New Delhi, July 31: Gold prices fell Rs 500 to Rs 98,020 per 10 grams in the national capital on Thursday as rupee appreciation capped the price of the precious metal, according to the All India Sarafa Association.

On Wednesday, the yellow metal of 99.9 per cent purity closed at Rs 98,520 per 10 grams.

In the national capital, gold of 99.5 per cent purity decreased Rs 400 to Rs 97,800 per 10 grams (inclusive of all taxes) on Thursday. It had climbed Rs 650 to close at Rs 98,200 per 10 grams in the previous market session.

Also, silver prices plunged Rs 2,000 to Rs 1,12,000 per kilogram (inclusive of all taxes) on Thursday. It had ended at Rs 1,14,000 per kg on Wednesday.

On Thursday, the rupee recovered 22 paise from its all-time low to 87.58 (provisional) against the US dollar, amid lower crude prices and suspected RBI interventions, after US President Donald Trump’s announcement of 25 per cent tariffs on Indian imports and a penalty for buying Russian crude.

The rupee on Wednesday closed at an all-time low of 87.80 against the US dollar after America announced 25 per cent tariff on Indian imports in the absence of a trade deal ahead of the August 1 deadline.

“Gold prices traded negative on Thursday as positive US macroeconomic data strengthened the US dollar, putting downward pressure on bullion.

“The latest GDP data indicated that the American economy grew in the second quarter, creating uncertainty regarding the interest-rate outlook,” Saumil Gandhi, Senior Analyst, Commodities at HDFC Securities, said.

According to Jateen Trivedi, VP Research Analyst, Commodity and Currency, LKP Securities, gold prices traded volatile and showed weakness after the US Federal Reserve maintained a hawkish stance, signalling no intent to cut interest rates in the near term amid ongoing tariff concerns.

In the global markets, spot gold rose USD 29.10, or 0.89 per cent, to trade at USD 3,304.14 per ounce.

“Market participants will closely track the upcoming US macroeconomic data, including Personal Consumption Expenditures (PCE) index, and jobless claims later in the day for further guidance on the monetary policy,” Kaynat Chainwala, AVP-Commodity Research, Kotak Securities, said.

Spot silver in the overseas market slipped 2.22 per cent to trade at USD 36.30 per ounce.

New Delhi, July 31: Elon Musk-led Starlink has received a licence to launch satellite service in India, and a framework for spectrum allocation is also in place for a smooth rollout, Union Telecom Minister Jyotiraditya Scindia said on Thursday.

The announcement coincides with the 30th anniversary of the first cellular call made in the country in 1995.

“Starlink has been granted a Unified License to launch satellite internet services in India. Frameworks for spectrum allocation and gateway establishment are ready, ensuring smooth rollout,” Scindia said.

Along with Starlink, Bharti Group-backed Eutelsat OneWeb and Jio SES are also awaiting spectrum allocation to roll out their satcom services.

The minister said over the last 11 years, under the leadership of Prime Minister Narendra Modi, India’s digital transformation has been nothing short of extraordinary.

“From remote villages to bustling cities, digital access has empowered citizens, bridged divides, and made India a global leader in affordable, inclusive technology,” he said.

The minister said that telephone connections in the country now stand at 1.2 billion and internet subscriptions have surged by nearly 286 per cent to reach 970 million.

“Broadband usage has seen explosive growth of over 1,450 per cent, rising from 60 million in 2014 to 944 million today. Most notably, the cost of mobile data has dropped by 96.6 per cent, making India the global leader in affordable data at just Rs 8.9 per GB,” he said.

Scindia said the revival of BSNL has been a major breakthrough.

“For the first time in 18 years, BSNL reported back-to-back net profits of Rs 262 crore and Rs 280 crore in FY 2024-25. Over 83,000 4G sites have been installed, with 74,000 already operational, all built on indigenously developed technology. Crack Teams, AI-powered monitoring, and fibre fault resolution within 12 hours have raised service standards across the board,” the minister said.

He said India’s rapid 5G rollout has covered 99.6 per cent of districts, with 4.74 lakh 5G towers and 300 million users.

“With the world’s highest per capita 5G usage (32 GB per month) and 100 Use Case Labs in place, India is also among the top six countries in 6G patent filings. Investments under the Production Linked Incentive scheme have touched Rs 4,305 crore, resulting in Rs 85,391 crore in sales and over 28,000 jobs. Foreign Direct Investment has nearly tripled from USD 282 million to USD 710 million,” the minister said.

