'The target for all our counter-terror operations ought to be Pakistani Punjab's population,' argues Colonel Anil A Athale (retd).
Gold in New York, which normally determine a price trend on the domestic front, fell 0.40 per cent to $1,233.70 an ounce in Tuesday's trade.
Gold remained weak for the second straight day and prices fell by another Rs 190 to Rs 26,810 per ten grams.
Gold in New York, which normally sets price trend on the domestic front, rose marginally by 0.02 per cent to $1,255.80 an ounce and silver by 0.18 per cent to $19.06 an ounce in Tuesday's trade.
Gold rises on firm demand, global buoyancy
Sentiments remained bearish as gold fell to 16-week low in the overseas markets as positive US economic data backed the case for the Federal Reserve to keep on reducing monetary stimulus which has dimmed the metal's appeal.
Silver also eased by Rs 320 to Rs 35,780 per kg.
The government on Thursday slashed the import tariff value on gold for the second straight day to $ 414 per 10 grams and silver to $672 per kg, in line with weak global prices of the precious metals.
Silver managed to recover some grounds.
The worsening demand for jewellery has already started impacting jobs and karigars or goldsmiths.
Silver regained the Rs 35,000 per kg mark by gaining Rs 660.
Traders said slackened demand from jewellers and retailers and absence of cues from the global markets as US market are closed today on account of 'Labor Day', kept pressure on gold prices.
Gold prices jumped by Rs 650, its biggest gain since June 20, to close at Rs 26,450 per 10 grams in New Delhi on Saturday on emergence of buying by jewellers and retailers amidst a rebound in global markets.
Bullion merchants said besides increased buying by jewellers and retailers to meet festive season demand, costlier imports due to weakening of the rupee, led to the rise in gold prices.
Silver followed suit and rebounded by Rs 400 to Rs 44,800 per kg on increased offtake by industrial units and coin makers.
Jewellery stores remained deserted as buyers deferred their non-essential purchases awaiting softness in gold prices.
Silver dropped by Rs 175 to Rs 34,550 per kg.
In the national capital, gold of 99.9 and 99.5 per cent purity were up by Rs 150 each to Rs 28,500 and Rs 28,300 per 10 gram respectively.
Rising fuel prices, intense competition and inability to pass on spiralling expenses have been negatively impacting the domestic airlines.
The cinema industry is staring at a loss of at least Rs 5,000 crore at the box office over the next six months if Omicron proves to be a spoiler.
Traders said besides sustained selling by stockists against subdued demand, strengthening rupee led to persistent fall in prices.
Silver, however, remained steady at Rs 37,200 per kg.
Silver also dropped Rs 560 to Rs 36,440 per kg.
Silver, however, recovered by Rs 50 to Rs 36,800 per kg
Traders said profit-selling by stockists at prevailing higher levels against sluggish demand mainly led to decline in gold prices.
Traders said sustained selling by stockists in tandem with a weakening global trend mainly kept pressure on precious metal prices.
In line with overall trends, silver ready recovered by Rs 150 to Rs 36,800 per kg and weekly-based delivery by Rs 175 to Rs 36,800 per kg.
Traders attributed the rise in the precious metal prices to emergence of buying at prevailing levels by stockists and retailers to meet the ongoing marriage season demand.
Globally, gold fell 0.2 per cent to $1,162.25 an ounce in Singapore.
Two aborted missions, three different ministers, multiple rule changes and two decades later, Indian taxpayers will no longer have to pay Rs 20 crore per day to keep the loss-making Air India flying. While opposition Congress expectedly attacked the decision as selling the family silver, DIPAM secretary Tuhin Kanta Pandey said what Tata is getting is not a cash cow but an airline which is bleeding where money needs to be pumped in to refurbish obsolete aircraft and dust up strangled ones while being unable to touch any employee for one year and only be able to resize staff after paying a VRS. "It won't be a very easy task there. Only advantage is they (new Air India owner) are paying the price which they think they can manage. "They are not taking the excessive debt accumulated to fund years of losses. We are continuing it as an ongoing concern.... This process has also saved huge amount of taxpayers money going forward," Pandey told PTI.
Silver followed suit and shed Rs 100 to Rs 36,050 per kg.
Snapping its losing streak, gold prices recovered by Rs 40 to Rs 27,240 per 10 grams in New Delhi on Wednesday on emergence of buying at existing lower levels amid a better trend in global markets.
Investment by US PE firm KKR will add fire to Ambani's battle for dominance in the retail market that is also being eyed by Jeff Bezos' Amazon and Walmart's Flipkart.
Traders said increased buying by stockists and retailers for the ongoing marriage season amid a firming global trend, as escalating tensions between Ukraine and Russia spur demand for haven assets, mainly led the rise in precious metal prices.
In India, domestic airlines have not secured any relief from the government and are reporting 50-55 per cent loads as domestic air travel resumed on May 25 after two-month suspension.
However, silver held steady at Rs 42,600 per kg on scattered enquiries from industrial units.
Gold plunged sharply to hit a three-month low.
Irrespective of the global movement, gold prices in India are nearing the level of Rs 34,000 per 10 grams in the physical markets.
The rupee was trading lower at Rs 61.38 after dipping to 61.74 (intra-day).
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