Cash, liquor, drugs: EC seizures in Tamil Nadu and West Bengal cross Rs 1,000 crore ahead of assembly polls Election authorities in West Bengal and Tamil Nadu have seized over Rs 1,000 crore in poll-related inducements, including cash, liquor, drugs, and precious metals. The Election Commission deployed extensive surveillance teams to curb voter influence and ensure fair elections, while also establishing grievance committees to address public concerns. #West_Bengal #Tamil_Nadu #assembly_polls #precious_metals #Bengal_cross #including_cash #crore_ahead #poll-related_inducements #liquor #drugs
Gold-Silver Rate Fall: Sudden Drop in Silver Price, Gold Falls 11 Rupees per 10 Grams On Thursday, gold and silver prices experienced a sharp decline following a dramatic surge the previous day. Silver prices plummeted by over ₹4,700 per kilogram, making it 2.04 lakh rupees cheaper than its peak level. Gold also saw a drop, with 10 grams of 24 karat gold falling by 11 rupees. The sudden fall came after a previous surge driven by tensions between the United States and Iran, which had pushed silver prices to a high of ₹4,39,337 per kilogram. The drop was immediate, with silver prices opening at ₹2,35,133 per kilogram on Thursday, down from ₹2,39,918 per kilogram on Wednesday. This decline made silver 4,785 rupees cheaper than its previous day's closing price. Analysts noted that the price swing was influenced by the easing of geopolitical tensions, which had previously driven demand for safe-haven assets like gold and silver. Gold also saw a decline, with the 10-gram 24-karat gold price falling to ₹1,50,647 on Thursday, down from ₹1,51,776 on Wednesday. This marked a drop of 1,129 rupees compared to the previous day's closing price. The metal's price is now 52,337 rupees below its lifetime high of ₹2,02,984 per 10 grams. The market reaction was swift, with silver prices dropping by 2.04 lakh rupees per kilogram from their peak. This decline highlights the volatility of precious metals, which are often sensitive to global economic shifts and geopolitical events. The initial surge in prices on Wednesday was attributed to fears of a potential conflict between the US and Iran, which briefly drove demand for gold and silver as investors sought safe-haven assets. However, the market quickly adjusted, with traders selling off their holdings as tensions eased.#us #silver #gold #iran #precious_metals
Metals melt as West Asia war rages on The global trend of rising precious metal prices, once linked to inflation and geopolitical tensions, has reversed as the war in West Asia intensifies. Despite heightened uncertainties and fears of oil-driven inflation, gold and silver prices have declined sharply. Market participants and analysts attribute this downturn to a slowdown in de-dollarization efforts, rising inflation concerns, and the potential for higher interest rates. Central banks, which had previously been major buyers of gold, have started selling the metal, exacerbating the downward pressure. For silver, the decline is also influenced by reduced industrial demand, particularly in sectors reliant on metals for manufacturing. In the domestic market, gold prices have dropped 12% to around Rs 1.4 lakh per 10 grams, while silver has fallen 14% to Rs 2.3 lakh per kilogram. Internationally, gold is down 16.5% to $4,367 per ounce, and silver is at $68.5 per ounce. The decline is even more pronounced when compared to all-time peak prices recorded at the end of January. Domestically, gold has lost 19% of its value, and silver has plummeted 41%. Globally, gold is down 20%, and silver has fallen 42%. Analysts note that the war has disrupted the de-dollarization wave that gained momentum before the conflict began. The dollar index, which tracks the U.S. currency’s value against a basket of major currencies, fell from a high of 114 in September 2022 to a low of 97 by mid-February. This depreciation made precious metals cheaper in other currencies, initially boosting demand. However, the war has slowed de-dollarization, and fears of inflation have raised expectations for higher interest rates.#gold_prices #central_banks #silver_prices #precious_metals #west_asia_war
Gold Price: 15-Year Drop in Gold, Silver Also Falls, How Much Cheaper Will It Get? Gold prices have experienced a significant decline, marking the largest drop in over 15 years. Silver has also seen a sharp fall, with its decline surpassing that of gold in the past week. The market has witnessed a notable drop in gold prices, with the metal losing nearly 10% in value over the last seven days. Analysts are closely monitoring the trend to determine how much further the prices might fall. The drop in gold and silver has raised questions about the factors influencing the market, including economic uncertainties and shifting investor sentiment. While the exact extent of the decline remains under scrutiny, the recent movements highlight the volatility in precious metal markets. Investors are now speculating on potential future trends, with many anticipating further fluctuations in the coming weeks.#gold_price #market_volatility #silver_price #precious_metals #investor_sentiment
