Global central banks have been on a gold buying spree for quite sometime now. The Reserve Bank of India for instance, has accumulated 19 tonnes of gold in just 3 months in 2024. Ever since the US imposed sanctions on Russia, gold accumulation has gained momentum across the globe. But there are other reasons too. Watch the video to know more.

Global central banks have been on a gold buying spree for quite sometime now. The Reserve Bank of India for instance, has accumulated 19 tonnes of gold in just 3 months in 2024.

Why are central banks on gold buying spree?

Fair trade regulator CCI has dismissed allegations of abuse of dominance against Coal India concerning its e-auction scheme introduced in December 2022, ruling that the state-owned company had not violated norms.
Coal India Ltd (CIL), a Maharatna public sector undertaking under the Ministry of Coal, is the single-largest coal producing company in the world.
"In view of the... facts and circumstances of the present matter, the commission is of the view that there is no prima-facie case of contravention of provisions of the act warranting an investigation into the matter," Competition Commission of India (CCI) said in a order on December 30.
The case, filed by a Kolkata-based individual, claimed that Coal India's 2022 e-auction scheme replaced its earlier spot e-auction scheme 2007 with terms allegedly unfair to buyers, the order said.
The individual argued that the scheme's conditions, such as requiring advance bid security and forfeitures without reciprocal obligations on CIL, ...

The case, filed by a Kolkata-based individual, claimed that Coal India's 2022 e-auction scheme replaced its earlier spot e-auction scheme 2007 with terms allegedly unfair to buyers

Adani Wilmar, which sells edible oils and other food items, on Saturday reported a 6 per cent annual growth in sales volumes and a 33 per cent increase in revenue in the December quarter.
Adani Wilmar, established jointly by Adani Group and Singapore Wilmar Group in 1999 markets its products mainly under Fortune brand.
Adani Group recently announced its exit from the joint venture by divesting its entire 44 per cent stake to Wilmar group as well as open market sale.
In a regulatory filing on Saturday, Adani Wilmar said the company "achieved a healthy volume growth of 6 per cent year-on-year in Q3 (December quarter), despite significant price hikes driven by surge in raw material costs".
Revenue grew 33 per cent year-on-year, it added.
"In the edible oils segment, although there was downtrading among consumers, the company maintained its market share by its strategy of having a diverse portfolio of brands at various price points," Adani Wilmar said.
The company reported 4 per cent

Adani Group recently announced its exit from the joint venture by divesting its entire 44 per cent stake to Wilmar group as well as open market sale

ISRO on Saturday said the cowpea seeds it had sent to space onboard the PSLV-C60 POEM-4 platform have germinated under microgravity conditions within four days of the launch of the mission.
The space agency sent eight cowpea seeds as part of the Compact Research Module for Orbital Plant Studies (CROPS) experiment conducted by the Vikram Sarabhai Space Centre (VSSC) to study plant growth in microgravity conditions.
"Life sprouts in space! VSSC's CROPS experiment onboard PSLV-C60 POEM-4 successfully sprouted cowpea seeds in 4 days. Leaves expected soon," ISRO said in a post on X.
The PSLV-C60 mission placed two SpaDeX satellites in orbit on the night of December 30. The fourth stage of the rocket carrying the POEM-4 platform has been orbiting the earth with 24 onboard experiments at an altitude of 350 km since Tuesday.
The CROPS experiment aims to understand how plants grow in the unique conditions of space, which is essential for future long-duration space missions.
The experiment 

The CROPS experiment aims to understand how plants grow in the unique conditions of space, which is essential for future long-duration space missions

With Assembly elections in Delhi due in February, political parties are using Artificial Intelligence to churn out creative ads and visuals -- projecting their leaders as heroes and targeting rivals with sharp jibes.
From calling its supremo Arvind Kejriwal the "GOAT" (Greatest of All Time) to portraying him as "Delhi ka Beta" (Son of Delhi), the ruling Aam Aadmi Party (AAP) is creatively leveraging Artificial Intelligence (AI) in its campaigns.
On the other hand, the BJP is labelling Kejriwal as the "Original Mahathag" (master conman) in AI-generated videos and posters.
In one instance, a scene from Amitabh Bachchan's movie "Baghban", which depicts parents enduring neglect from their children despite their sacrifices, was modified with AI to feature Kejriwal, emphasising that "Delhi ka Beta" will never abandon the people.
Delhi BJP's X handle also has multiple ad clips, including videos featuring Kejriwal and Chief Minister Atishi.
In one such video, Atishi is shown praising Kejr

