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Gold extends gain for 2nd straight day, climbs Rs 500 per 10 g; silver trades flat

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Silver rallies to hit fresh peak, gold gains Rs 540 as Israel-Iran conflict intensifies

New Delhi, July 02: Gold prices jumped Rs 500 to Rs 99,170 per 10 grams in the national capital on Wednesday, tracking heavy global buying amid renewed concerns over US tariffs.

According to the All India Sarafa Association, the precious metal of 99.9 per cent purity had ended Rs 1,200 higher at Rs 98,670 per 10 grams on Tuesday.

The yellow metal has gained Rs 1,700 per 10 grams in the two consecutive sessions.

Gold of 99.5 per cent purity climbed Rs 450 to Rs 98,600 per 10 grams (inclusive of all taxes). It had settled at Rs 98,150 per 10 grams on the previous trade.

“Gold began the July-September quarter on a bullish footing, with the recent retreat from June highs driven solely by fading geopolitical risk premium following the Iran-Israel ceasefire.

“Central banks bought over 50 tonnes of gold in June, led by China and Turkey, while gold ETFs saw renewed inflows, especially in Europe amid trade tensions,” Abhilash Koikara, Head FX & Commodity at Nuvama Professional Clients Group, said.

However, silver prices remained flat at Rs 1,04,800 per kilogram (inclusive of all taxes) on Wednesday.

Gold was “buoyed by safe haven demand amid concerns surrounding the fiscal implications of US President Donald Trump’s sweeping tax and spending cut bill, which has further supported gold prices,” Saumil Gandhi, senior analyst – commodities at HDFC Securities, said.

Spot gold in the global markets went up marginally to USD 3,342.44 per ounce.

“Gold is holding steady near the USD 3,350 level amid renewed trade tensions as President Trump said he is not considering an extension and will not delay the July 9 deadline for the reciprocal tariff rates on trading partners,” Kaynat Chainwala, AVP -commodity research at Kotak Securities, said.

According to Abans Financial Services’ Chief Executive Officer Chintan Mehta, investors will be awaiting US labour data, with the ADP employment report due later in the day and the non-farm payrolls and unemployment rate on Thursday.

These data release will offer cues on the US Federal Reserve’s next move. Crude oil inventory data, due later in the day, will also be monitored by market participants for signs of inflation, Mehta said.

Greater Kashmir

Bangladesh’s deposed PM Hasina sentenced to six months in contempt case

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Bangladesh's deposed PM Hasina sentenced to six months in contempt case

Dhaka, July 02: Bangladesh’s deposed prime minister Sheikh Hasina was on Wednesday sentenced to six months in prison by the International Crimes Tribunal in a contempt of court case, according to media reports.

A three-member panel of the tribunal-1 (ICT), led by Justice Md Golam Mortuza Mozumder, passed the order after reviewing a leaked phone conversation involving the ousted Awami League leader that circulated on social media last year, The Daily Star newspaper reported.

It marks the first time that 72-year-old Hasina has been sentenced in any case since she left office in August last year.

In the audio clip, the ousted premier is allegedly heard telling former Gobindaganj upazila chairman and banned Bangladesh Chhatra League (BCL) leader Shakil Akand Bulbul, “I have had 227 cases filed against me, so I have received a licence to kill 227 people.”

The tribunal considered the statement contemptuous and a direct attempt to undermine the court.

The tribunal also convicted and sentenced Bulbul to two months’ imprisonment, the state-run BSS news agency reported.

In its judgment, the tribunal said the sentences would come into effect from the day of their arrest or surrender, it added.

Hasina faces multiple cases in Bangladesh after being ousted on August 5 last year following a major student-led agitation in the country, which forced her to flee Dhaka.

After Hasina’s ouster, the 84-year-old Nobel laureate Muhammad Yunus took over as the head of an interim government in Bangladesh in August last year.

Most leaders of the Awami League and ministers of the past regime, including several officials, were arrested or were on the run at home and abroad as the government initiated their trial for brutal actions to tame the uprising, leaving several hundred people, including students, dead.

Hasina and her regime leaders are being prosecuted in Bangladesh’s International Crimes Tribunal, formed in 2010 for trying hardened collaborators of Pakistani troops during the 1971 Liberation War on charges like crimes against humanity.

Greater Kashmir

Summer vacations for colleges extended till Sunday: Education Minister Sakina Itoo

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Summer vacations for colleges extended till Sunday: Education Minister Sakina Itoo

Srinagar, July 02: Amid the ongoing heatwave across the valley, Education Minister Sakina Itoo on Wednesday announced the extension of summer vacations for colleges till Sunday, while adding that a review is underway regarding extension in school vacations.

