Prime Minister Narendra Modi on Tuesday began his 25th year as the head of a government, asserting that improving the lives of people and contributing to the progress of this great nation have been his constant endeavour.

He noted in a post on X that he had taken oath on this day in 2001 as Gujarat’s chief minister for the first time.

“Thanks to the continuous blessings of my fellow Indians, I am entering my 25th year of serving as the head of a Government. My gratitude to the people of India,” Modi said.

He added, “Through all these years, it has been my constant endeavour to improve the lives of our people and contribute to the progress of this great nation that has nurtured us all.”

After spearheading the BJP to victory in three consecutive assembly polls in Gujarat, he has led the BJP-led National Democratic Alliance to win in three successive national elections.

As an incumbent, Modi has never faced an electoral defeat and holds the record as the longest head of a government, including as chief minister for more than 12-and-a-half years, among all prime ministers. (AGENCIES)

Gold prices on Tuesday jumped Rs 651 to hit a fresh peak of Rs 1,20,900 per 10 grams in the domestic futures market, buoyed by strong global cues amid the prolonged US government shutdown and growing bets of rate cuts by Federal Reserve at its upcoming meeting.

On the Multi Commodity Exchange (MCX), the yellow metal futures for December delivery appreciated by Rs 651, or 0.54 per cent, to hit a record high of Rs 1,20,900 per 10 grams.

The February 2026 contract for gold futures increased by Rs 648, or 0.53 per cent, to hit a lifetime high of Rs 1,22,231 per 10 grams.

“Gold prices rose to an all-time high on US economic and political uncertainties and expectations of further interest rate cuts by the Federal Reserve,” Manav Modi, Analyst – Precious Metal Research at Motilal Oswal Financial Services, said.

Meanwhile, silver futures gained Rs 281, or 0.19 per cent, to trade near their record high of Rs 1,47,800 per kilogram. The white metal had hit its peak of Rs 1,47,977 per kg on Monday.

The March 2026 contract for silver futures advanced Rs 327, or 0.21 per cent, to Rs 1,49,500 per kg, after touching a lifetime high of Rs 1,49,605 per kilogram in the previous session.

Globally, Comex gold futures for December delivery breached the key USD 4,000 per ounce mark for the first time, by rising nearly 1 per cent on Tuesday.

However, silver futures for December delivery were quoting marginally lower at USD 48.43 per ounce.

Analysts said the ongoing US government shutdown has disrupted key federal programmes and delayed the release of crucial economic data, including the September jobs report. The absence of official US macroeconomic indicators, coupled with rising expectations of two Federal Reserve rate cuts this year, has further strengthened demand for the yellow metal.

“Additionally, sustained gold buying by global central banks also continues to power the record rally in the precious metal prices,” an expert said.

The latest data from the World Gold Council (WGC) showed that central bank gold buying rebounded in August, with global reserves rising by 15 tonnes during the month.

According to data from the People’s Bank of China (PBOC), the country’s gold holdings totalled 74.06 million fine troy ounces at the end of September, up from 74.02 million in the previous month, as the central bank expanded bullion purchases for the 11th straight month.

Manav Modi of Motilal Oswal Financial Services said traders will closely watch comments from several Federal Reserve officials later in the day for further cues on the monetary policy outlook.

“Focus this week will also be on the Federal Open Market Committee (FOMC) meeting minutes and Fed Chair Jerome Powell’s speech on Thursday for fresh insights on the US economy and the Fed’s path forward on interest rates,” he added. (Agencies)

The Enforcement Directorate (ED) has taken significant action against corruption in Karnataka by attaching fresh assets worth ₹40 crore linked to the Karnataka MUDA money laundering investigation. This latest attachment occurs amid an ongoing probe into serious allegations of financial misconduct.

This provisional attachment order affects 34 immovable properties, which include several sites owned by the Mysuru Urban Development Authority (MUDA). The agency issued the order on October 4 under the Prevention of Money Laundering Act (PMLA).

