We've reached moon, but people are still restricted from entering temples: CM Siddaramaiah
Karnataka CM reacts to caste-based honor killing in state
Bengaluru: Karnataka's Chief Minister Siddaramaiah, has expressed deep concern over the recent incidents of honor killings within the state. He announced that the government would launch investigations into these incidents and take decisive legal action.
In a statement shared on his official X account on Tuesday, Siddaramaiah addressed the two disturbing cases of honor killing that have occurred across the state in recent weeks. He emphasized that these incidents highlight the troubling extent to which society has regressed in terms of caste-based norms and social regulations.
"The occurrences of honor killings underscore the need for spreading awareness about the deep-rooted caste system that perpetuates such acts. Societal reform is necessary to challenge and eliminate these harmful practices," remarked the Chief Minister.
Siddaramaiah lamented the persistence of caste-related restrictions, comparing them to the monumental achievement of humanity landing on the moon while backward caste individuals still face restrictions in accessing temples. He highlighted the imperative for a more humane and rational approach to overcome caste-based prejudices.
He stressed the significance of advocating for societal change and rekindling the teachings of historical social reformers. The Chief Minister affirmed the government's commitment to progress by initiating programs geared toward the welfare and upliftment of society, echoing the values championed by these reformers.
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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.
