,600 per 10 grams on Monday. The metal rose by Rs 6,000 over the previous four days, trading at record highs.
"Gold prices witnessed profit booking and remained volatile, with the yellow metal slipping towards the USD 4,275 level in global markets and staying under pressure," Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities, said.
Echoing sentiments, Dilip Parmar, Research Analyst, HDFC Securities, said, "Domestic gold prices also softened, curtailing a four-day advance. These losses were, however, notably mitigated by the persistent weakness in the Indian Rupee which quoted at a record low level".
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In the local bullion markets, silver prices also depreciated by Rs 1,000 to Rs 1,98,500 per kilogram (inclusive of all taxes). The white metal had ended flat at Rs 1,99,500 per kg, also its all-time high level, as per the association.
Parmar added that physical jewellery demand is expected to be subdued commensurate with the onset of the inauspicious period, investment demand is forecast to remain robust, a tendency driven by prevailing risk-averse market sentiments.
In the international markets, spot gold snapped a five-day winning streak, declining by USD 27.80, or 0.65 per cent, to USD 4,277.42 per ounce.
"Gold prices experienced a modest decline, easing following five consecutive sessions of appreciation, as market participants strategically positioned themselves ahead of a critical suite of US economic data releases this week," Dilip Parmar said.
These incoming reports are poised to offer significant clarity regarding the Federal Reserve's predilection for implementing further interest-rate cuts, a key macroeconomic catalyst for the non-yielding asset, he added.
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Spot silver also dropped by USD 1.07, or 1.67 per cent, to USD 63.02 per ounce in the overseas markets.
Bullion prices are trading lower as caution prevails ahead of US nonfarm payroll (NFP) data to be released later in the day, which will show NFP figures of both October and November, Praveen Singh, Research Analyst, Mirae Asset ShareKhan, said.
