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Gold rises Rs 650 to Rs 1.66 lakh/10g in Delhi

New Delhi, May 14 (PTI) Gold price rose by Rs 650 to Rs 1.66 lakh per 10 grams in the national capital on Thursday after the rupee fell to a record low against the US dollar amid persistent geopolitical tensions. According to the All India Sarafa Association, gold of 99.9 per cent purity rose Rs 650 to Rs 1,66,000 per 10 grams (inclusive of all taxes) from Wednesday’s closing of Rs 1,65,350 per 10 grams. This is the third consecutive day of fall for the precious metal. “Gold traded with modest gains in the domestic market, supported by positive cues

Iran allowing transit of Chinese vessels in Strait of Hormuz, Fars news reports

DUBAI, May 14 (Reuters) – Iran has begun allowing some Chinese vessels to transit through the Strait of Hormuz following an understanding ​over Iranian management protocols for the waterway, the semi-official ‌Fars news agency said on Thursday, citing an informed source. The Fars report came as U.S. President Donald Trump, who is on a state visit ​to China, agreed with the Chinese leader Xi Jinping ​that the Strait of Hormuz must be open for ⁠the free flow of energy. The source told Fars news the ​move followed requests by China’s foreign minister and ambassador to ​Iran, with Tehran agreeing to

Sensex jumps nearly 790 pts on buying in telecom, banking shares

Mumbai, May 14 (PTI) Stock markets rose for the second consecutive day on Thursday with the benchmark Sensex jumping by nearly 790 points in a volatile session, driven by value buying in telecom, pharma and private banking shares. The 30-share BSE Sensex jumped 789.74 points, or 1.06 per cent, to close at 75,398.72. The index opened higher but slipped into negative territory in late morning deals. However, value buying in telecom and banking shares helped the barometer pare losses and later jump more than 1,000 points to a high of 75,681.88. Extending gains to the second day, the 50-share NSE

Rupee settles at record low of 95.73 against US dollar

Mumbai, May 14 (PTI) The rupee weakened further and fell to a record low of 95.73 (provisional) against the US dollar on Thursday, amid a strong dollar and worries over inflation amid elevated energy prices. Forex traders said the rupee is expected to trade with a negative bias amid inflation concerns and the strength of the US dollar in the overseas market. The West Asia crisis and the blockade of the Strait of Hormuz have disrupted crude petroleum imports into India. Also, the sharp rise in crude prices has made fuel imports costlier. The rupee has become the worst-performing currency

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