New Delhi, Nov 28: Gold prices climbed Rs 700 to Rs 1,30,160 per 10 grams in the national capital on Friday tracking firm trends in the global markets and strong investor appetite, according to marketmen.

The precious metal of 99.5 per cent purity jumped by Rs 700 to Rs 1,29,560 per 10 grams (inclusive of all taxes).

“Gold edged higher…supported by increasing expectations of a Federal Reserve rate cut in December,” Saumil Gandhi, Senior Analyst – Commodities at HDFC Securities, said.

He further stated that gold prices, during the week, have remained well-supported by renewed optimism over a potential Fed cut and a steady US dollar.

Silver prices also continued their upward march for the fourth straight session soaring by Rs 3,000 to Rs 1,71,200 per kilogram (inclusive of all taxes).

In the past four sessions, the white metal skyrocketed by Rs 16,200 from Rs 1,55,000 per kg on Monday.

In the international markets, spot gold went up by USD 12.44 , or 0.30 per cent, to USD 4,169.88 per ounce.

“Spot gold continues to remain well bid on rate cut expectations after recent dovish comments by the Federal Reserve officials,” Praveen Singh, Head of Commodities, Mirae Asset ShareKhan, said.

The dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.16 per cent higher at 99.75, capping gains for the yellow metal.

Sandip Raichura – CEO, Retail Broking and Distribution, PL Capital, said that gold will soon test the USD 4,400 level, which marks its all-time high. Continuing purchases by central banks, as well as dollar weakness, are leading to a strong support for gold at the USD 4,000 level.

Spot silver was trading 0.77 per cent higher at USD 53.81 per ounce, marking gains for the fifth straight day. In the session, the white metal rose to hit an intra-day high of USD 54.31 an ounce in the overseas market.

“Silver approaches towards its all-time high (USD 54.49 per ounce), with increased predictions that the US Federal Reserve would further lower interest rates,” Renisha Chainani, Head – Research at Augmont said.

She noted that Chinese inventories have fallen to decade lows, which has led to large exports to London to alleviate supply constraints. The reduction follows a spike in Chinese silver exports in October, which reached a record high of over 660 tonnes.

Jateen Trivedi, VP Research Analyst – Commodity and Currency, LKP Securities, said, “With US economic data yet to flow in after the government reopening, upcoming releases will be crucial for the Fed as it prepares for the final policy meeting of 2025 on December 10, where a rate cut is widely anticipated.”

New Delhi, Nov 28: India has launched a major humanitarian relief effort to assist Sri Lanka as the island nation reels from one of its worst weather disasters in recent years. At least 56 people have been killed and 21 remain missing after torrential rains triggered floods and landslides, with Cyclone Ditwah pushing severe weather further along the eastern coast.

In a message on X, Prime Minister Narendra Modi expressed condolences and announced India’s immediate assistance under a special humanitarian mission. “My heartfelt condolences to the people of Sri Lanka who have lost their loved ones due to Cyclone Ditwah. I pray for the safety, comfort and swift recovery of all affected families,” he wrote.

PM Modi said India had already dispatched vital relief materials and humanitarian assistance under Operation Sagar Bandhu, reaffirming New Delhi’s commitment to its neighbourhood. “In solidarity with our closest maritime neighbour, India has urgently dispatched relief materials and vital HADR support under Operation Sagar Bandhu. We stand ready to provide more aid and assistance as the situation evolves,” he said.

Reiterating India’s foreign policy approach, he added: “Guided by India’s Neighbourhood First policy and Vision MAHASAGAR, India continues to stand firmly with Sri Lanka in its hour of need.”

Operation Sagar Bandhu Begins

Confirming the launch of India’s relief mission, External Affairs Minister Dr. S. Jaishankar said on X: “Operation Sagar Bandhu commences. INS Vikrant and INS Udaygiri hand over relief material at Colombo. Further steps are underway.”

The Indian Navy has deployed its two newest warships, the INS Vikrant, India’s first indigenous aircraft carrier, and INS Udaygiri, an advanced frigate to Colombo. The vessels were already reaching Sri Lanka as part of the International Fleet Review (IFR) 2025, hosted to mark the 75th anniversary of the Sri Lanka Navy. Officials in Colombo warn that Sri Lanka could face more extreme weather in the coming days. With cyclones now striking regions rarely affected in the past, scientists say climate shifts across Southeast Asia may be accelerating. According to BBC reports, millions across the region risk displacement and economic disruption as weather systems intensify.

The visit by INS Vikrant and INS Udaygiri marks their first overseas operational deployment. Their participation in IFR 2025 was originally scheduled as a diplomatic and strategic outreach event. However, the humanitarian mission has now taken centre stage. Defence officials say the deployment underlines India’s growing role in maritime security and regional disaster response. INS Vikrant, described by the government as “a symbol of national pride”, has become the most prominent Indian naval platform to participate in a community outreach and humanitarian relief operation in recent years.

With Operation Sagar Bandhu under way, India has signalled its readiness to scale up support. More aid missions and relief packages are expected depending on the severity of Cyclone Ditwah in the coming days. As Sri Lanka braces for worsening weather, India has reiterated it will remain by its side. PM Modi’s message reflects this stance: “India continues to stand firmly with Sri Lanka in its hour of need.”

Leh, Nov 28: The Ministry of Home Affairs (MHA) has taken direct charge of high-value financial approvals in Ladakh, substantially reducing the financial autonomy previously held by the Lieutenant Governor (LG) and senior UT officials.

A fresh order signed by Lieutenant Governor Kavinder Gupta earlier this week realigns Ladakh’s financial governance, making New Delhi the final authority for most major developmental and infrastructure-related spending.

Under the earlier system, the LG and top officials in the Union Territory could independently sanction projects—including public–private partnerships—up to ₹100 crore. The revised rules now withdraw that authority, requiring that all such high-value proposals be examined and approved by the MHA.

Administrative secretaries, who previously enjoyed wider financial discretion, are now restricted to approving spending only up to ₹20 crore. Any proposal exceeding that limit must be forwarded to the Centre.

While technical officers—from Assistant Executive Engineers to Chief Engineers—retain their earlier approval limits (₹1 crore to ₹10 crore), contracts valued between ₹40 crore and ₹100 crore now require explicit clearance from the MHA.

Sectors including forestry, wildlife, and infrastructure development will also require central expenditure sanctions for major works, indicating deeper oversight across departments.

The new directive reinforces strict adherence to Codal procedures, procurement manuals, the General Financial Rules (GFR), and the Delegation of Financial Power Rules (DFPR).

Although the LG has retained the authority to approve proprietary or single-tender contracts up to ₹10 crore, such approvals must now be vetted in advance by the Finance Department.

Projects already sanctioned before the order will continue under the previous delegation framework. However, all new proposals must now be routed through the Planning Development Monitoring Department before being sent to the MHA for approval.

The notification states that the revised powers are exercised under Rule 12(3) of the Delegation of Financial Power Rules 2024 and remain subject to GFR, DFPR 2024, and subsequent instructions from the Centre.