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Gold And Silver Prices Correct After Record Highs, Dhanteras Jewellery Sales Soar 35-40 Per Cent
Business

Gold And Silver Prices Correct After Record Highs, Dhanteras Jewellery Sales Soar 35-40 Per Cent

Gold and silver prices fell on Tuesday as investors booked profits after both metals hit record highs in the previous session, even as festive jewellery sales during Dhanteras jumped 35–40 per cent across India. Silver Exchange Traded Funds (ETFs), which had delivered stellar one-year returns of around 65–70 per cent, also saw a sharp correction as global prices cooled following improved physical supply and easing safe-haven demand. Silver had turned hot earlier this month when global spot prices surged past $40 an ounce amid concerns of a physical shortage. The rally extended further, crossing $50 in mid-October. However, by the end of last week, prices began to retreat as easing trade tensions reduced safe-haven demand. On October 17, silver prices in the US fell by over 6 per cent, and the correction soon spilled over into Indian markets. According to the India Bullion and Jewellers Association (IBJA), silver prices in India fell 7 per cent on October 20, slipping from Rs 1,71,275 per kg to Rs 1,60,100 per kg. The decline directly impacted silver ETFs, which mirror domestic silver prices. Data from Ace MF shows that silver ETFs logged steep single-day losses, with most funds dropping up to 7 per cent on October 20. Analysts noted that the ETFs are now trading at or below fair value -- a sign that investor demand has started to cool after months of heavy inflows. Meanwhile, in the international market, gold prices also softened after touching record highs on Monday. Spot gold was down 0.3 per cent at $4,340.29 per ounce as of 0248 GMT, after hitting an all-time high of $4,381.21 in the previous session. US gold futures for December delivery eased 0.1 per cent to $4,356.40 per ounce, as investors booked profits amid expectations of further interest rate cuts by the US Federal Reserve. The Multi Commodity Exchange (MCX) will also observe special Muhurat trading today, October 21, with a pre-open session from 1:30 p.m. to 1:44 p.m., followed by the Muhurat trading window from 1:45 p.m. to 2:45 p.m. Despite the short-term correction, festive demand for gold and silver remains strong. The All India Gem & Jewellery Promotion Council, said that around 50 to 60 tonnes of jewellery were sold nationwide over the two days of Dhanteras, generating nearly Rs 85 crore in sales. It added that while the sales volume was similar to last year, the overall value grew by 35–40 per cent due to higher prices and rising consumer interest. “Silver, in particular, has seen a remarkable surge, with sales nearly doubling this season. With Dhanteras coinciding with the weekend and followed by Diwali and Bhau Beej, the five-day festive period is expected to deliver exceptional results,” it mentioned. “We anticipate total jewellery sales reaching 100 to 120 tonnes, valued between Rs 1 lakh crore and Rs 1.35 lakh crore,” they said. (This report has been published as part of the auto-generated syndicate wire feed. Apart from the headline, no editing has been done in the copy by ABP Live.)

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10 months ago
The Moon suddenly lights up? Strange flashes and glows still puzzle scientists around the world
Science

The Moon suddenly lights up? Strange flashes and glows still puzzle scientists around the world

For centuries, astronomers have observed Transient Lunar Phenomena (TLPs) – strange lights on the Moon. These enigmatic flashes and glows, possibly caused by meteoroid impacts or gas releases from the lunar interior, offer crucial insights into the Moon's geology and dynamic processes. Ongoing research aims to unravel their mysteries and enhance our understanding of Earth's closest celestial neighbor.

