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For the first time in two years, Gold prices have gone up from past Rs 30,000

Analysts believe that risk-taking investors have decided to stick with the solid asset of gold, creating an inflation of prices

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Gold bars. Image source: Wikimedia Commons
  • On Thursday, 10 grams cost Rs 30,852
  • The price of gold has shot up 24% since January
  • The lowered price of the dollar does not help

After the demand for Gold has increased in the global market, price of the metal has shot up on Thursday, June 16, at the Multi Commodity Exchange. This is the first time in two years that the price of gold has gone past the Rs 30,000 ($444.84) mark; shooting up from Rs 408. Although this is the first time in two years we are seeing gold prices like this, gold prices have gone up 24% since January, said the Scroll.in report.

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People buying gold in India. Image source: newIndiaExpress.com
People buying gold in India. Image source: newIndiaExpress.com

According to the Scroll.in report, analysts believe that risk-taking investors have decided to stick with the solid asset of gold, creating an inflation of prices. A potential factor for a further rise in prices lies in the members of the European Union. Experts have predicted that if the UK leaves the EU then gold prices could shoot up to Rs 94,213 ($1,400).

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Two banks are also responsible for the higher price. Federal Bank Limited and Bank of Japan did not change key policy rates, which did not help to keep the price of gold down. It also is not helpful that the dollar itself has dropped against other currencies.

In Singapore, the price of gold went from $10.80 to $1,302.30 per ounce.

  • prepared by Abigail Andrea, an intern at NewsGram. Twitter @abby_kono

ALSO READ:

  • Vrushali Mahajan

    Gold is one of the biggest and easiest investment one can make. Therefore measures should be taken to make it available for people who want a to and can afford it

  • Paras Vashisth

    Gold is most essential thing in India.And for control this rised price, government have to convince these two banks to help for keep the price of gold down.

  • AJ Krish

    With prices this high,I wonder how the common man can afford it. It is somewhat like a custom to wear gold old ornaments in India.I really do hope the prices come down.

  • Aparna Gupta

    Gold jewellery is highly used in wedding seasons. With gold rates touching sky, it becomes almost impossible for common man to afford it.

  • Vrushali Mahajan

    Gold is one of the biggest and easiest investment one can make. Therefore measures should be taken to make it available for people who want a to and can afford it

  • Paras Vashisth

    Gold is most essential thing in India.And for control this rised price, government have to convince these two banks to help for keep the price of gold down.

  • AJ Krish

    With prices this high,I wonder how the common man can afford it. It is somewhat like a custom to wear gold old ornaments in India.I really do hope the prices come down.

  • Aparna Gupta

    Gold jewellery is highly used in wedding seasons. With gold rates touching sky, it becomes almost impossible for common man to afford it.

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UN Brings the World Together to Fight Violence Against Women and Girls; 1 in Every 3 Women Currently Face Gender-based Oppression Globally

A third of all women experience violence at some point in their lives, and that figure is twice as high in some countries, according to the United Nations

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Violence against women
Head of U.N. Women Phumzile Mlambo-Ngcuka speaks on stage at WE Day U.N. at The Theater at Madison Square Garden, in New York City (VOA)

United Nations, September 21, 2017 : World leaders meeting at the United Nations on Wednesday launched a half-billion-dollar effort to end violence against women and girls, a crime suffered by 1 in 3 in their lifetimes.

The effort will fund anti-violence programs that promote prevention, bolster government policies and provide women and girls with improved access to services”, organizers said.

It will take particular aim at all categories of violence against women- human trafficking, femicide and family violence.

A third of all women experience violence at some point in their lives, and that figure is twice as high in some countries, according to the United Nations.

“Gender-based violence is the most dehumanizing form of gender oppression. It exists in every society, in every country rich and poor, in every religion and in every culture,” Phumzile Mlambo-Ngcuka, head of U.N. Women, said as the United Nations held its annual General Assembly.

“If there was anything that was ever universal, it is gender inequality and the violence that it breeds against women,” she said.

In other forms of violence against women and girls, more than 700 million women worldwide were married before they were 18, and at least 200 million women and girls have undergone female genital mutilation in 30 countries, according to U.N. figures.

The initiative of 500 million euros (US$595 million) was launched by the U.N. and the European Union, which is its main contributor, organizers said.

