MCX December gold futures on the Multi Commodity Exchange (MCX) skyrocketed by 1.4%, reaching an all-time high of ₹1,32,770 per 10 grams. Meanwhile, silver prices dropped slightly on the MCX to ₹1,85,000 per kilogram. The surge in gold prices can be attributed to a weaker US dollar, strong spot demand, and positive global cues, making gold an attractive investment option. However, the rising prices may have an impact on shoppers this Diwali, as the cost for 10 grams of 24-carat gold has surpassed ₹1.3 lakh. Despite this, jewellers remain optimistic, as increased household liquidity and positive economic indicators continue to encourage discretionary spending.
On Friday, the IRCTC website and mobile app faced technical issues, causing an outage and inconvenience to over 5,800 users trying to book tickets. Social media platforms were flooded with complaints as the server crashed during peak booking hours, with some suggesting the need for better technology to handle festive rush. Officials have assured that efforts are being made to restore normal operations.
In a boost for the festive season, Indian Railways has launched two special Vande Bharat trains between Delhi and Patna. These trains will run till November 17 and offer a luxurious and secure travel experience for passengers during Diwali and Chhath Puja. With stops at six important stations, these trains will cover a distance of 1,000 km in under 14 hours.
As India prepares for Dhanteras 2025, gold has already become the star of the show, with prices surging more than 50% this year and showing no signs of slowing. The combination of global and domestic factors, including safe-haven demand, central bank buying, and economic uncertainty, has pushed gold to an all-time high of over Rs 1,30,000 per 10 grams. As investors flock to add the precious metal to their portfolio, experts predict a continued upward trend, driven by lower interest rates, de-dollarisation, and geopolitical tensions.
India’s economy and markets are seeing a resurgence, with PE and VC investments soaring to a three-year high of $26 billion in 2025. The country’s growing affluence and digital transformation have spurred a luxury market boom, with high-end brands rushing in to meet the demand. The trend is supported by a shift towards larger, more strategic investments in sectors such as IT and consumer staples.
The well-known fitness club chain, Planet Fitness, has recently opened a new location in Monument, Colorado. Located at 16096 Jackson Creek Parkway, the club will hold its official grand opening on Saturday with a celebratory event at 10 a.m. This new location promises to offer residents of Monument a state-of-the-art fitness facility and a wide range of amenities.
The CEO of Virgo Specialities Pvt Ltd, Ketan Kadam, has been denied bail for the second time for his alleged involvement in the Mithi river desilting scam. The sessions court noted that Kadam has "direct involvement" in the crime, having "managed money received from contractors in his shell companies." According to the Economic Offences Wing (EOW), Kadam and others conspired to defraud the Brihanmumbai Municipal Corporation (BMC) through irregularities in the tendering process. Kadam is accused of manipulating the terms and conditions of the tenders to benefit his company and causing losses to the BMC.
As India's luxury market continues to see a rise in demand, M3M India, one of the biggest real estate developers in Delhi-NCR, has announced the launch of Jacob & Co. Residences in Noida. This will be the first residential development in India under the iconic Jacob & Co. brand, and is expected to generate a topline of ₹3500 crore. The project will feature ultra-luxury serviced residences and limited-edition Jacob & Co. timepieces, elevating the ownership experience to a whole new level. With this venture, M3M aims to bring a truly global lifestyle to homebuyers in Noida and contribute to the nation building vision of Prime Minister Narendra Modi.
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Several financial entities including SBI Life Insurance, Aditya Birla Mutual Fund, Morgan Stanley, and Goldman Sachs have collectively purchased a 6% stake in Aditya Birla Lifestyle Brands (ABLBL) from Flipkart Investments for Rs 998 crore through open market transactions. The acquisitions were made by renowned names such as Amansa Capital, Nippon India Mutual Fund, ICICI Prudential MF, UTI MF, among others. Following the transaction, SBI Life's stake in the company has risen to 3.65% from 2.23%. The transaction resulted in a significant increase in the share price of Aditya Birla Lifestyle Brands, rising by 7.01% and closing at Rs 146.01.