Speaking at an official function, the Minister Sakina Itoo as per news agency JKNS said, “As summer vacations for colleges are nearing their end, we have decided to extend them till Sunday due to the prevailing heatwave.”

She said the government is actively monitoring weather conditions before taking any final call on reopening schools. “As far as vacations for schools are concerned, we will review the situation soon, keeping the weather forecast in view,” she said.

Summer vacations for colleges were earlier scheduled to end on July 4, while for schools they are set to end on July 7.

Greater Kashmir

State Taxes Deptt raids business entities across Kashmir for fraudulent Input Tax Credit (ITC) practices

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State Taxes Deptt raids business entities across Kashmir for fraudulent Input Tax Credit (ITC) practices

Srinagar, July 02: In an effort to safeguard public revenue and ensure compliance with the Goods and Services Tax (GST) regime, the State Taxes Department, Kashmir, today conducted massive raids on business entities involved in fraudulent Input Tax Credit (ITC) practices across the Valley. The “meticulously planned” raids unearthed significant instances of tax fraud, officials said

According to a press release issued to Greater Kashmir, “the raids were initiated based on credible intelligence inputs pointing to widespread misuse of ITC provisions, particularly in Kashmir, where certain commodities such as iron, cement and steel have been identified as highly susceptible to tax evasion. The investigation cell of the State Taxes Department conducted thorough research over the past 30 days to identify entities involved in generating fake invoices and passing ineligible ITC. The department’s proactive approach was driven by a “reason to believe” that fraudulent practices were causing substantial revenue losses to the exchequer.”

“The investigation zeroed in on sectors such as iron, cement and steel and other high-value commodities known for their vulnerability to tax evasion. These sectors have been exploited through fake billing and shell companies to fraudulently claim ITC without actual supply of goods or services in violation of the Act and rules. The State Taxes Department’s enforcement team, under the strategic guidance of Additional Commissioner Kashmir Parveez Ahmad Raina (JKAS), worked tirelessly to map out the complex web of transactions and pinpoint the perpetrators. The crackdown was proposed and executed under the leadership of Commissioner State Taxes J&K P.K. Bhat (JKAS).”

It reads that the operation comprised seven specialized teams, properly trained and adequately equipped, each led by a State Tax Officer (STO) and supported by a dedicated team of inspectors and Sub-Inspectors. These teams were tasked with conducting simultaneous raidsin the early hours of July 02, 2025 across multiple locations across North Kashmir, targeting businesses and individuals suspected of orchestrating fake ITC rackets. The enforcement teams, equipped with evidence and intelligence gathered through thorough analysis, targeted firms involved in issuing fraudulent invoices.

The success of this raid is a testament to the relentless efforts of the State Taxes Department’s investigation cell. Over the past month, the team cross-referenced GST returns, and conducted physical verifications to identify discrepancies in ITC claims. The team’s efforts were lauded by Commissioner P.K. Bhat, who emphasized, “Such consistent action reinforces the department’s resolve to protect public revenue and uphold tax discipline.”

The underlying aim is to create a robust and transparent tax regime, deterring fraudsters from exploiting loopholes and encouraging honest taxpayers to contribute to the region’s economic progress. The State Taxes Department remains steadfast in its mission to combat tax evasion and protect public revenue. Additional Commissioner Parveez Ahmad Raina praised the enforcement teams for their “focused and result-oriented efforts,” urging taxpayers to strictly adhere to GST regulations and avoid malpractices, it added.

Greater Kashmir

ICMR-AIIMS studies find no connection between Covid vaccines and sudden deaths: Health Ministry

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Two Covid-linked deaths in Maharashtra, govt urges citizens not to panic

Srinagar, July 2: Post the Covid pandemic several cases of heart attack-related death among people, especially the young were reported from across the country, and suggested a link with Covid vaccinations.

The ministry cited extensive studies conducted by the Indian Council of Medical Research (ICMR) and All India Institute of Medical Sciences (AIIMS) on sudden deaths among adults post-C to make that claim.

“Extensive studies by ICMR (Indian Council of Medical Research) and AIIMS on sudden deaths among adults post-COVID have conclusively established no linkage between COVID-19 vaccines and sudden deaths. Studies by ICMR and the National Centre for Disease Control (NCDC) have affirmed that COVID-19 vaccines in India are safe and effective, with extremely rare instances of serious side effects,” the ministry said in a statement.

The statement clarified that sudden cardiac deaths can occur due to various factors, including genetics, lifestyle, pre-existing conditions, and post-C complications.