Commenting on the 30th anniversary of the first cellular call in India, telecom industry body COAI Director General SP Kochhar said India’s telecom sector has witnessed a phenomenal transformation since the country’s first cellular call in 1995.

“Today, India stands as the world’s second-largest telecom market, boasting over 1.2 billion subscribers and some of the most affordable tariff rates globally. An Indian subscriber now uses over 21 GB of data each month on average, which is a testament to the world-class infrastructure developed by leading Indian telecom operators,” Kocchar said.

He said that the mobile service landscape in the country started with 2G and now over 85 per cent of India’s population and over 99 per cent of the districts in India enjoy access to 5G services.

Mumbai, July 31: Mumbai’s NIA special court on Thursday acquitted all seven accused of being involved in the 2008 Malegaon blasts, with the court saying that the prosecution failed to establish the case beyond a reasonable doubt. The NIA court has also ordered the Maharashtra government to award Rs 2 lakh compensation to the families of the victims and Rs 50,000 compensation to the injured.

A total of 7 people were accused, including former MP Sadhvi Pragya, Major (retired) Ramesh Upadhyay, Sudhakar Chaturvedi, Ajay Rahirkar, Sudhankar Dhar Dwivedi (Shankaracharya) and Sameer Kulkarni.

‘All bail bonds of the accused are cancelled and sureties are discharged,” the NIA special court said.

The court had examined 323 prosecution witnesses and 8 defence witnesses before pronouncing the verdict. The 7 people have been acquitted of all charges under the Unlawful Activities (Prevention) Act, Arms act and all other charges.

“Prosecution proved that a blast occurred in Malegaon but failed to prove that bomb was placed in that motorcycle,” the Judge Abhay Lohati said.

The court also mentioned that there were some manipulation done of medical certificates. “Court has come to a conclusion that injured people were not 101 but 95 only and there was manipulation. In some medical certificates,” the court said.

The court also said that there is no evidence of storing or assembling the explosives in Prasad Purohit’s residence, who was another accused in the case.

“No sketch of spot was done by the investigation officer while doing panchnama. No finger print , dump data or anything else was collected for the spot. The samples were contaminated so reports can’t be conclusive and relied upon,” the court said.

On the alleged role on Abhinav Bharat organisation, the court said that there was no evidence of the funds of the organisation being used for terror activities.

On September 29 2008, six people were killed and 95 others injured when an explosive device strapped to a motorcycle detonated near a mosque in Malegaon City’s Bhikku Chowk. Originally, 11 people were accused in the case; however, the court ultimately framed charges against 7, including former MP Sadhvi Pragya.

Chennai, July 31: Security officials at Chennai International Airport detained an American student early Thursday after he was found in possession of a satellite phone, a device banned in India for security reasons.

The incident took place as a Scoot Airlines flight bound for Singapore was preparing for departure at 12.30 a.m.

During a routine security check, airport officials detected the satellite phone in the baggage of Oakley Jackson (22), an American national travelling to Australia via Singapore.

Jackson, a university student from the US, had arrived in Chennai last week from Delhi on a tourist visit.

Upon questioning, he claimed he was unaware that satellite phones were prohibited in India and explained that he had carried the device with him from the US to Delhi and then to Chennai without facing any issues. However, security officials at Chennai Airport did not accept his explanation, citing national security concerns.

The student’s flight ticket was immediately cancelled, and the satellite phone was confiscated.

Both Jackson and the seized device were subsequently handed over to the airport police station for further investigation.

Police sources said they are probing whether the student had used the satellite phone during his stay in Chennai and, if so, with whom he had communicated.

Investigators are also trying to ascertain whether anyone had attempted to contact him through the device while he was in India.

“Satellite phones can bypass conventional communication networks, and their unmonitored usage poses a serious security threat,” a senior official at the airport said.

“Strict action is taken whenever such devices are found,” the official said.

The US Consulate in Chennai has been informed about the incident.

Officials from the embassy are expected to extend necessary assistance to Jackson as the inquiry progresses.

Carrying a satellite phone without prior permission from the Department of Telecommunications is a punishable offence in India.

Authorities have repeatedly cautioned foreign travellers to declare such devices and obtain special clearance before entering the country.

The airport police said further action would depend on the outcome of the investigation and whether any misuse of the device could be established. Jackson remains in police custody pending inquiries.