Business
Diwali 2025: Gold & silver likely to consolidate next week; Here’s what analysts said – The Times of India
After a record-breaking surge in both domestic and global markets, gold and silver prices are likely to see some consolidation and mild correction next week as festive demand tapers off and profit-booking sets in, analysts said.“Gold prices are likely to see some corrections/ consolidation as ongoing fundamentals are already priced in and physical demand wanes post mid-week,” Pranav Mer, Vice President, EBG – Commodity & Currency Research, JM Financial Services Ltd told PTI.He added that traders will closely track key global cues such as Chinese data, UK inflation, PMI releases, US consumer confidence, and remarks from Federal Reserve officials ahead of the October 28–29 Fed policy meeting.Gold ended last week higher, supported by festive buying in India and strong inflows into exchange-traded funds (ETFs). However, Mer noted that a “sharp corrective move was seen on Friday amid profit-booking as the rally looks overstretched now.”On the Multi Commodity Exchange (MCX), gold futures rose Rs 5,644 or 4.65% last week, with December contracts hitting a record Rs 1,32,294 per 10 grams on Friday before settling at Rs 1,27,008, snapping a five-day record streak.According to Prathamesh Mallya, DVP – Research, Non-Agri Commodities and Currencies, Angel One, “The shine in gold prices just does not stop as momentum has been on the rising side throughout 2025, supported by policy uncertainty, US tariffs, and a slowdown in the American economy.”Echoing similar sentiment, Karthick Jongadla, Investment Manager on smallcase and Founder of Quantace Research, said the rally was fueled by a softer dollar, easing bond yields, and safe-haven demand amid “lingering US-China trade noise and a US data/shutdown fog.”“Gold jumped to a new record this week. The MCX gold futures printed an intraday high of Rs 1,32,294 per 10 grams on October 17 and stayed firm into Dhanteras,” Jongadla said, adding that India’s gold reserves with the RBI have now crossed $100 billion, reflecting robust institutional interest.On the global front, Comex gold futures for December delivery hit a record $4,392 per ounce on Friday before settling at $4,213.30, down 2.12%.“Gold extended its meteoric rally to fresh record highs this week as investors rushed into safe-haven assets amid renewed fears about cracks in the US financial system after two regional banks disclosed loan irregularities linked to potential fraud,”said Riya Singh, Research Analyst – Commodities and Currency, Emkay Global Financial Services.Silver too mirrored gold’s movement. MCX silver futures for December delivery hit a record Rs 1,70,415 per kilogram before closing at Rs 1,56,604, posting a weekly gain of Rs 10,138 or 6.92%.“Silver prices extended their bull run along with gold and were up over 15% in the week till Thursday, supported by reports of a supply crunch in the physical market and sustained ETF buying,” Mer of JM Financial said.“However, prices pared more than half the gains in a sharp sell-off on Friday which triggered profit-booking by investors. The rally in both bullions looks over-stretched and may see more correction ahead.”Globally, Comex silver futures hit $53.76 per ounce before retreating to $50.10, down 6% on Friday.“Silver prices touched record highs on Friday before retracing slightly, marking a remarkable run of nearly 87% for 2025,”Singh of Emkay Global noted. She added that ETF holdings have expanded by 117 million ounces this year to 833 million ounces, though accumulation appears to be plateauing.She also pointed out tight supply conditions in London, where more than 15 million ounces were withdrawn from Comex warehouses in New York last week to ease local shortages, even as ETF inflows of 11 million ounces further tightened supply.Analysts expect volatility to persist next week but maintain that the broader trend for precious metals remains positive, underpinned by macroeconomic uncertainty, central bank buying, and strong investor appetite for safe-haven assets.(Disclaimer: Recommendations and views on the stock market and other asset classes given by experts are their own. These opinions do not represent the views of The Times of India)
Business
How To Apply For Insurance Claim After Accident? Where Does Licence Validity Come In? | Explained
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Even if your driving licence has expired, the law protects accident victims. Learn how insurance claims work and what the 30-day grace period covers
The rules for insurance claims following a road accident differ depending on whether it is a third-party claim or an own damage claim.
The Punjab and Haryana High Court has clarified that a driving licence remains valid for 30 days after its expiry. If an accident occurs on the 30th and final day of this grace period, the insurance company is legally required to honour the claim.
According to The Tribune, the licence in the case under consideration expired on June 4, 2001. The 30-day grace period began on June 5, meaning the licence remained valid until July 4, 2001. The accident took place on July 4, 2001, at around 10:45 am, and as it fell within the grace period, the licence was deemed legally valid.
Insurance Claims In India: What The Law Says
The rules for insurance claims following a road accident differ depending on whether it is a third-party claim or an own damage claim.
Third-Party Insurance: Mandatory for All Vehicles
Under Section 146 of the Motor Vehicles Act, 1988, third-party insurance is compulsory for every vehicle in India. Third-party claims relate to:
- Injury or death of a third party
- Damage to third-party property
The Supreme Court has consistently ruled that even if the driver has no licence, an expired licence, a suspended licence or a licence of the wrong category, the insurance company must still compensate the victim or their family.
This obligation remains even if:
- The driver has no driving licence at all
- The licence has expired
- The licence is suspended
- The licence belongs to an incorrect vehicle category
- The driver only holds a learner’s licence
‘Pay and Recover’ Principle
The Supreme Court frequently applies the pay and recover principle:
- The insurer must first pay compensation to the victim.
- The insurer may then recover the amount from the vehicle owner.
In 2023, the Supreme Court reaffirmed that the victim must not suffer because the driver lacked a valid licence.