The first study, led by ICMR’s National Institute of Epidemiology (NIE), investigated unexplained sudden deaths among adults aged 18 to 45 across 47 tertiary hospitals in 19 states and Union Territories between May and August 2023. It focused on seemingly healthy individuals who died suddenly between October 2021 and March 2023. According to the Health Ministry, the study clearly found no link between Covid-19 vaccination and increased risk of sudden death in young adults.

A second study, currently underway by AIIMS New Delhi in collaboration with ICMR, is examining the common causes behind sudden deaths in young adults.

The recent case of Shefali, 42-year-old actor  who collapsed at her home on Friday night. Her husband, television actor Parag Tyagi, immediately rushed her to Bellevue Multispeciality Hospital in Andheri, where doctors declared her brought dead. Initial reports suggest a possible cardiac arrest. Her body was later moved to R.N. Cooper Hospital in Juhu for a post-mortem examination.

A rise in sudden cardiac deaths among young individuals since 2020 has sparked public concern, with many speculating a link to Covid-19 vaccines. Recent studies aim to address these fears and provide clarity based on scientific evidence.

Greater Kashmir

Japan Airlines’ Boeing 737 plummets sharply, Passengers wrote goodbye letters 

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Japan Airlines' Boeing 737 plummets sharply, Passengers wrote goodbye letters 

Srinagar, July 3: Panic ensued on a Japan Airlines Boeing Dreamliner 737 on Monday when the plane suddenly plummeted nearly 26,000 feet. The scary episode apparently led passengers to write goodbye letters to loved ones and details of their finances, fearing they would not survive. People on the plane recalled that there was a boom, and after that, oxygen masks fell off within a few seconds. The flight attendants started shouting, asking everyone to put on their oxygen masks. The incident comes after 241 people died in the Air India crash in Ahmedabad, which also involved a Boeing Dreamliner 787.

According to a report by the Associated Press, the aircraft encountered a sudden mechanical failure mid-flight, prompting a rapid descent from around 36,000 feet to just under 10,500 feet in less than 10 minutes. The incident occurred at approximately 6:53 PM local time.

Boeing planes have come under intense scrutiny since the Ahmedabad plane crash of last month.

The abrupt loss in cabin pressure triggered the release of oxygen masks, heightening panic among passengers who feared the plane might crash. Some worried the drop in pressure could cause passengers to lose consciousness.

“I heard a muffled boom, and within seconds the oxygen masks dropped down. One of the flight attendants was crying and shouting for us to put on the masks, saying the plane had suffered a malfunction,” a passenger said as per reports.

Japan’s Ministry of Land, Infrastructure, Transport and Tourism issued a statement regarding the mid-air incident, stating that passengers were asleep when the aircraft experienced a sudden drop, jolting them awake. The plane’s pressurisation system triggered an emergency alert, causing oxygen masks to deploy automatically. Panic broke out on board as some passengers reported difficulty breathing, and the cabin crew grew concerned that individuals might lose consciousness.

 

 

 

 

 

 

Greater Kashmir

JKCSF demands immediate action against illegal mining in Ferozpora Nallah

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JKCSF demands immediate action against illegal mining in Ferozpora Nallah

Srinagar, July 02: The Chairman of the Jammu & Kashmir Civil Society Forum (JKCSF), Mr. Abdul Qayoom Wani, expressed deep anguish over the rampant and illegal mining of the Ferozpora Nallah at Kachmatipora, Soiepora, and Ogmuna. He stated that the unregulated extraction is causing irreversible ecological damage, while the concerned departments remain silent spectators.

In a statement issuaed to the Greater Kashmir, the JKCSF chairman said, “Despite the worsening ground situation and repeated cries from the local population, Flood & Irrigation, Environment, Agriculture, and Horticulture Departments have failed to act, raising serious concerns of negligence or silent complicity.”

“The area has turned into a hub of loot where natural resources are being ravaged in broad daylight. This is nothing less than ‘bajri terrorism’ — a systematic plunder of riverbeds that threatens agricultural lands, horticultural balance, and the overall ecology,” he added.

He said, Local residents are suffering gravely due to drying water sources, soil degradation, crop damage, disrupted irrigation, and hazardous conditions created by overloaded trucks and heavy machinery. Farms are turning barren and environmental balance is collapsing.

Wani said, the JKCSF strongly demands: A time-bound probe into illegal mining activities; immediate suspension of all ongoing extraction in the affected regions; accountability of officials and contractors involved; restoration measures to revive the damaged river ecology; and formation of a community oversight committee to prevent future violations.

JKCSF warned that if authorities continue to turn a blind eye, civil society may be forced to launch peaceful public demonstrations across the region to protect the natural wealth and livelihoods of the people.

