Gold prices decline to over 3-year low on global cues

November 5, 2014

New Delhi, Nov 5: Gold prices plunged by Rs 450 to trade at over three-year low of Rs 25,900 per 10 grams in the national capital on Wednesday as the dollar's strength dampened demand for the precious metal.

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Besides, low demand from jewellers and retailers who preferred to defer their buying activity on hopes of further dip in prices and diversion of funds towards soaring equity markets, weighed on prices.

Silver followed suit and recorded a steep fall of Rs 900 to Rs 35,050 per kg on poor offtake by industrial units and coin makers.

Bullion traders said a weakening trend in global markets, as the dollar's strength eroded demand, mainly put pressure on the precious metal.

Further, jewellers and retailers deferring their buying on expectations of further slide in gold prices, dampened sentiments.

Gold in Singapore, which normally sets price trend on the domestic front, fell 1.90 per cent to USD 1,146.34 an ounce, the lowest since April 2010 and silver plunged 3.4 per cent to USD 15.48 an ounce, the lowest since February 2010.

Meanwhile, gold in futures trading at the Multi Commodity Exchange (MCX) was trading lower by Rs 530, or over 2 per cent, at Rs 25,433 per 10 grams.

In Delhi, gold of 99.9 and 99.5 per cent purity dropped by Rs 450 each to trade at over three-year low of Rs 25,900 and Rs 25,700 per 10 grams, respectively.

Sovereign also showed some weakness and declined by Rs 100 to Rs 23,600 per piece of eight grams.

Silver ready dropped by Rs 900 to Rs 35,050 per kg and weekly-based delivery by Rs 1,210 to Rs 34,730 per kg.

Silver coins also tumbled by Rs 2,000 to Rs 57,000 for buying and Rs 58,000 for selling of 100 pieces.

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News Network
December 19,2025

Mangaluru: Public transport in Mangaluru is set for a state-led transformation as the government moves to deploy 100 new electric govt buses to replace unreliable private services. The initiative aims to provide a dependable alternative to private operators who have been frequently "cutting trips," leaving thousands of commuters stranded.

The announcement was made by Deputy Commissioner and MCC Administrator Darshan HV during a public phone-in session. The move specifically targets routes where private bus service has become erratic, ensuring that citizens no longer have to rely on a fluctuating private sector for their daily commute.

Restoring the Govt Presence

The transport crisis was brought to the forefront by Ramayya, a resident of Bajal, who highlighted a growing trend of private buses skipping morning and night trips. With the previous KSRTC (govt) services discontinued, residents have been left without a fallback option.

To fix this, the DC confirmed that the PM-eBus Sewa Scheme will bring 100 government-owned electric buses to the city:

•    Phased Deployment: The first 50 of the new 100 government buses are scheduled to arrive by March 2026.

•    State Infrastructure: Two new government depots, including one at Mudipu, are being prepared for operations.

•    Recruitment: The state has already begun training a new batch of government bus drivers to ensure the fleet is operational the moment it arrives.

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News Network
December 19,2025

Mangaluru: In a decisive move to tackle the city’s deteriorating sanitation infrastructure, the Mangaluru City Corporation (MCC) has announced a massive ₹1,200 crore action plan to overhaul its underground drainage (UGD) network.

The initiative, spearheaded by Deputy Commissioner and MCC Administrator Darshan HV, aims to bridge "missing links" in the current system that have left residents grappling with overflowing sewage and environmental hazards.

The Breaking Point

The announcement follows a high-intensity phone-in session on Thursday, where the DC was flooded with grievances from frustrated citizens. Residents, including Savithri from Yekkur, described a harrowing reality: raw sewage from apartments leaking into stormwater drains, creating a "permanent stink" and turning residential zones into mosquito breeding grounds.

"We are facing immense difficulties due to the stench and the health risks. Local officials have remained silent until now," one resident reported during the session.

The Strategy: A Six-Year Vision

DC Darshan HV confirmed that the proposed plan is not a temporary patch but a comprehensive six-year roadmap designed to accommodate Mangaluru’s projected population growth. Key highlights of the plan include:

•    Infrastructure Expansion: Laying additional pipelines to connect older neighborhoods to the main grid.

•    STP Crackdown: Stricter enforcement of Sewage Treatment Plant (STP) regulations. While new apartments are required to have functional STPs, many older buildings lack them entirely, and several newer units are reportedly non-functional.

•    Budgetary Push: The plan has already been discussed with the district in-charge minister and the Secretary of the Urban Development Department. It is slated for formal presentation in the upcoming state budget.

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News Network
December 15,2025

Mangaluru, Dec 15: Air India Express has announced that it will resume direct flight services between Mangaluru and Muscat from March 2026, restoring an important international air link for passengers from the coastal region.

Airport authorities said the service will operate twice a week—on Sundays and Tuesdays—from March 1. The initial flights are scheduled on March 3, 8 and 10, followed by March 15 and 17, with the same operating pattern to continue thereafter. The flight duration is approximately three hours and 25 minutes.

The Mangaluru–Muscat route was earlier operated under the 2025 summer schedule, with services beginning on July 14. At that time, Air India Express had operated four flights a week before suspending the service.

Officials said the summer schedule will come into effect from March 29, after which changes in flight timings and departure schedules from Mangaluru are expected. Passengers have been advised to check the latest schedules while planning their travel.

The resumption of direct flights to Muscat is expected to significantly benefit expatriates, business travellers and others, further strengthening Mangaluru’s air connectivity with the Gulf region.

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