Business
Gold, Silver Prices Ease On MCX Amid Profit Booking At Record Highs
Mumbai: Gold and silver prices fell in early trade on Thursday, on the Multi Commodity Exchange (MCX), as investors booked profits after both metals hit record highs in the previous session.
At around 9:15 am, MCX Gold December futures were down 0.34 per cent at Rs 1,22,789 per 10 grams, while MCX Silver December futures slipped 0.75 per cent to Rs 1,48,738 per kg.
In Wednesday’s session, gold futures for December delivery had touched an all-time high of Rs 1,23,450 per 10 grams, and silver had hit a fresh peak of Rs 1,50,282 per kg.
Gold prices have seen a sharp rally this year, with domestic spot prices jumping more than 50 per cent so far.
The surge has been driven by global political and economic uncertainties, expectations of interest rate cuts by the US Federal Reserve, a weaker US dollar, strong central bank buying, and robust inflows into gold exchange-traded funds (ETFs).
Experts believe that despite some short-term volatility and profit booking, gold prices will continue to rise in the coming months.
They expect gold to surpass Rs 1,25,000 per 10 grams by the end of 2025, supported by rate cut hopes and concerns related to US trade tariffs.
“By year-end, gold on the MCX could move towards Rs 1,25,000–Rs 1,28,000 per 10 grams, while silver could test Rs 1,55,000–Rs 1,60,000 per kg, assuming the US Federal Reserve delivers one or two rate cuts and the dollar remains under pressure,” market experts added.
“Gold broke above $4,000 per ounce — up 53 per cent year-over-year — as investors sought safe havens amid the government shutdown and policy uncertainty,” analysts added.
The Dollar Index rallied to 98.90 due to political instability in France and Japan, which pressured commodities.
Oil fell 0.67 per cent to $62.13 per barrel as Trump announced progress on the ceasefire and inventories exceeded expectations, easing geopolitical risk premiums, as per the experts.
Business
6G drive: India prepares for 6G trials; global experts at IMC 2025 call for collaboration – The Times of India
India is gearing up for 6G trials, with global experts at the India Mobile Congress (IMC) 2025 highlighting the country’s growing importance in next-generation network development and international collaboration. Industry leaders and researchers told ANI that India’s push in 6G research and innovation could shape the future of global connectivity.Ashutosh Dutta, Chief 5G Strategist at Johns Hopkins University Applied Physics Laboratory, told news agency ANI that ubiquitous connectivity would be a defining feature of 6G. “Not everybody has access to cell towers or Wi-Fi, so when these are not available, we fall back to satellite,” he said. Dutta emphasised the need to integrate non-terrestrial and terrestrial networks to ensure seamless communication. “Operators, academics, and service providers should work together to build prototypes, simulations, and testbeds to support different applications,” he added.He also underlined that secure and uninterrupted connectivity will be critical for 6G adoption. “As we switch between access technologies like Wi-Fi and satellite, maintaining security and privacy will be crucial,” Dutta noted, adding that cross-country collaboration on chip development and AI-enabled technologies would strengthen network resilience. “India has real technical manpower and strong government support. What we need is collaboration among academia, industry, and government to develop the future skill set,” he said.Professor Harald Haas, Professor of Engineering and widely known as the “Father of Li-Fi,” said the technology could play a transformative role in India’s connectivity landscape. “Li-Fi can help connect rural communities by building free-space optical communications where fibre is too expensive,” he told ANI. He added that Li-Fi could complement 5G and 6G networks by offering additional data capacity and energy-efficient connectivity. “We can even use solar panels as broadband receivers, harnessing both sunlight and data together,” Haas said, quoted ANI.Echoing the sentiment, Iwao Hosako, Executive at Japan’s National Institute of Information and Communication Technology (NICT), said India is emerging as a major power in communications and software. “India is a very big power because of its industries in communications and software development,” he told ANI. Hosako said Japan sees immense potential to collaborate with India on new services and technologies. “Many talented people from India already work with us, and we hope to expand this cooperation to a higher level, between industries and governments,” he added.
Faarea MasudBusiness reporter
Getty ImagesMillions of households in England will have to pay higher water bills than previously announced after the UK’s competition body agreed to let five water companies increase charges.
The companies – Anglian, Northumbrian, Southern, Wessex and South East – had asked for permission to raise bills by more than the amount previously agreed by the regulator, Ofwat.
They argued the rises set by Ofwat – which average 36% over the next five years – were not enough to deliver better infrastructure.
A panel appointed by the Competition and Markets Authority (CMA) has now said the bills can rise on average by an extra 3% – about £12 per year – partly due to the companies facing higher borrowing costs.
An independent group of experts appointed by the CMA said that Anglian and Northumbrian could increase their bills by a further 1%, Southern by 3%, South East by 4% and Wessex by 5%.
The five water companies serve more than 7 million household and business customers, and had asked for much larger increases to bills than the ones granted.
