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The prices of both gold and silver metals have fallen in the past week. Despite the festive season, the decline in gold and silver prices has been observed. On Friday, the last trading day of the previous week, on this day, the gold price of December futures fell by Rs 165 to Rs 50,547 per 10 gram on the MCX exchange. Besides, gold futures on February 5, 2021 fell by Rs 132 to close at Rs 50,629 per 10 grams on the last day of the week. Let us now know how much the difference between gold and silver prices has taken place this week.
Gold fell last week
December futures gold opened at Rs 50,940 per 10 grams on MCX on Monday, October 12 on the first trading day of the previous week. In the previous session, the gold had closed at Rs 50,817 per 10 grams. In this way, the price of this gold has fallen by Rs 270 per 10 grams last week.
Along with gold, silver prices have also fallen in the past week. Silver futures price of December futures closed at Rs 61,676 per kg on MCX on Friday, the last trading day of the previous week. The silver price opened at Rs 63,839 per kg on MCX on Monday, October 12, the first trading day of the week. In the previous session, it had closed at Rs 62,884 per kg. In this way, the price of this silver has dropped by Rs 1,208 per kg last week.
Gold is so far away from its previous high level
The festive season has arrived. Lockdown restrictions are also on the verge of being lifted in the country, but the rise in demand due to the demand for gold is not visible. The current gold prices are far from their previous highs. The previous high level of gold price was seen on August 6, 2020. In this session, gold for December futures closed at Rs 56,015 per ten gram. If we compare it with the current price, this gold is Rs 5,468 per ten grams away from its previous high.
Silver also falls drastically compared to previous high
Like gold, the current silver prices are well below their previous highs. The previous high level of silver was seen on 10 August 2020. In this session, silver for December futures closed at Rs 78,256 per kg. Comparing this price with the current price, the silver is down by Rs 16,580 per kg.
Global gold prices
Talking about gold prices globally, it closed with a fall on the last trading day of the last week. According to Bloomberg, the December futures of gold on Friday closed down 0.13 percent or $ 2.50 at $ 1,906.40 an ounce on Comex. At the same time, the global spot price of gold fell 0.49 percent or $ 9.42 to close at $ 1899.29 an ounce on this day.
Silver price globally
Talking about silver prices globally, according to Bloomberg, the global price of silver in December futures closed at $ 24.41 an ounce, a rise of 0.75 percent or $ 0.18 on the last trading day of the week on COMEX. At the same time, the global spot silver prices fell by 5.59 percent, or $ 0.14, to close at $ 24.16 an ounce.
In a shocking development, YouTuber Praneeth Hanumanthu has become embroiled in controversy following his detention by the Telangana Cyber Security Bureau. Initially arrested for making offensive remarks during a podcast, Hanumanthu's predicament has escalated, resulting in further allegations under the Narcotic Drugs and Psychotropic Substances (NDPS) Act after he tested positive for cannabis consumption. The Context of the Detention The origins of Hanumanthu's difficulties can be linked to a podcast he hosted, which included a conversation that many considered highly unseemly. During this episode, he made inappropriate comments regarding the dynamics between a father and daughter, igniting outrage among viewers and critics alike. This incident quickly garnered the attention of both the public and law enforcement, prompting an investigation by the Telangana Cyber Security Bureau. The primary allegation centered around his remarks, which were deemed to have crossed the boundaries of acceptable discourse. This scenario raises broader inquiries about accountability and the duties of content creators, particularly in an era where online platforms can amplify messages to a large audience. As a public figure, Hanumanthu's statements carry substantial weight, and the backlash he has encountered signifies society's increasing intolerance towards harmful rhetoric. Charges Related to Substances Things took a turn for the worse for Hanumanthu when, following his arrest, authorities opted to perform a drug test. The results confirmed the presence of cannabis in his system, leading to additional allegations under the NDPS Act. This legislation is a strict law in India aimed at combating substance abuse and trafficking. By testing positive for drug use, Hanumanthu not only worsened his legal troubles but also further tarnished his reputation. The addition of drug-related charges initiates an important discourse about the effects of substance use among influencers and celebrities. Many young individuals look up to figures like Hanumanthu, and such disclosures can have significant consequences on their perceptions and behaviors. The fallout from his actions extends beyond legal issues; it also encompasses the ethical obligations that accompany public visibility. Reactions from the Public and Consequences The public’s reaction to Hanumanthu's arrest has been varied. Many viewers voiced their outrage over both his initial remarks and his later substance use. Social media has been inundated with discussions, memes, and criticisms, illustrating the swift spread of information and opinions in today’s digital environment. Critics contend that individuals like Hanumanthu should be held accountable for their influence, particularly when it concerns endorsing a healthy lifestyle and responsible behavior. On the other hand, some supporters have rallied behind him, advocating for the necessity of empathy and understanding. They highlight the pressures that accompany being a public figure, especially in a hyper-connected world where every action is scrutinized. This divide in public sentiment mirrors a broader societal conversation about celebrity culture, accountability, and the intricacies of mental health and substance use. The Wider Picture of Substance Abuse Hanumanthu's situation is also part of a larger discourse regarding drug abuse in India, especially among the youth. As discussions about mental health and substance use become more widespread, incidents like this underscore the pressing need for awareness and education about addiction and its root causes. The stigma surrounding drug use often hampers open dialogue about the topic, leaving many to endure in silence. Moreover, the legal implications of the NDPS Act spark questions about how society addresses drug-related offenses. While the act aims to deter substance abuse, critics argue that such laws can disproportionately impact certain demographics and do not tackle the underlying causes of addiction. Conversations around harm reduction, rehabilitation, and public health strategies are increasingly relevant within the framework of these laws. Prospects Ahead for Hanumanthu As Hanumanthu navigates the forthcoming legal hurdles, his future remains unpredictable. He faces possible legal repercussions for both his unsatisfactory comments and his substance use, which could greatly affect his career and personal life. The scenario serves as a cautionary example for content creators about the consequences of their expressions and actions, highlighting the need for thoughtful engagement with their audience.…
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