Greater Kashmir

Sabotage angle being probed in Ahmedabad plane crash: Union Minister

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Aviation Minister Ram Mohan Naidu assures "fair and thorough" investigation into Ahmedabad plane crash

Srinagar, July 2: Minister of State for Civil Aviation, Murlidhar Mohol, stated that the Aircraft Accident Investigation Bureau (AAIB) is examining all possible angles—including sabotage—in the Air India plane crash that killed 274 people on board and on the ground in Ahmedabad last month.

He also confirmed that the black box from flight AI 171 has been recovered and is currently in the custody of the AAIB. “It will not be sent abroad for analysis; all assessments will be conducted within the country,” he added.

Officials said the aircraft lost altitude soon after taking off at around 1.30pm. It crashed into the residential quarters of BJ Medical College doctors in Meghaninagar area before going up in flames, sending plumes of thick black smoke spiralling up in the air.

Besides the crash, the minister spoke on issues such as 419 technical vacancies in the DGCA, the alleged exploitation of pilots by private airlines and on means to make air travel cheaper.

“The DGCA will soon begin working on the issue of technical vacancies,” he said.

Asked if private airlines can make key appointments on their own, he said: “No appointments can be made without the DGCA’s approval. Private airlines cannot take whoever they want. You need certain qualifications, etc.”

Murlidhar Mohol  said that the black boxes recovered from the crash site are in the custody of the AAIB and will not be sent to any foreign country for thorough assessment.

The Cockpit Voice Recorder (CVR) was recovered from the rooftop of a building on June 13 while the Flight Data Recorder (FDR) was found in the debris on June 16.

The investigation team led by AAIB DG G.V.G. Yugandhar includes an aviation medicine specialist, an ATC officer, and representatives from the US government’s National Transportation Safety Board (NTSB).

 

 

 

 

 

 

 

 

 

Greater Kashmir

PDP’s Waheed Para slams govt over delay in filling Advocate General’s position

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PDP’s Waheed Para slams govt over delay in filling Advocate General’s position

Srinagar, July 02: Peoples Democratic Party leader and Pulwama MLA Waheed ur Rehman Para on Wednesday slammed the government for leaving the Advocate General’s position vacant, stating that nine months have passed since the government was elected.

He questioned the government, “why delay?”.

Terming it a “deliberate” inaction, Para said, “At a time when critical constitutional matters stemming from August 5, are in courts, this vacuum is deliberate”.

In a post on X, Para wrote, “9 months into an elected government, J&K still has no Advocate General. At a time when critical constitutional matters stemming from August 5, are in courts, this vacuum is deliberate. In a border state facing cross-border threats, denying legal aid and advice stalls justice, accountability, and healing. Why delay?”

Greater Kashmir

First batch of Amarnath Yatra pilgrims arrive in Udhampur, receive warm welcome under tight security

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First batch of Amarnath Yatra pilgrims arrive in Udhampur, receive warm welcome under tight security

Udhampur July 02: The Amarnath Yatra will officially commence on July 3, and the first batch of pilgrims reached the Udhampur’s first base camp, Kali Mata Temple, on Wednesday.

The pilgrims were warmly welcomed by Nalini Prabhat, Chairman, District Development Council, Udhampur, Lal Chand, elected representatives, DIG Udhampur Reasi Range, Sarah Rizvi, Deputy Commissioner, Saloni Rai, SSP Amod Ashok Nagpure, and other officers of the District Administration and Jammu and Kashmir Police, and prominent citizens of the District.

Deputy Commissioner Saloni Rai said, “As per past practices, when the Yatra reaches Udhampur, we welcome them in Kali Mata Temple. We also organise a cultural programme for them here.”

The enthusiastic participation of residents in welcoming the pilgrims reflects the region’s deep-rooted tradition of hospitality. Local communities have historically played a crucial role in supporting the Amarnath Yatra, providing assistance and creating a conducive environment for the pilgrims’ spiritual journey.

Deputy Commissioner Saloni Rai said that extensive security measures have been put in place to guarantee the safety and smooth operation of the pilgrimage. “Proper arrangements of security have been done,” she said, underlining the administration’s efforts towards providing a peaceful and secure Yatra experience for all pilgrims.

Raj, one of the devotees from Bulandshahr, Uttar Pradesh, came for the first time along with his friends and family and said, “I am very excited for the Yatra. I have full faith in the government that they have arranged good security and will not let anything happen.”

Kailash Singh from Madhya Pradesh, who also came to participate in the Yatra along with 60 to 65 other people, said, “I have no fear. There is military and security everywhere.”

The armed forces and the Jammu and Kashmir Police have joined hands to provide comprehensive security to the lakhs of pilgrims undertaking the challenging yet spiritually enriching journey to the holy cave shrine at an altitude of 3,888 meters in the Himalayas

Greater Kashmir

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