Own Damage Claims: Strict Rules Apply
The rules for own damage claims are entirely different. Every motor insurance policy clearly states that the driver must have:
- A valid driving licence
- A proper licence for the vehicle category
If, at the time of the accident:
- The driver had no licence, or
- The licence had expired, or
- The licence was not appropriate for that vehicle,
the insurance company will reject the own damage claim entirely.
This position was upheld by the Supreme Court in Dharmendra Goyal vs Reliance General Insurance (2022) and reaffirmed in multiple judgements between 2023 and 2025.
The National Consumer Commission (NCDRC) issued similar rulings in dozens of cases.
Grace Period And Licence Validity
If an accident occurs within the 30-day grace period after the licence has expired, insurance policies provide full coverage, both for:
- Third-party claims, and
- Own damage claims
This rule is applicable nationwide.
When Is Renewal Necessary?
According to Section 15 of the Motor Vehicles Act, 1988 and the Central Motor Vehicles Rules, 1989:
30-Day Grace Period
- The licence remains fully valid for 30 days after expiry.
- There is no penalty if renewed within these 30 days.
Penalties After The Grace Period
- After 30 days: Rs 300 fine, increasing to Rs 1,000 per year.
- After 1 year: The applicant must take the driving test again.
- After 5 years: A complete restart is required, including a new learner’s licence.
Renewal Made Easier (2025 Guidelines)
The Ministry of Transport’s 2025 guidelines confirm:
- The 30-day grace period applies across India.
- Driving licences can be renewed instantly online via the Parivahan.gov.in portal.
Click here to add News18 as your preferred news source on Google. December 08, 2025, 14:12 IST
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Mumbai: Shares of InterGlobe Aviation, the parent company of IndiGo Airlines, fell sharply in early trade on Monday, dropping 6.6 per cent to an intra-day low of Rs 5,015 on the BSE.
However, it recovered later as around 9:45 a.m., the shares were trading at Rs 5,159.50, down by Rs 211 or 3.93 per cent.
The sell-off came after the Directorate General of Civil Aviation (DGCA) extended the deadline for IndiGo CEO Pieter Elbers to respond to a show-cause notice linked to the airline’s recent operational disruptions.
The aviation regulator had issued a show-cause notice to IndiGo’s accountable manager on Sunday, just a day after sending a similar notice to CEO Pieter Elbers.
The DGCA said that the airline’s massive wave of cancellations over the past week caused widespread inconvenience and distress to passengers across the country.
According to the regulator, the disruptions were largely triggered by IndiGo’s failure to plan properly for the rollout of the revised Flight Duty Time Limitations (FDTL) rules.
These rules, which lay down the duty hours and mandatory rest periods for flight crew, came into effect recently and have created significant operational challenges for the airline.
In its notice, the DGCA pointed out that IndiGo’s “large-scale operation failures” suggest major lapses in planning, oversight and resource management.
The accountable manager has been given 24 hours to explain why enforcement action should not be taken. If the airline fails to respond within the extended deadline, the DGCA has said it will proceed based on the information available.
Even as the regulatory pressure increases, IndiGo said on Sunday that it has restored 95 per cent of its network and plans to operate around 1,500 flights.
The airline claimed that its operations are on track to stabilise by December 10, with improving on-time performance and fewer cancellations.
However, more than 220 flights had already been cancelled across major airports by the time of reporting, adding to the inconvenience faced by thousands of passengers.
US President Donald Trump has flagged potential concerns over Netflix’s planned $72bn (£54bn) deal to buy Warner Brothers Discovery’s movie studio and popular HBO streaming networks.
At an event in Washington DC on Sunday, he said Netflix has a “big market share” and the firms’ combined size “could be a problem”.
On Friday, the two companies said they had reached an agreement that could bring Warner Brothers’ franchises like Harry Potter and Game of Thrones to Netflix, creating a new media giant.
The planned deal, which has raised concerns among some in the industry, is yet to be approved by competition authorities. The BBC has contacted Warner Brothers, Netflix and the White House for comment.
Launched in 1997 as a postal DVD rental business, Netflix has grown to become the world’s largest subscription streaming service. The deal – the biggest the film industry has seen in a long time – would cement its number one position.
Under the agreement several global entertainment franchises, such as Looney Tunes, The Matrix and Lord of the Rings, would move to Netflix.
The US Justice Department’s competition division, which oversees major mergers, could contend that the deal violates the law if the combined businesses account for too much of the streaming market.
At an event at the John F. Kennedy Center in the US capital, Trump said that Netflix has a “very big market share” which would “go up by a lot” if the deal goes ahead.
Trump added that he would be personally involved in the decision on whether or not to approve the deal and repeatedly highlighted the size of Netflix’s market share.
He also said that Netflix’s co-CEO Ted Sarandos recently visited the Oval Office and praised him for his work at the company.
“I have a lot of respect for him. He’s a great person,” said Trump. “He’s done one of the greatest jobs in the history of movies.”
Mr Sarandos earlier acknowledged that the agreement may have surprised investors but said it was a chance to position Netflix for success in the “decades to come”.
Some in the entertainment industry have criticised the agreement.
The Writers Guild of America’s East and West branches called for the merger to be blocked, saying the “world’s largest streaming company swallowing one of its biggest competitors is what antitrust laws were designed to prevent.”
“The outcome would eliminate jobs, push down wages, worsen conditions for all entertainment workers, raise prices for consumers and reduce the volume and diversity of content for all viewers,” it said on Friday.
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How To Apply For Insurance Claim After Accident? Where Does Licence Validity Come In? | Explained
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