India Hot Topics
Gold prices jump sharply, silver surges ₹2,500 in a day
Gold and silver prices rose sharply in India after remaining range-bound for most part of the week. Gold futures on MCX rose ₹650 or 1.3% to ₹50,817 per 10 gram while silver futures surged 4% or ₹2,500 to ₹62,955 per kg on Friday. A softer US dollar and hopes of fresh US stimulus lifted global rates. “Precious metals gained on feeble dollar and on anticipation of US stimulus package. MCX precious metals moved in tandem with global benchmarks.” Geojit Financial Services said in a note.
US gold futures jumped over 2% on Friday to $1,925 an ounce. The dollar meanwhile slid 0.7% as expectations grew for a Biden win, making gold cheaper for those holding other currencies.
Low interest rates and unprecedented money printing by central banks to ease the economic blow from the coronavirus pandemic have driven a 26% rally for gold this year.
Additionally, a widening lead for Democratic presidential candidate Joe Biden has raised the prospect of further stimulus, adding to gold’s allure, say analysts.
The Trump administration is boosting its offer in COVID-19 aid talks in hopes of an agreement before Election Day. Trump on Friday took to Twitter to declare: “Covid Relief Negotiations are moving along. Go Big!”
A further drop in the dollar could add more fuel to the gold rebound, say analysts.
In India, the seventh tranche of sovereign gold bonds will open for subscription on Monday. The issue price for the sovereign gold bond has been fixed at ₹5,051 per gram of gold, the Reserve Bank of India (RBI) said in a statement on Friday.
“The nominal value of the bond based on the simple average closing price for gold of 999 purity of the last three business days of the week preceding the subscription period…works out to ₹5,051 per gram of gold,” the RBI said.
Investors who apply online and make payment through digital mode get a discount of ₹50 per gram. For such investors, the issue price of gold bond will be ₹5,001 per gram of gold.
Tap To Explore More : Economic Times
Also Read : INDIA REPORTS 73,272 CASES IN LAST 24 HOURS, TOTAL INFECTIONS NEAR 70 LAKH
Movie
The Madras High Court has granted early screenings of Vijay’s Leo movie from 7 AM, requesting the TN government to resolve any issues.
Madras High Court Grants Early Screenings of Vijay’s “Leo” Movie at 7 AM, Urges TN Government to Address Concerns
The Madras High Court has made a landmark decision in favor of the much-anticipated Tamil film “Leo,” starring actor Vijay. In a significant move, the court has granted permission for early screenings of the movie from 7 AM, urging the Tamil Nadu government to swiftly address any issues and facilitate the smooth release of the film. This decision marks a pivotal moment in the realm of Tamil cinema and the entertainment industry at large.
Historical Context:
The Indian film industry, particularly the Tamil film industry, has seen its share of controversies and challenges related to film releases. Issues such as censorship, political disputes, and public sentiment have often played a significant role in shaping the release schedules and screening times for films. Vijay, one of Tamil cinema’s most prominent actors, has been at the center of such controversies in the past. This decision by the Madras High Court is, therefore, particularly noteworthy.
The Ruling:
The Madras High Court’s decision to permit early screenings of “Leo” comes as a response to a plea filed by the film’s producers. The court, while considering the plea, took into account various factors, including the film’s anticipated popularity and the prevailing circumstances. The court emphasized the importance of accommodating the audience’s interests and allowing them to enjoy the film without disruptions.
A Step Towards Normalization:
The court’s decision signifies a positive shift in the film industry, where release dates and screening times are often mired in controversy. By allowing screenings to commence at 7 AM, the court aims to reduce the chances of public unrest and congestion near theaters, especially in the wake of high-profile film releases.
The Role of the Tamil Nadu Government:
The Madras High Court, in its ruling, also called upon the Tamil Nadu government to cooperate in ensuring a seamless release for the film. This cooperation extends to providing necessary security measures to maintain law and order around theaters during the early screenings.
Implications for the Entertainment Industry:
The decision is expected to set a precedent for the release of other highly anticipated films, not just in Tamil cinema but also in the broader Indian film industry. The court’s emphasis on the importance of accommodating the audience’s interests could lead to more flexible screening times for movies in the future.
The Audience’s Perspective:
For moviegoers and fans of Vijay, this decision comes as a welcome relief. They can now look forward to enjoying the film without any undue delays or disruptions, ensuring a memorable cinematic experience.
In conclusion, the Madras High Court’s ruling to allow early screenings of Vijay’s “Leo” at 7 AM while urging the Tamil Nadu government to resolve any issues paves the way for a more audience-centric approach in the film industry. It is a landmark decision that highlights the importance of balancing the interests of filmmakers and the movie-loving public. This judgment is poised to make a positive impact on the release of future films, ushering in a new era of flexibility and convenience for cinema enthusiasts.
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