Business
Gold prices today fall sharply, silver rates crash ₹2,500 in two days
Gold prices in India fell for the second day, tracking a decline in global rates after US President Donald Trump suspended stimulus talks with Democrats. On MCX, December gold futures were down 0.9% to ₹50,088 per 10 gram while silver futures fell 1.5% to ₹59,658. In the previous session, gold prices had declined 0.32% per 10 gram amid a choppy trade while silver had tumbled ₹1,450 or 2.3% per kg.
In global markets, gold prices were muted, trading at one-week lows after US President Donald Trump abruptly ended talks with Democrats on an economic aid package. Spot gold was flat at $1,877.15 per ounce after falling 2% in the previous session.
A stronger dollar also hurt gold prices. The dollar index was up 0.2% against rivals. Among other precious metals, silver rose 0.7% to $23.25 per ounce, platinum was up 1% at $856.51, while palladium dipped 0.1% to $2,339.81.
Analysts expect gold to remain choppy depending on the movement in US dollar and general market risk sentiment. India’s gold imports in September fell 59% from a year earlier to the lowest level in four months, Reuters reported, citing sources. India imports bulk of its gold requirement. Analysts hope that gold demand in India is likely to pick up ahead of the festive season, further supported by the recent correction in prices.
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Business
Virat Kohli pays tribute to Ratan Tata, Jay Shah ‘deeply saddened’ by veteran industrialist’s demise
%20(3).jpg "Virat Kohli pays tribute to Ratan Tata, Jay Shah ‘deeply saddened’ by veteran industrialist’s demise")
Tributes continue to pour in for Ratan Tata, with Virat Kohli and Jay Shah taking to their social media accounts to bid farewell to the industrialist.
Former Indian captain and batting legend Virat Kohli paid a touching tribute to Ratan Tata, the legendary business tycoon, who passed away on Wednesday night. Tata, a Padma Vibhushan recipient, was undergoing treatment in intensive care since Monday but breathed his last in Mumbai, leaving a profound impact on many across the nation.
Kohli expressed his condolences through his Instagram account on Thursday morning, sharing a heartfelt message along with a photo of the late industrialist.
Tata’s contribution to business, society, and philanthropy has been widely acknowledged, and his passing marks the end of an era.
The Board of Control for Cricket in India (BCCI) secretary, Jay Shah, also conveyed his sorrow, stating, “Deeply saddened by the loss of Shri Ratan Tata Ji. His leadership, integrity, and dedication to society set a remarkable standard for legacy. My heartfelt condolences to his loved ones. Rest in peace, Sir.” Shah’s words reflect the collective grief of a nation that has long admired Tata’s contributions to the country.
BCCI’s tribute
Additionally, the BCCI issued a statement about his demise.
“The BCCI expresses its deepest sorrow and joins the nation in mourning the passing of Shri Ratan Tata ji. His invaluable contributions across diverse fields have been instrumental in shaping India’s growth and success story.
His extraordinary legacy, founded on the principles of passion, empathy, visionary leadership, innovation, and excellence, will continue to inspire and guide future generations for years to come,” the statement read.
Ratan Tata, born on December 28, 1937, in Mumbai, embarked on his journey with the Tata Group in 1962 as a young executive. Over the decades, he transformed the group into a global conglomerate. His work was acknowledged with India’s second-highest civilian honour, the Padma Vibhushan, in 2008, and he received numerous accolades, including honorary doctorates from prestigious institutions in India and abroad.
Tata is survived by his family, including brothers and sisters Simone Tata, Jimmy Tata, Noel Tata, Aloo Tata, Shireen Jejeebhoy, Deanne Jejeebhoy, Leah Tata, Maya Tata, Neville Tata, Manasi Tata, Jamset Tata, Tiana Tata, and others, as mentioned in a family statement.
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