This news has been received from: CNBC

All trademarks, copyrights, videos, photos and logos are owned by respective news sources. News stories, videos and live streams are from trusted sources.

Pedestrians wearing protective face masks in front of a mural in New Delhi, India on July 21, 2020.Yawar Nazir | Getty Images

India's Interior Minister Amit Shah said on Sunday that he had tested positive for coronavirus and had been admitted to hospital.

Amit Shah, a close aide to Prime Minister Narendra Modi and one of the country's most powerful politicians, heads a key ministry that has been at the forefront of managing India's coronavirus outbreak.

"I request all of you who came in contact with me in the last few days to isolate yourselves and get tested," Shah said in a tweet.

Related Tags
  • Emerging markets
  • India
  • Narendra Modi
  • New Delhi

News Source: CNBC

Sayyeshaa Gets A Lovey-Dovey Birthday Wish From Hubby Arya (View Tweet)

Next News:

Gold Consumers in India Hug Sidelines Ignoring Steep Price Drop

Fantasy Football Podcast: Draft Guide — Tight Ends We Did Some Digging & Found the 14 Best Jackets at the Nordstrom Anniversary Sale Gold Consumers in India Hug Sidelines Ignoring Steep Price Drop

(Bloomberg) -- The biggest drop in gold prices in nearly seven years wasn’t enough to pull Indian buyers back to stores and they are likely to stay on the sidelines as volatility increases.

Load Error

Domestic gold prices fell by the most since October 2013 on Tuesday, capping this year’s rally at 33%. Gold has recouped some losses since then, unnerving consumers, who traditionally rush to buy when prices drop. Buyers are much more wary about price swings this year and are holding off buying gold as the economy contracts and coronavirus curbs limit physical movement, according to the All India Gem and Jewellery Domestic Council.

“This big fall has created a suspense among the consumers over whether there will be a further fall,” said N. Anantha Padmanaban, chairman of the trade group. “Consumers had only started coming to the stores in the last 10 days, and now with a correction like this, they may take their time waiting for further fall.”

© Bloomberg Gold consumers in price-sensitive India stay on sidelines

Demand in the world’s second-biggest user is forecast to slide to a record low this year, hammered by all-time high prices and as the country heads toward its first annual economic contraction in more than four decades after virus-related restrictions shuttered businesses and left millions jobless.

“The market is very volatile right now and this kind of movement reduces consumer confidence in the gold market,” said Vaibhav Saraf, director at Aisshpra Gems and Jewels. “It forces the consumer to step back and wait for the markets to stabilize before investing.”

For more articles like this, please visit us at bloomberg.com

©2020 Bloomberg L.P.

Other News

  • Canadiens’ head coach Claude Julien hospitalized for chest pains after Game 1 loss
  • Canadiens Coach Claude Julien Hospitalized With Chest Pains, Not Expected Back In Series Against Flyers
  • Canadiens Coach Claude Julien Hospitalized With Chest Pains
  • Canadiens coach Claude Julien hospitalized with chest pains
  • NCW India Chairperson Demands Arrest of Bhojpuri Artist Vikash Gop For His Objectionable Songs on Sushant Singh Rajput-Rhea Chakraborty Controversy
  • Pelosi on Coronavirus Relief: Everything I Do Is About the Children I Have Advice for Them Whether They Want It or Not
  • Savannah LaBrant Finally Reveals Infant Sons Name, Baby Remains Hospitalized
  • Racehorse dynasty heir may be key to delivering COVID-19 vaccine to the world
  • French Interior minister condemns arson attempt at a mosque
  • India Announces $500 Million for Maldives Project to Counter China Influence
  • The stock market rally is not connected to reality, India stock exchange chief warns
  • Chairman Of Huge Electronics Manufacturing Company: China’s ‘Days As The World’s Factory Are Done’
  • ByteDance is reportedly in talks with India's Reliance about a TikTok investment
  • Sushant Singh Rajput Case: Late Actor’s Sister Shweta Singh Kirti Demands CBI Enquiry from PM Narendra Modi and HM Amit Shah (Watch Video)
  • What You Need to Know About the Coronavirus Right Now
  • India's Coronavirus Cases Jump by 67,000, Setting Daily Record
  • Riverside, San Bernardino Report Additional Coronavirus Deaths; Ventura Reports New Cases
  • USA :People hospitalized in A Coruña will only have one companion
  • Sushant Singh Rajput Case: Rhea Chakraborty Made 569 Calls to Late Actor’s Ex-Manager Shruti Modi, Reveals CDR