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Gold trading at Rs 50,950 per 10 gm today; silver is at Rs 65,000/kg

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Gold trading at Rs 50,950 per 10 gm today; silver is at Rs 65,000/kg

Ten gram of 24-carat gold is selling at Rs50,950 on Wednesdaydown Rs 330 since the last trade as demand dipped for the safe-haven bullion.

Ten gram of 22 carat gold is selling at Rs 46,700down Rs 300 from Tuesday according to the Goodreturns website. One kg of silver is selling at Rs 65,000down Rs 200 from the last trade.

In Delhi, Kolkata and Mumbai, 24-carat gold is selling at Rs 50,950. The price of 22-carat gold in these cities is Rs 46,700.

In Chennai, 24-carat gold is selling at Rs 52,230. The price of 22-carat gold is Rs 47,880 in Chennai.

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The prices of gold and silver vary across the country due to excise duty, state taxes, and making charges.

In Chennai, the price of 1 kg of silver is at Rs 70,000. In Delhi, Kolkata and Mumbai, the price is at Rs 65,000.

Gold prices edged lower after Russian and Ukrainian officials held the first round of ceasefire talks, dampening demand for the safe-haven bullion, a report in Reuters said.

Complete News Source : Business Standard
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Oppn seeks probe into Adani charges in US: ‘Obvious protection of PM Modi’

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Oppn seeks probe into Adani charges in US: ‘Obvious protection of PM Modi’

Following US SEC charges of bribery against Gautam Adani, opposition parties criticise PM Narendra Modi and call for a JPC investigation.

As billionaire Gautam Adani faces charges in the US for alleged bribery and fraud, the Opposition on Thursday intensified its attack on the Centre over its alleged links with the Adani Group.

Gautam Adani has been charged in the US with allegedly paying $250 million in bribes to Indian officials between 2020 and 2024 to secure favourable terms for solar energy contracts. The scheme, prosecutors said, could have earned Adani’s group over $25 billion in profits.

Congress demands JPC probe

Reacting to the charges, the Congress called for a Joint Parliamentary Committee (JPC) probe into alleged scams involving Adani’s conglomerate. The party also demanded the appointment of a “new and credible” Sebi chief to investigate Adani’s financial dealings and compliance with securities laws.

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Congress leader Jairam Ramesh said the US Securities and Exchange Commission’s (SEC) actions highlight the failure of Indian institutions to investigate the group. “The indictment vindicates Congress’s demand since January 2023 for a JPC into the Modani scams,” Ramesh wrote on X.

He accused Prime Minister Narendra Modi of shielding Adani and claimed Congress’s “Hum Adani Ke Hain Kaun” (HAHK) series had exposed the businessman’s alleged fraud and his ties with the PM.

The fact that it has taken a foreign jurisdiction to properly investigate Adani only shows how Indian institutions have been captured by the BJP, and how decades of institutional development have been undone by greedy and power hungry leaders, the Congress leader said in another post.

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“All of this is consistent with a long record of fraud and criminality carried out with impunity with the obvious protection of the Prime Minister,” Ramesh charged.

Other Oppn leaders join attack

Other opposition leaders joined the attack. Trinamool Congress MP Saket Gokhale questioned the BJP’s involvement in Adani’s dealings and demanded an independent judicial probe.

Aam Aadmi Party leader Sanjay Singh accused PM Modi of allowing Adani to tarnish India’s global reputation.

ALSO READ- Adani Group shares plunge after US SEC charges, Adani Green down 16%

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Adani stocks latest updates

The allegations rattled markets, with Adani Group stocks plunging. Adani Enterprises fell 20 per cent in pre-open trade, while shares of Adani Ports, Adani Green, Adani Power, and others dropped between 7 per cent and 18 per cent.

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