Rush Hour: Gold and silver prices surge after import duties hiked, Assam to introduce UCC and more

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After the Union government increased import duties on gold and silver on Tuesday, the prices of the precious metals surged sharply in the domestic markets on Wednesday. Gold futures on the Multi Commodity Exchange rose by nearly 6% to reach Rs 1.62 lakh per 10 grams and silver futures jumped by more than 6% to Rs 2.96 lakh per kg.

Meanwhile, the rupee closed at a record low of 95.7 against the dollar. The currency touched its lowest-ever intraday level of 95.8, weakening for the fourth consecutive session.

On the other hand, the Indian stock market rose marginally, with the benchmark Sensex increasing by 0.07% to 74,608.9 at closing. The NSE Nifty50 rose by 0.14% to 23,412.6. Read on.

Modi’s austerity appeals are a misplaced solution for India’s economic woes, writes Freddy Thomas

Air India will temporarily suspend its services on certain international routes from June to August. This decision was taken against the backdrop of airspace restrictions over some regions and record-high prices of jet fuel, stated the airline.

Among the routes that will be disrupted are Delhi-Chicago and Mumbai-New York. Flights...

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