Meanwhile, retail jewellery sales in India have declined by 50 per cent since gold price started its uptrend nearly two weeks. Buyers deferred their fresh purchase amid expectations of a correction in gold prices from the current high level.
Properties owned by Tiger Memon and his family, accused in the 1993 Mumbai serial blasts, are set to be auctioned. The properties include flats in Al Husseini building where conspiracy meetings were held.
Jahid Patni, deported from Dubai recently, was arrested Saturday and remanded by a special court to police custody till December 15.
Three blasts rocked Mumbai's crowded Zaveri Bazar, Opera House and Dadar Kabootarkhana areas on Wednesday evening, killing 10 and injuring at least 100 people.
Three blasts rocked Mumbai's crowded Zaveri Bazar, Charni Road and Dadar areas on Wednesday evening. Rediff.com's Abhishek Mande managed to get the first shots of the blast at Dadar.
Three blasts rocked Mumbai's crowded Zaveri Bazar, Opera House and Dadar Kabootarkhana areas on Wednesday evening, killing 10 and injuring at least 100 people.
A day after the income tax department and the National Investigation Agency seized 102 bagful of cash and jewellery, it was business as usual at the offices of Angadias at Bhuleshwar, Opera House, Zaveri Bazar, near Cotton Exchange, Pophal Wadi, and Malhar Wadi in Mumbai.
Deora, while campaigning in Zaveri Bazar area on April 4, had made an appeal to the Jain community to not vote for the Shiv Sena as it had hurt their religious sentiments earlier.
Investigators on Tuesday said that they think at least six newly recruited terrorists could have been involved in placing explosives in the triple bombings. However, there has been no breakthrough in the probe nearly a week after the attack.
Zaveri Bazar alone clocks an estimated annual turnover of Rs 5 lakh crore (Rs 5 trillion), estimates the Bombay Bullion Association.
The explosive powder, collected from an apartment in Mumbai of an alleged Indian Mujahideen operative, who carried out the July 13 triple blasts, was RDX though it was not used to trigger explosions on the fateful day, a senior ATS official said on Wednesday.
Spot gold on Saturday slipped below the Rs 30,000 per 10 gram level, for the first time since August 17 last year, to close at Rs 29,890 -- down Rs 200 from Wednesday's close -- mainly on weakness in underlying fundamentals.
Global cues may further weaken the yellow metal; imports seen under control after January surge.
Rediff.com's A Ganesh Nadar meets a victim of last year's deadly triple blasts in Mumbai who lost both his legs in the terrible incident. But the irreparable injury, coupled with financial crises, has not dented his spirit of responsibility.
Gold price is likely to remain sideways this week due to uncertainty in global economy. The metal, of late, has started losing its status as safe haven investment avenue at the time of global economic crisis.
Abhishek Das, 14, lost his father Baburam Das in the Zaveri Bazar bomb blast in Mumbai on July 13. He reveals how he and his family are coping with their loss.
The iconinc Zaveri Bazaar in south Mumbai does business of around Rs 3 trillion a year.
Recent rise may be nearing peak, analysts say long-term trend remains bullish.
The State Bank of India said on Monday it would launch a gold exchange traded fund in 2008. "We are examining this product in our mutual fund company and we are hopeful we should be able to come out with an ETF next year," O P Bhatt, SBI chairman said at a conference in Mumbai.
The spot gold was sold below the landed cost due to the weak demand for the metal.
Most of the jewellers who had reopened their showrooms in confusion on Monday, kept shutters down today at Mumbai's Zaveri Bazar and several other places, demanding rollback of the proposal.
In Zaveri Bazar, gold is being traded at Rs 26,920/10 gm
The revelations made by blast mastermind and Indian Mujahideen founder Yasin Bhatkal have helped the agency understand that the case has two angles to it -- the first being the blend between Indian and Pakistani operatives and secondly the Maharashtra Anti-Terrorist Squad being wrong from day one of the probe.
Believe it or not, but terror outfit Indian Mujahideen sent the operatives who successfully carried out the July 2011 blasts in Mumbai on a vacation to Goa!
Any shift in investor sentiment may result in speculators fleeing the gold market, driving its price down sharply, quickly. One significant risk for gold is a near-term reversal in the dollar, which recently fell to a two-year low.
The gold market has remained under pressure.
This dumping ground should be closed down and some strategy must be found out (to resolve the issue). Only talking of Swachch Bharat and doing Swachch Bharat are two different things. It is a sad affair," he said.
As gold prices turn prohibitive, traders fear a drop of as much as 50% in sales over the previous season.
The global high comes amidst the uncertainties of Brexit, a trade war and slowing growth, with traders increasing their silver bets.
He was also the first to be booked under the stringent Anti-Hijacking Act which had replaced the vintage law of 1982.
The all-time high price of silver is Rs 75,000 a kg, recorded in April 2011.
The Election Commission sent a notice to Mangal Prabhat Lodha, the BJP's Mumbai chief. This is probably because a leading newspaper highlighted his utterances on its front page.
Senior IPS officer Rakesh Maria, who was heading the Maharashtra ATS, on Sunday took charge as Mumbai Police Commissioner and stressed on adopting zero tolerance towards street crimes while describing urban terrorism and organised crime as challenges before the force.
Gold sales were reported at 40 tonnes last year; this might have been surpassed this year.
Despite the recent imposition of import rule and high duties, the yellow metal continues to attract buyers.
Levy in India one of the highest in the world; finance minister urges banks to tell customers not to invest in the metal.
This is the first arrest under the Act which came into force in July 2017, replacing the 1982 vintage law, according to which an accused can face a maximum punishment of life imprisonment till death and his properties can be confiscated, police said.
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