Gold price today, March 3, stood at around Rs 51,788 on Multi Commodity Exchange (MCX), with a jump of close to 1% in the backdrop of the Russia-Ukraine war and rising oil prices. 

Following the sharp rise, the prices of yellow metal soared in almost all major cities in the country. For instance, the price of gold was up by Rs 10,000 per 100 grams on Thursday (March 3), in all cities of the country, according to a report by Good Returns. 

In Delhi, the gold price jumped by Rs 271 to Rs 51,670 per 10 grams in line with strong international precious metal prices and rupee depreciation, according to HDFC Securities.

Although several countries have banned cryptocurrency, the decentralised money has become a mainstream component of the global financial system. This means that it will inevitably become a part of international conflict, for better or worse and as Russian armies enter Ukraine, this is on full show.

As the war with Russia rages on, Ukrainian officials urged netizens on Twitter to send cryptocurrency. Since then, according to reports, cryptocurrency investors have given the Ukrainian government and a foundation backing the country’s military, more than $22 million in digital assets.

The turmoil in Ukraine has brought the burgeoning industry under increased attention, with politicians and regulators concerned that the cryptocurrencies could be used by Russian firms and government officials to circumvent sanctions. However, as more traditional crowdfunding techniques face challenges, cryptocurrency has created a way for investors all across the world to quickly shift funds to Ukrainian soldiers.

The central government is likely to review the timing of launching the initial public offering (IPO) of LIC amid the ongoing war between Russia and Ukraine, Finance Minister Nirmala Sitharaman has said.

In an interview with media, FM Sitharaman said, "When I last commented on this matter, the tension was building up. Now there’s a full-scale war. Therefore, I need to go back and review the situation."

She said 'ideally' the government would like to go ahead with the much awaited mega IPO. However, if global circumstances demand, the FM said she won't hesitate to look into it again.

India's GDP growth slowed down to 5.4 percent in October-December 2021 from 8.5 percent in the previous quarter, data released on February 28 by the Ministry of Statistics and Programme Implementation showed.

The statistics ministry also said India's GDP will likely grow by 8.9 percent in FY22, down from its first advance estimate of 9.2 percent, released in early January 2022.

The GDP growth rate of 5.4 percent for the third quarter of FY22 is below expectations. As per a Moneycontrol survey, the GDP was seen rising by 6.2 percent on a year-on-year basis last quarter.

The government has informed the Supreme Court that Rs 18,000 crore have returned to banks from Vijay Mallya, Nirav Modi, and Mehul Choksi.

The Supreme Court bench, headed by Justice A M Khanwilkar and comprising Justices Dinesh Maheshwari and C T Ravikumar, is dealing with a batch of petitions concerning the interpretation of certain provisions of the Prevention of Money Laundering Act (PMLA).

Solicitor General Tushar Mehta told the bench that in money laundering cases relating to Vijay Mallya, Mehul Choksi, and Nirav Modi, the Enforcement Directorate has confiscated around Rs 18,000 crore by the orders of the courts following due procedure.