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₹1,000 per 10 gram from highs

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Gold prices in India edged higher today after suffering a big fall in the previous session. On MCX, gold futures were up 0.4% to ₹46,853 per 10 gram.

In the previous session, gold had hit a record high of ₹47,980 but could not sustain the gains, ending 1.5% or ₹705 lower. Silver prices edged lower today with futures on MCX down 0.14% to ₹47,633 per kg.

Gold prices in India include 12.5% import duty and 3% GST. India imports most of its gold requirements. In global markets, gold prices inched higher today, supported by US-China tension and worries about the economic impact of coronavirus crisis.

However, some positive news from an early-stage trial for a coronavirus vaccine helped improve global risk sentiment and capped gold's rise.

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The economy is recovering, says President during meeting with professionals
COLOMBO (News 1st); President Gotabaya Rajapaksa said that the nature or extent of the challenges will not matter in fulfilling the promises made to the people.He noted that development activities continue in the country while taking necessary steps to control the COVID-19 pandemic.The President also pointed out that the economy, which had been collapsed for nearly two years, is gradually recovering.The President made these remarks participating in the first round of discussions in a series of sessions with professionals representing various fields, held at the President’s House on Friday (11).The professionals who participated in the discussion said that they are further committed to make the national programme a success by giving the necessary strength to achieve the goals desired by the President, said a statement.The professionals vehemently rejected the allegations spread by some sections with the objective of achieving narrow political agendas, the statement added.Experts in the field said that the new approach to agriculture initiated by the President is being continuously supported by the researchers and entrepreneurs who are engaged full time in these fields, further noted the statement.Representatives from a wide range of fields, including education, policy, sociology, agriculture, research, water and renewable energy, medical, engineering and innovation, were present at the discussion with the President.Ministers, State Ministers, Members of Parliament, the Governor of the Central Bank, the Secretary to the President, the Principal Advisor to the President and many others were also present.
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