Gold prices registered a marginal hike on Tuesday. The price of 22 carat of gold stood at Rs 46,300 per 10 grams as against its previous close of Rs 46,190. Meanwhile the price of 24 carat of gold was also trading lower. The price of 24 carat of gold stood at Rs 50,510 as against its previous close of Rs 50,390.

Gold fell on Thursday to their lowest in nearly a year, as an elevated U.S. dollar and prospects of more interest rate hikes by major central banks to combat soaring inflation weighed on bullion's appeal. Spot gold was down 0.2% at $1,693.90 per ounce by 0052 GMT, after falling to its lowest since early August 2021 at $1,691.40 in early Asian trade. U.S. gold futures fell 0.5% to $1,692.10 per ounce, said a Reuters report.

he Income Tax department has conducted raids on around 40 establishments linked to Madhusudan Ghee in Mumbai, Maharashtra. The company is also invested in the power and dairy industries in Uttar Pradesh.

India’s leading banker and SBI Chairman Dinesh Kumar Khara is of the view that an artificial intervention does not have a long-term impact and it doesn’t work. On Tuesday, the rupee breached the 80 mark to a dollar for the first time.

Speaking to media, Khara said, “I think that it (intervention by central bank) really doesn’t work.... Artificial intervention does not really have any long-term impact, it can only have a temporary impact.”

He, however, added that we should instead focus on balance of trade. "As compared to that, I would say that, if at all the balance of trade is in our favour, that will perhaps work better."

Incidents of technical snag in airlines seem to be increasing by the day and they are not restricted to domestic carriers but includes global airlines as well.

On Sunday IndiGo’s Sharjah-Hyderabad flight was diverted to Karachi as a precaution after pilots observed defect in one of the engines, officials of the Directorate General of Civil Aviation said.

In another incident which occurred on Saturday, Air India Express’s Calicut-Dubai flight was diverted to Muscat after a burning smell was observed in cabin mid-air, the DGCA stated.

Hindustan Zinc will invest $1 billion in next five years to make its mining operations environment-friendly.

As part of the plan, the company, with the aim of becoming a net-zero entity by 2050, has already initiated the process of converting all its mining equipment into battery-operated electric vehicles (EVs) in a phased manner.

HZL is a subsidiary of Vedanta Limited, which owns a 64.9% stake in the company, while the government holds a 29.5% stake. HZL currently holds around 80% share in India’s primary zinc market.