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10 months ago
Diabetes And Stroke: How Blood Sugar Spikes Affect Your Brain
Lifestyle

Diabetes And Stroke: How Blood Sugar Spikes Affect Your Brain

(By Dr. Amlan Tapan Mohapatra) Diabetes or diabetes mellitus is a long-term metabolic disorder characterized by elevated blood glucose levels. Most food we eat is broken down into glucose to give us energy. Glucose enters a person’s bloodstream and travels to cells throughout the body after food digests. ALSO READ: Eat Smart, Stay Balanced: How Diet Shapes Your Hormonal Health The Link Between Diabetes And Stroke For glucose to enter cells and provide energy, it needs a hormone called insulin. Diabetes occurs when one of our body organ known as pancreas does not produce adequate insulin or there is ineffective insulin action. Beyond its well-known effects on the kidneys, eyes, and heart, diabetes significantly increases the risk of stroke, a serious neurological emergency caused by disrupted blood flow to the brain.  People with diabetes are two times more likely to experience a stroke compared to those without diabetes. In addition, the risk of stroke associated with diabetes is higher in women than in men. The main reason lies is the accelerated atherosclerosis, a process where fatty deposits build up inside the arteries, narrowing them and making them prone to blockage or rupture. Also diabetes often coexists with other risk factors such as high blood pressure, obesity and high cholesterol which adds up to the overall risk. Brain stroke occurs when blood supply to brain is cut off and brain is deprived of oxygen and nutrients leading to death of brain cells (neurons) within minutes. It occurs either due to clot in blood vessel (ischemic stroke) or rupture of blood vessels (hemorrhagic stroke). Each minute counts; we often say time is brain. Stroke is a medical emergency, timely intervention and treatment reduces mortality and disability. Preventive Measures: Prevention plays a key role. Strict control of blood sugar greatly reduces stroke risk. Regular physical activity (at least 150 minutes of moderate activity per week), a balanced diet low in saturated fats and refined sugars with whole grains, fruits and vegetables, quitting smoking, and maintaining a healthy body weight are essential lifestyle measures.  For those who have already suffered a stroke, effective diabetes management becomes even more vital to prevent recurrence. Continuous follow-up with your doctors, adherence to medications, and routine monitoring of blood glucose help reducing chances of stroke. Dr Amlan Tapan Mohapatra is Consultant - Neurologist at Manipal Hospital Bhubaneswar [Disclaimer: The information provided in the article is shared by experts, is intended for general informational purposes only. It is not a substitute for professional medical advice, diagnosis, or treatment. Always seek the advice of your physician or other qualified healthcare provider with any questions you may have regarding a medical condition.]

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10 months ago
Shocking reason why Pakistan removed Mohammed Rizwan as ODI captain
Sports

Shocking reason why Pakistan removed Mohammed Rizwan as ODI captain

Pakistan wicketkeeper-batter Mohammad Rizwan has been removed as ODI captain, replaced by Shaheen Shah Afridi. Sources told TimesofIndia.com that Rizwan’s refusal to promote betting companies led to his ouster, despite his strong performances. Former captain Rashid Latif slammed the PCB, hinting at ideological bias, as Shaheen prepares to lead Pakistan against South Africa in Faisalabad.

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10 months ago
RBI bulletin: Indian economy remains resilient amid global uncertainty
Business

RBI bulletin: Indian economy remains resilient amid global uncertainty

The Indian economy shows resilience against global headwinds, driven by strong macroeconomic fundamentals like low inflation and robust balance sheets. While urban demand is reviving and rural consumption remains strong, the rupee depreciated in September due to FPI outflows and global uncertainties. Domestic reforms are helping to offset weakening external demand.

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10 months ago
From Kash Patel to Vivek Ramaswamy: Indian-Americans remembering their roots and wishing happy Diwali
World

From Kash Patel to Vivek Ramaswamy: Indian-Americans remembering their roots and wishing happy Diwali

Indian-American leaders, including FBI Director Kash Patel and Ohio governor candidate Vivek Ramaswamy, extended Diwali greetings, emphasizing the triumph of good over evil. Texas Governor Greg Abbott hosted a Diwali celebration, joined by India's Consul General. Members of Congress also participated in community events, highlighting the diaspora's vibrant cultural heritage.

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10 months ago
Asrani's manager reveals actor's final moments
Entertainment

Asrani's manager reveals actor's final moments

Veteran actor Govardhan Asrani, widely known as Asrani, has passed away. He was 84. His demise was confirmed by his manager. Asrani had been unwell for two weeks and was admitted to hospital for breathing issues. His last rites were performed privately. Asrani was celebrated for his memorable roles in films like Sholay and Welcome.

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10 months ago
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