"gold"

Global demand for precious metals has surged significantly in 2024. Central banks around the world, including those in emerging markets, have maintained their status as net buyers of gold for over a decade. This year alone, they collectively acquired over 500 tonnes of gold, highlighting their efforts to diversify reserves in response to ongoing economic uncertainties, according to the report.

Twelve persons were on Sunday arrested for allegedly decamping with golden ornaments weighing 44 tolas and liquid cash Rs 15 lakh from a doctor's house in the town on November 30. Police seized 35 tolas of gold and the cash Rs 15.50 lakh were recovered from them.

He pointed out that farmers have been unable to sell their paddy at procurement centers, despite bringing their produce there two months ago. He also questioned the state government's failure to manage the procurement process, especially when the union government fully funds paddy procurement and provides a minimum support price (MSP) of Rs. 2,320 per quintal.

The India Bullion and Jewellers Association Ltd (IBJA) reports that 24-carat gold is priced at Rs 76,570 per 10 grams, 22-carat at Rs 74,720, 20-carat at Rs 68,130, and 18-carat at Rs 62,201 per 10 grams.

On Thursday, the precious metal with 99.9% purity remained steady at its all-time high of Rs 82,400 per 10 grams. Meanwhile, silver faced selling pressure, falling below the Rs 95,000 mark with a decline of Rs 4,600, bringing its price down to Rs 94,900 per kg, down from Rs 99,500 per kg at the previous close.

Silver has recently delivered strong performance, rising over 40% year-to-date and surpassing ₹100,000 domestically, driven by safe-haven buying and solid industrial demand, according to a report by Motilal Oswal Financial Services Ltd (MOFSL).

The Moneyview survey revealed that over 85% of the 3,000 respondents regard gold as a valuable asset for wealth preservation, citing its intrinsic value and historical performance as key factors influencing consumer confidence.

Gold prices saw a slight increase on Saturday, with the cost of 24-carat gold reaching Rs 7,785.3 per gram in morning trading, reflecting a rise of Rs 120. Meanwhile, 22-carat gold was priced at Rs 7,138.3 per gram, up by Rs 110 compared to Friday.

On the Multi Commodity Exchange, October gold contracts rose by Rs 87, or 0.12%, to Rs 69,982 per 10 grams, with a turnover of 17,282 lots. Analysts noted that the price increase was driven by new positions taken by participants.

Salesman in a jewellery store in Secunderabad turned out to be the prime suspect, who planned and implemented the Clock Tower gold heist along with his accomplices.

According to the police, the jeweler accompanied by his salesman, was travelling to their shop at Monda Market in Secunderabad.

The surge was driven by ongoing central bank buying, robust Asian investment flows, resilient consumer demand, and persistent geopolitical uncertainties.

Officials say the syndicate was involved in smuggling of 267 kg of gold worth Rs 167 crore from Sri Lanka during the last two months

Speaking to news reporters after the raids, the BRS MLA termed the raids as politically motivated. Stating that they had cooperated with the ED, he said ED officials had realised that everything was fair with them.

DRI has seized 1,658 kg of gold in 2023-24 fiscal, about 35 per cent more compared to a year ago.

Rakesh identified women passengers in the flight and kept the shoulder bag he carried with him close to the handbags of the women travelers.

The price of 22-carat gold dropped by Rs 1,900 per 10 gm, while 24-carat saw a decrease of Rs 2,080 per 10 gm. As a result, the current prices stand at Rs 65,700 for 22-carat gold and Rs 71,670 for 24-carat.

He admitted to stealing gold and silver ornaments from Nenduguri Ramanna’s houses by breaking open doors at Kethanapalli on May 26 night.

The seven were taken into custody while they were planning to sell the booty in Karimnagar by getting together at Swamy Charan, following a tip.

In the previous session, it had closed at Rs 71,850 per 10 grams. Silver prices also jumped Rs 400 to Rs 83,500 per kg.