With the market value of these recently attached assets estimated at ₹40.08 crore, the total value of properties attached by the ED has now reached a staggering ₹400 crore as part of this extensive investigation.

The investigation stems from an FIR filed by the Karnataka Lokayuktha Police, highlighting the deep-seated corruption affecting MUDA’s operations. Former MUDA Commissioner GT Dinesh Kumar, arrested in September, remains in judicial custody while the investigation continues.

The ED’s probe has revealed a systematic method of layering and routing funds, which allegedly constituted “undue gratification” received by Kumar. Reports indicate that the crime proceeds were used to acquire properties in the names of Kumar’s relatives and associates.

“Such proceeds of crime were used for purchasing immovable properties in the name of relatives and associates of GT Dinesh Kumar. Further investigation also found illegal allotment of 31 MUDA sites by Kumar,”

the agency stated, underscoring the gravity of the allegations. Furthermore, the ED alleges a profound connection between MUDA officials and real estate businessmen, claiming substantial cash transactions for site allotments and approval processes, indicating a widespread corruption network.

Significantly, this case has also drawn attention due to its implications for Karnataka Chief Minister Siddaramaiah. Reports suggest potential irregularities related to land allotment granted to Parvathi, his wife. However, in a pivotal ruling, the Supreme Court upheld a Karnataka High Court order in July 2024, which quashed ED proceedings against her.

The Justice P.N. Desai Commission, initiated by the state government to investigate this matter, notably exonerated Siddaramaiah and his family. Additionally, the Lokayuktha Police has provided a clean chit to Siddaramaiah, Parvathi, and two other individuals, citing a lack of substantial evidence against them.

As the ED continues its crackdown on financial malpractice, many observers are watching closely to see how this investigation unfolds further. The agency’s ongoing focus on property attachments aims to disrupt the financial networks tied to this high-profile case, casting a spotlight on corruption within Karnataka’s urban development structure.

Chief Election Commissioner Gyanesh Kumar announced on Monday that the Bihar Assembly elections will occur in two phases, scheduled for November 6 and 11. The counting of votes will take place on November 14, with the entire process concluding by November 16. This announcement has triggered significant interest as millions prepare to participate in this crucial democratic exercise.

Kumar, emphasizing the election’s importance, referred to it as the “mother of all elections”. He underscored the Election Commission’s commitment to transparency and integrity during the election process across all constituencies. This upcoming election cycle is poised to shape the political landscape of Bihar significantly.

According to the schedule released by the Election Commission, a total of 121 Assembly constituencies will go to the polls in the first phase on November 6. The second phase will cover 122 constituencies on November 11. The counting process is crucial, as it determines the future leadership of the state, and the Chief Election Commissioner has stressed that postal ballot counting must precede final count rounds.

“It is mandatory to complete counting of postal ballots before the last two rounds of counting of votes,”

said the Chief Election Commissioner, clarifying procedures critical to ensuring reliable election outcomes.

The nomination process for candidates opens the door to various contenders, with significant deadlines approaching. For the first phase, the last date for filing nominations is set for October 17, followed by scrutiny on October 18. Candidates must withdraw their nominations by October 20.

In the second phase, candidates must submit their nominations by October 20. Scrutiny will unfold on October 21, and the final date for withdrawal is October 23. These dates are critical for the political parties as they strategize their approaches and candidates for the elections.

The term of the current Bihar Legislative Assembly ends on November 22, making this election not only necessary but urgent. With 243 Assembly constituencies in total—including two reserved for Scheduled Tribes (ST) and 38 for Scheduled Castes (SC)—the elections will reflect the diverse representation of the state’s population.

The upcoming Bihar Assembly elections are drawing the attention of political analysts, parties, and the public as they prepare for a robust electoral contest. The implications of these elections could resonate through Bihar’s governance and political direction in the years to follow.