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Gold crosses psychological level of $3000

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Gold crosses psychological level of 00



Chennai: Gold in the international market crossed the psychological level of $3000 per ounce amidst trade war, fears of an impending recession, unresolved geo-political uncertainties and interest rate cuts. Both gold and silver made new record highs in the domestic market.

Gold climbed to an all-time high level of $3002 on Friday, having moved up over $50 per ounce in three days. Gold prices at the MCX touched Rs 88,200 per 10 gm. The Multi-Commodity Exchange opened in the evening for trading due to the Hindu festival of Holi.

Silver once again scaled up to cross Rs 1 lakh mark and touched a new high of Rs 1,15,000 per kg. It had crossed Rs 1 lakh earlier in October.

“The ongoing US- China trade war, coupled with Trump’s 200 per cent tariff threats on European imports, has intensified safe-haven demand,” said Ajay Kedia, MD, Kedia Commodities.

Moreover, JP Morgan chief economist’s statement that there is about a 40 per cent chance of a US recession this year and a risk of lasting damage to the country’s standing as an investment destination if the administration undermines trust in the governance also has increased concerns in the market.

Over the past year, gold has gained sharply amid global economic instability, concerns over equity valuations, and a shift by central banks away from dollar-based reserve. The market also has been speculating that the Federal Reserve is expected to cut interest rates at least three times this year, adding to gold’s appeal.

“At $3,000, gold has already hit the 2025 price target set by us. The key resistance levels for gold now are $3070 and $3140. If the factors persist, we expect gold to overcome the resistance of $3140 in the first half of the year. This could see gold moving up to Rs 92,000 in the MCX,” said Kedia.

As for silver, Rs 1,30,000 per kg cannot be dismissed in the first of the year.



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Sabotage Unlikely Cause Of Deadly Blast At Iranian Port: Governor

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Sabotage Unlikely Cause Of Deadly Blast At Iranian Port: Governor


Governor of the southern Iranian province of Hormozgan, Mohammad Ashouri Taziani, refuted on Tuesday the hypothesis that an act of sabotage was behind a deadly blast at Shahid Rajaee Port in southern Iran. 

He made the remarks while elaborating on the likely causes of the explosion that occurred on Saturday and its subsequent fire, in which at least 70 people were killed and over 1,200 others injured, the official news agency IRNA reported.

Ahsouri Taziani said some foreign media raised the speculation that the incident had probably been the result of an act of sabotage, but preliminary investigations showed that the sabotage hypothesis failed to be of “sufficient strength.”

He added that according to a statement by the provincial crisis management headquarters, a failure to properly observe safety and passive defense measures had been among the main causes of the incident.

On Monday, Iran’s Interior Minister Eskandar Momeni identified “certain negligence” as one of the reasons behind the deadly explosion, Xinhua news agency reported.

Meanwhile, the fire at Shahid Rajaee Port has been completely contained, while the rescue and relief operations were still ongoing, the semi-official Mehr news agency reported citing the provincial governor.

On Monday, Iran’s Interior Minister Eskandar Momeni identified “certain negligence” as one of the reasons behind the deadly explosion in the provincial capital Bandar Abbas, where this port, the country’s largest maritime hub, is located.

He made the remarks in an interview with state-run IRIB TV, elaborating on the ongoing investigations to determine the cause of the incident.

Momeni said that during an earlier meeting held in Bandar Abbas to discuss the explosion’s cause, several individuals whose negligence had been confirmed were summoned. He noted that a failure to observe safety regulations and passive defence measures properly contributed to the disaster, urging the relevant authorities and investigative committee to accelerate efforts to determine the full cause accurately.

Following the deadly blast, Hossein Sajedinia, head of Iran’s National Disaster Management Organisation, told the IRIB on Sunday that some of the containers at the port contained flammable materials, such as pitch, and some others carried chemicals.

Despite the incident, the port’s wharfs have resumed operations and cargo handling, according to the official news agency IRNA.



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PM Modi says ‘time is limited, goal is big’, but adds it’s ‘not about current situation’ amid India-Pak tension | India News – The Times of India

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PM Modi says ‘time is limited, goal is big’, but adds it’s ‘not about current situation’ amid India-Pak tension | India News – The Times of India


Prime Minister Narendra Modi

NEW DELHI: As the country seethes to avenge the killing of 26 civilians by Pakistan-backed terrorists in Kashmir’s Pahalgam, Prime Minister Narendra Modi on Tuesday dropped a big hint on the government’s preparedness to thwart terrorism and its backers.
Addressing the YUGM Conclave, PM Modi said: “We have set a time frame of the next 25 years for the goal of a developed India. We have limited time; the goals are big. I am not saying this for the present situation. That is why it is important that the journey of our idea from prototype to product is also completed in the shortest possible time. When we reduce the distance from lab to market, the results of research start reaching people faster. This also motivates the research.”

LIVE: PM Modi attends YUGM Conclave at Bharat Mandapam, New Delhi

The remark comes at a time of heightened tension between India and Pakistan after the Pahalgam terror attack.
On Sunday, PM Modi, during the 121st episode of his monthly radio programme ‘Mann Ki Baat,’ paid tribute to the victims of the Pahalgam terror attack, condemning the loss of lives and reiterating India’s resolute commitment to fighting terrorism.
“Once again, I assure the victims’ families that they will get justice. The conspirators and perpetrators of this attack will face the harshest response,” PM Modi said.
Earlier, in Bihar’s Madhubani, PM Modi issued a stern warning to terrorists, pledging to “identify, track, and punish” those responsible for the Pahalgam terror attack that claimed 26 lives.
Addressing his first public gathering since the attack, PM Modi expressed the nation’s grief and assured decisive action against the perpetrators.
“Today, on the soil of Bihar, I say to the whole world, India will identify, trace and punish every terrorist and their backers. We will pursue them to the ends of the Earth. India’s spirit will never be broken by terrorism,” Prime Minister said.
“Terrorism will not go unpunished. Every effort will be made to make sure that justice is done. The entire nation is one in this resolve. Everyone who believes in humanity is with us. I thank the people of various countries and their leaders who have stood with us,” he added.





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Delhi Cabinet approves Bill to regulate fee in government, private schools

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Delhi Cabinet approves Bill to regulate fee in government, private schools


Parents stage protest outside the Delhi Directorate of Education over fee hike by private schools, in New Delhi, on April 16, 2025.
| Photo Credit: PTI

The Delhi government, in a meeting chaired by Chief Minister Rekha Gupta, on Tuesday (April 29, 2025) approved a bill to regulate fee in private and government schools in the national capital.

Also Read | Act against schools hiking fees illegally, Delhi CM Rekha Gupta directs officials

The government has taken a “bold and historic” step by approving the Delhi School Education Transparency in Fixation and Regulation of Fees Bill, 2025, the CM said while addressing a press conference after the meeting.

Ms. Gupta said that the issue was discussed widely in recent days and there was “panic” among the parents due to activities of some schools and complaints regarding “harassment” of students in the name of fee hike.

“The previous governments in Delhi made no provision to prevent fee hike. There was no guideline to help government prevent fee hike by private schools,” she said.

Also Read | Fee hike issue: Delhi CM says notices issued to schools after complaints, warns of strict action

Education Minister Ashish Sood said that the Bill proposes formation of a three-tier committees to regulate fee hikes.



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