The group appointed by the CMA said the firms had asked to increase bills to raise a total of £2.7bn in extra revenue, but it had allowed only 21% of this, equating to an additional £556m.
“We’ve found that water companies’ requests for significant bill increases, on top of those allowed by Ofwat, are largely unjustified,” said Kirstin Baker, who chaired the group of experts.
“We understand the real pressure on household budgets and have worked to keep increases to a minimum, while still ensuring there is funding to deliver essential improvements at reasonable cost.”
The CMA’s proposals are provisional and Ofwat and the water firms have a chance to respond before the CMA’s final conclusion in a few months.
Water companies finance much of their investment plans with borrowed money. The CMA said part of the reason it had allowed a rise was because interest rates on those loans have risen, making it more expensive for the firms to carry out their plans.
Troubled firm Thames Water also appealed for higher price rises, but has deferred its case until late October while it tries to fix a rescue bid.
Water firms have been told by authorities to fix outdated infrastructure which has been found to be the cause of much river and water pollution. The Environment Agency said serious pollution incidents by water firms went up by around 60% in a year.
Water Minister Emma Hardy said she expected every water company to “offer proper support to anyone struggling to pay”.
Citizens Advice’s Anne Pardoe said: “Ramping up water bills, when people up and down the country are already rationing showers and cutting down on laundry, is going to stretch budgets beyond breaking point”.
She called for the introduction of a national social tariff, in order to help people from low-income households pay for essential bills. Social tariffs are offered by some companies offering services such as broadband and energy, and allow those on benefits access to cheaper bills, although criteria differ from firm to firm.
The CMA’s findings will lead to an additional increase on average of “£1 per household, per month” for customers of the water firms that appealed, said David Henderson, chief executive of Water UK which represents water firms.
When asked by the BBC’s Today programme why the firms themselves could not pay for the needed upgrades, Mr Henderson said shareholders had already invested a lot of their own money, and eight water firms had made a loss in 2024.
“They [investors] don’t have to put money into this sector, they don’t even have to put money into this country,” he said, adding that many “haven’t made a profit in years. This isn’t an industry awash with cash. It is an industry providing vital infrastructure”.
Great Britain’s energy system operator has warned of potential “tight days” this winter.
The National Energy System Operator (Neso) indicated that imported electricity from Europe could be used “when required” to power homes and businesses.
This outlook follows the publication of the latest winter energy reports by Neso and National Gas, after a rise in the price cap led to a surge in costs.
Neso stated on Thursday that electricity margins, reflecting the cushion of spare power supply, have risen to their strongest level since 2020.
However, it added that there could still be some “tighter periods”, which might need support from the energy industry.
“We expect a sufficient operational surplus throughout winter, although there may still be tight days that require us to use our standard operating tools, including system notices,” the report said.
System notices are how the grid operator informs the wider energy industry that electricity supply has not matched demand, allowing for production to increase if needed.
Early data from electricity firms and forecasters has suggested that “tight days” are most likely to take place in early December or mid-January.
Neso added that imports will be available when needed to help cover demand, supported by “adequate electricity supply across Europe”.
Deborah Petterson, director of resilience and emergency management at Neso, said: “A resilient and reliable energy supply is fundamental to our way of life.
“At Neso, we are looking at the upcoming winter and can report that this year’s winter outlook sets out the strongest electricity margins in six years.
“It is critical that we continue our work with the wider energy industry to prepare for the coming months to build on this foundation and maintain our world-leading track record of reliability.”
Meanwhile, the latest analysis from National Gas indicated that Great Britain has enough gas supply capability to meet peak demand.
It indicated supply can meet demand, “even accounting for unforeseen network outage scenarios”.
The gas network operator said gas demand is expected to be 3 per cent lower than last winter, easing pressure on supply.
It said high-demand days are still expected, but it stressed that it is “confident” the market will operate as needed.
Glenn Bryn-Jacobsen, director of energy systems and resilience at National Gas, said: “As we head into winter, we remain confident in the resilience of our gas system and our ability to meet Britain’s energy needs during periods of peak demand.
“The energy landscape is evolving, with a growing reliance on imports and the continued decline of UK continental shelf supplies.
“Meeting these challenges requires a coordinated, forward-looking approach, and we’re working closely with government, industry, and regulators to develop the right solutions that safeguard security of supply for the future.”
But the report from National Gas shows a fall in Britain’s gas storage capabilities, thanks to the Rough storage site off the coast of Yorkshire no longer storing gas, which means there is an increased reliance on importing liquified natural gas (LNG) to plug the gap in times of high demand.
The facility in the North Sea is the largest of its kind in the UK, but owner Centrica has stopped filling it with natural gas amid concerns over its financial viability.
The Rough site comprises about half of Britain’s storage capacity, and acts as a buffer when the weather is especially cold and demand for gas spikes.
Centrica has long warned it will be decommissioned without government support to allow investment in the site.
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