The X platform has become a battleground for political parties, where they are using twists and turns to attract voters

Special camps are being set up for beneficiaries to avail 'Sasta Ghar' scheme of the DDA which was approved by the Lieutenant Governor VK Saxena last week, an official statement said on Saturday.
The LG secretariat has written to the Chief Secretary to get special camps organised by concerned departments to make it convenient for beneficiaries to avail the recently announced Housing Scheme of the DDA, wherein certain sections will be able to avail buy houses at a discount of 25 per cent, the statement said.
The identified categories include construction and other workers, auto/tax drivers, women, Vir Nari, ex-servicemen, divyangjans, gallantry and Arjun awardees and people belonging to scheduled caste/scheduled tribes category, it said.
Accordingly, special camps will be launched by Delhi Building and other Construction Welfare Boards of construction sites of DMRC, NCRTC, CPWD, NHAI and other locations in a decentralised manner to avail this scheme and also for rolling out other ...

The LG secretariat has written to the Chief Secretary to get special camps organised by concerned departments to make it convenient for beneficiaries

A city civil court here on Saturday granted bail to engineer Atul Subhash's wife Nikita Singhania, her mother Nisha Singhania and brother Anurag Singhania in suicide abetment case.
The 34-year-old techie ended his life on December 9 in Bengaluru, alleging harassment at the hands of his estranged wife and her family.
According to the prosecution, the three accused appeared before the court.
Subhash had alleged that his in-laws had pressurised him to pay Rs three crore for divorse.
Based on his 40-page suicide note and a one-and-half hour video explaining the situation that drove him to take the drastic step, the police booked the trio, arrested them and brought them from Uttar Pradesh to Bengaluru.

The 34-year-old techie ended his life on December 9 in Bengaluru, alleging harassment at the hands of his estranged wife and her family

Apparel exporters body AEPC on Saturday urged the government to announce tax incentives, including removal of a provision requiring payments to MSMEs within 45 days to claim deductions and customs duty exemption on garment machinery imports.
The Apparel Export Promotion Council (AEPC) has also requested that an  interest equalization rate of 5 per cent be announced in the Budget, scheduled to be unveiled on February 1 by Finance Minister Nirmala Sitharaman.
Other demands include extension of concessional tax rate for new manufacturing units to encourage setting up of new garment units; simplification in the procedure of imports of trims and embellishments under IGCR (Import of Goods at Concessional Rate); and liberalizing e-commerce export procedures.
"Ready Made Garments (RMG) industry has also demanded removal of Sec43B (H) of IT Act in the ensuing Budget which pertains to payment to any MSME companies within a maximum 45 days' time to claim any deduction in tax. This has increase

The Apparel Export Promotion Council (AEPC) has also requested that an interest equalization rate of 5 per cent be announced in the Budget, scheduled to be unveiled on February 1

Experts feel despite government efforts there has been a lag in capex pick up but there is a good case for continued push towards such expenditure

Russia-Ukraine War

The year 2022 is coming to an end and a lot has happened that shaped the world in the year. Let's have a look at some of these significant events

Google Messages

In January, Google rolled out end-to-end encryption in group chats for messages app users enrolled in the beta programme

Blend launches Blend Studio: AI tool for ecommerce photography

New Delhi [India], March 16 (ANI/PNN): Blend, an AI-powered design and photography application for DTC brands and ecommerce sellers, recently launched Blend Studio - the Chat GPT for product photos.

Celebrity and Travel Photographer Rahul Lokare from Flamingo Productions creates waves of change in the world of photography.

Xiaomi 13 Pro

Priced at Rs 79,999 for the 12GB RAM and 256GB on-board storage, the Xiaomi 13 Pro offers a novel imaging experience on top of a premium package

Why are central banks on gold buying spree?

Explore News