“The initiative has great power,” said Ashley Judd, a Hollywood actress and goodwill ambassador for the U.N. Population Fund (UNFPA) who participated in Wednesday’s announcement.

ALSO READ Violence against Women and Girls Imposes Large-scale Costs on Families, Communities and Economies, says UN Secretary-General Ban Ki-moon

“There are already so many effective, research-based, data-driven programs,” Judd told the Thomson Reuters Foundation ahead of the announcement. “Financing for existing programs is a beautiful thing.

“It also makes an incredibly powerful statement to show that the world is increasingly cohesive around stopping gender-based violence,” she said. (VOA)

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Akshaya Tritiya 2017: Here is Why it is of significance in Hinduism and reason behind people buying Gold on this day!

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A ritual in Hinduism, Pixabay

April 28, 2017: Also known as Akha Teej, Akshaya Tritiya is considered highly auspicious and holy day for people belonging to Hindu communities. According to Hindu Calander, it falls during Shukla Paksha Tritiya in the month of Vaishakha.

It is said that when Akshaya Tritiya falls on a Rohini Nakshatra day and on Wednesday, it is considered very auspicious. The term Akshaya (अक्षय) means never diminishing. Therefore, the benefits of doing rituals like any Japa, Yajna, Pitra-Tarpan, Dan-Punya on this day never diminish and remain with the person forever.

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Akshaya Tritiya is synonymous with good luck and success. There is a tradition of buying gold on this day as it is believed that buying Gold on on this occasion brings prosperity and more wealth in future. Being Akshaya day it is believed that Gold, bought on this day, will never diminish and would continue to grow or appreciate.

According to Hindu mythology, Lord Vishnu is believed to be the preserver God in the Hindu Trinity and it is believed that Akshaya Tritiya is a day is ruled by God Vishnu. It is said that Treta Yuga began on Akshaya Tritiya day.

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Usually, Akshaya Tritiya and Parashurama Jayanti is the birth anniversary of 6th incarnation of Lord Vishnu and falls on the same day but depending on starting time of Tritiya Tithi, Parashurama Jayanti might fall one day before Akshaya Tritiya day.

Vedic astrologers also consider Askshay Tritiya an auspicious day free from all malefic effects. As per Hindu Electional Astrology three lunar days, Yugadi, Akshaya Tritiya and Vijay Dashami don’t need any Muhurta to start or perform any auspicious work as these three days are free from all malefic effects.

– by Staff writer at NewsGram

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India-UK free trade agreement to be signed once it exits the European Union in 2 years Time

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European Union. Pixabay

New Delhi, March 28, 2017: With Britain set to launch the formal process of its exit from the EU on Wednesday, a prominent British entrepreneur has said that a joint working group of officials from both countries is working on an India-UK free trade agreement to be signed once it exits the EU in two years time.

“One of the very important steps forward of Theresa May’s (India) visit last November was that we now have a government-to-government working group with the Commerce Secretary and the International Trade Secretary in charge that is looking at the totality of the relationship,” Patricia Hewitt, Chair UK-India Business Council, told BTVi in an interview.

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“What I found since the referendum is the great enthusiasm on the part of India’s political and business leaders as well as Britain’s political and business leaders, for…it may be a free trade agreement…perhaps more accurately a comprehensive economic partnership. This was discussed further during Finance Minister Arun Jaitley’s very successful visit to London recently,” she said.

“And the aim there is not only to identify things that both governments could act on immediately even before Brexit actually happens, but also to lay the groundwork for a more formal agreement..a bilateral agreement that could happen once the UK actually leaves the European Union,” she added.

British Prime Minister Theresa May plans to trigger Article 50 – the step that starts the process of negotiations for Britain’s formal exit from the EU – on Wednesday.

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There is consequent uncertainty over what will happen once Britain leaves the EU because it needs to make new trade agreements with the rest of the world.

Indian Commerce Minister Nirmala Sitharaman had announced this joint working group last year following talks here with UK’s then Secretary of State for International Trade Liam Fox after Britain voted in a referendum to exit the EU.

Sitharaman said formal talks on a bilateral free trade agreement could only begin once the UK formally exited the EU.

Bilateral trade between the two countries stood at $14 billion in 2015-16, as compared to $14.33 billion in 2014-15. (IANS)