Mumbai, Sep 29: Gold and silver prices traded lower on Tuesday with precious metals declining up to 1 per cent amid elevated US yields and uncertainty over the US-Iran standoff which weighed on bullion sentiment.

On the Multi Commodity Exchange (MCX), gold futures (December) were trading at Rs 1,48,410 per 10 grams, down Rs 487 or 0.33 per cent.

The yellow metal declined as much as 0.50 per cent or Rs 747 to hit an intraday low of Rs 1,48,150 by 10:34 am. It touched an intraday high of Rs 1,49,034, up 0.09 per cent or Rs 137.

On the other hand, silver futures (December) fell as much as 1.29 per cent or Rs 2,942 to hit an intraday low of Rs 2,24,500 per kg.

At the last count, the white metal was trading at Rs 2,25,338, down Rs 2,104 or 0.93 per cent. It touched an intraday high of Rs 2,26,359, down 0.47 per cent or Rs 1,083.

The selling pressure in precious metals came amid elevated tensions between the US and Iran over the Strait of Hormuz which kept energy prices higher.

Spot gold was also trading lower after falling 4 per cent in the previous session to a seven-week low.

Iranian officials reportedly have privately expressed pessimism about reaching an agreement with Washington to end hostilities before the US midterm elections in November.

The developments came after US President Donald Trump rejected Iran’s latest proposal to reopen the critical waterway within seven days.

The uncertainty has kept energy prices elevated while higher US yields have added pressure on non-yielding assets such as gold and silver.

According to commodity experts, immediate resistance for gold is placed at Rs 1,50,000-1,50,700, followed by Rs 1,52,000-1,52,600, while support is seen at Rs 1,48,000-1,47,300, followed by Rs 1,46,000-1,45,300.

However, the near-term bias remained cautious, with a sustained move above Rs 1,50,000 needed to confirm a recovery. A decisive break below Rs 1,48,000 could trigger another decline.

For silver, the experts said the metal opened with a gap-down near Rs 2,26,000 and remained below the Rs 2,27,000-2,28,000 zone, which has turned into resistance following Monday’s steep decline.

Immediate resistance for silver is seen at Rs 2,27,000-2,28,000, followed by Rs 2,32,000-2,33,000. Support is placed at Rs 2,24,000-2,23,000, followed by Rs 2,20,000-2,19,000.

The bias for silver remained cautious to negative, with a sustained move above Rs 2,28,000 needed to stabilise the setup. A decisive break below Rs 2,24,000 could expose the metal to the Rs 2,20,000 region.

Guwahati, Sep 29: Assam Chief Minister Himanta Biswa Sarma on Tuesday highlighted the growing investment and employment opportunities in the state, citing a Rs 778 crore investment and the expansion of local value chains from agricultural produce to consumer products.

Taking to social media platform X, CM Sarma said the growth of investment in Assam was creating more opportunities for local employment and enabling products originating in the state to reach markets beyond its borders.

“It grows with opportunity ₹778 Cr investment, more local employment opportunities,” CM Sarma said in his post. Highlighting the connection between agriculture and industry, the Chief Minister said the journey of a potato grown in Assam’s fields to a packet of Lay’s available on consumers’ shelves represented the kind of economic opportunity the state was seeking to create.

“From a potato growing in our fields to a packet of Lay’s on your shelf. That’s what opportunity looks like – Made in Assam, reaching beyond Assam,” he said.

The post underlined the state government’s emphasis on strengthening local production and creating an ecosystem in which agricultural output can feed into large-scale processing and manufacturing.

The Rs 778 crore investment highlighted by CM Sarma is also significant in the context of Assam’s efforts to attract private investment and expand employment opportunities outside traditional sectors.

The government has been promoting the state as an emerging investment destination, with a focus on manufacturing, food processing, infrastructure and other industries.

The Chief Minister’s remarks also pointed to the potential of linking Assam’s farmers with organised food-processing and consumer-product supply chains. Such linkages can create additional avenues for value addition within the state while enabling locally produced agricultural commodities to access wider markets.

The reference to Lay’s reflects the broader idea of converting locally grown agricultural produce into branded consumer products, thereby creating economic activity at multiple stages, from farming and procurement to processing, packaging, logistics and retail.

CM Sarma’s post comes amid the state government’s continued efforts to project Assam as a destination for investment and industrial development. The government has repeatedly stressed the need to generate more local employment while ensuring that the benefits of industrial growth reach communities and producers within the state.

The Chief Minister said the larger objective was to ensure that opportunities created in Assam were not confined to the state but enabled locally produced goods to reach consumers across the country and beyond.

New Delhi, Sep 28: The Central Board of Direct Taxes (CBDT) has extended the due date for furnishing Return of Income for assessment year (AY) 2026-27 from October 31 to November 21 for persons subject to audit under the Income-tax Act, 1961, according to an official statement issued on Monday.

Accordingly, the ‘specified date’ for furnishing the audit report also stands extended from September 30 to October 21, the statement said.

A formal notification to this effect is being issued separately, the statement added.

The demand for an extension had gathered momentum in recent weeks, with several chartered accountant associations and tax professionals seeking that the deadline be pushed to October 31. Tax professionals had also raised concerns over the time required to complete audit procedures, verify disclosures, and reconcile information available across various tax and financial records.

The extension will give taxpayers and their auditors more time to complete the audit process and furnish the required report on the income-tax e-filing portal and is expected to facilitate the ease of doing business.

Meanwhile, the government’s net direct tax collection has recorded a robust 13 per cent growth to surpass the Rs 12.12 lakh crore mark between April 1 and September 17 of the current financial year compared to the same period of the previous financial year, according to official data.

Gross direct tax collections ⁠rose over 15 per cent year-on-year basis to Rs 14.3 lakh crore during the same period, the figures showed.

Corporate tax mop-up grew 19.48 per cent to about Rs 5.56 lakh crore, while personal income tax and collection from Hindu undivided families increased 6 per cent to over Rs 6.16 lakh crore. Securities Transactions Tax (STT) collection jumped 53 per cent to Rs 40,214 crore between April 1 and September 17 compared to the same period of the previous year.

Refund issuance surged by over 29 per cent to cross Rs 2.2 lakh crore during this period, the data further showed.