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Gold, silver futures rally 7 pc after govt raises import duty on bullion

New Delhi, May 13 (PTI) Gold prices rallied by Rs 9,723 to Rs 1.63 lakh per 10 grams in futures trade on Wednesday, while silver soared 7 per cent to approach the Rs 3 lakh per kilogram mark after the government hiked import duties on precious metals to 15 per cent. The move is aimed at curbing precious metals imports amid a rising import bill due to the ongoing West Asia crisis. On the Multi Commodity Exchange (MCX), gold futures for the June delivery appreciated by Rs 9,723, or 6.34 per cent, to Rs 1,63,165 per 10 grams. Silver prices

Sonia Gandhi visits Medanta Hospital for ‘routine’ check-up

New Delhi, May 13 (PTI) Congress leader Sonia Gandhi on Wednesday visited Medanta Hospital in Gurugram for a routine check-up, a police source said. The former Congress president is at the hospital and will leave soon, the officer said. There was no comment from the hospital on the visit.

Gold duty hike to hurt jewellery trade, spur grey market: GJC

Mumbai, May 13 (PTI) The gems and jewellery industry is likely to face challenging times ahead following the hike in gold import duty to 15 per cent, from 4 per cent earlier, a move that could spur the grey market, the All India Gems and Jewellery Council (GJC) said on Wednesday. “Business is now going to become difficult on the back of the Prime Minister’s austerity measures and following the import duty hike in bullion. What the industry fears is that this will give rise to grey market… smuggling is likely to grow, setting up a parallel economy in the

Trump says he does not need China’s help to end Iran war, Tehran tightens grip on Hormuz

WASHINGTON/LONDON/BAGHDAD, May 12 (Reuters) – U.S. President Donald Trump said on Tuesday he does not think he ​will need China’s help to end the war with Iran, even as hopes for a lasting peace deal dwindled and Tehran tightened its grip over the Strait ‌of Hormuz. Ahead of a high-stakes summit in Beijing, Trump said he did not think he would need to enlist Chinese President Xi Jinping to resolve the conflict, which has continued to block maritime traffic that normally provides one-fifth of the world’s oil supply. “I don’t think we need any help with Iran. We’ll win it

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