Mumbai, Nov 18: Gold and silver prices dropped sharply in the domestic futures market on Tuesday morning as hopes of a US Federal Reserve rate cut in December faded and concerns over US tariffs eased.

This reduced the appeal of safe-haven assets like bullion. At early trade, MCX Gold December futures were trading 1.19 per cent lower at Rs 1,21,466 per 10 grams.

MCX Silver December contracts also declined 1.65 per cent to Rs 1,52,750 per kg.

“Gold has support at $4000-3965 while resistance at $4075-4110. Silver has support at $49.70-49.45 while resistance is at $50.75-51.10,” market watchers said.

“In INR gold has support at Rs1,22,350-1,21,780 while resistance at Rs1,23,750-1,24,500. Silver has support at Rs1,53,850-1,52,100 while resistance at Rs1,56,540, 1,57,280,” they added.

Internationally, gold prices slipped for the fourth straight session on Tuesday.

A stronger US dollar and weakening expectations of a rate cut next month continued to weigh on the metal.

The dollar index rose to 99.59, making gold more expensive for buyers using other currencies.

Gold, which is priced in US dollars, becomes costlier when the greenback strengthens, resulting in reduced demand.

The recent US government shutdown, which lasted a record 43 days, had delayed the release of important economic data, creating uncertainty about the condition of the world’s largest economy.

With the shutdown now over, attention has shifted to key data releases expected this week, including the September nonfarm payrolls report on Thursday.

These numbers will play a major role in shaping expectations around the US Federal Reserve’s next move on interest rates.

Meanwhile, Fed officials continue to send mixed signals on the future path of monetary policy, adding further uncertainty to the market.

With no major positive fundamental triggers in recent days, bulls remain hesitant—especially with both metals still trading at historically high levels.

“Traders now await a fresh round of US economic data later this week. Meanwhile, a firmer US Dollar Index and slightly higher 10-year Treasury yields added pressure to precious metals,” analysts said.

Mumbai: A 42-year-old supervisor working on the Dahisar–Mira–Bhayander Metro Line 9 construction project died on Saturday after falling nearly 70 feet from an elevated structure at the Sai Baba Nagar metro station site. The deceased has been identified as Farhan Tehzeed Ahmed, who was reportedly overseeing construction activities at the time of the incident.

According to reports, Ahmed is believed to have lost his balance while working at a significant height, resulting in a fatal fall onto the road below. The incident drew the attention of nearby commuters and residents, who quickly gathered at the site.

Ahmed was immediately rushed to Sunrise Hospital, located adjacent to the construction area. After preliminary treatment, he was referred to the Pandit Bhimsen Joshi Government Hospital in Bhayandar, where doctors declared him dead on arrival.

Following the accident, Mira Road police began verification of safety arrangements at the construction site. At present, an accidental death report has been registered as investigations continue. Officials are evaluating on-ground safety protocols, worker supervision and compliance with occupational safety rules, which are mandatory for elevated metro infrastructure work.

Simultaneously, the Mumbai Metropolitan Region Development Authority (MMRDA) initiated an independent inquiry. Preliminary findings pointed to lapses in safety practices by two contractor firms, Gajanan Construction and N A Construction. It was also reported that the general consulting firms, Systra India and CEG, failed to ensure strict adherence to mandated safety protocols and preventive measures.

A source familiar with the matter told Media that Ahmed was employed by Gajanan Construction, while Systra India–CEG served as the supervising consultants responsible for monitoring safety guidelines, risk assessments, and compliance at the site. Based on the inquiry’s conclusions, the MMRDA imposed a Rs 50 lakh penalty on the contracting consortium and an additional Rs 5 lakh penalty on Systra India–CEG for oversight failures.

Mumbai, Nov 18: Shiv Sena(UBT) on Tuesday said the Congress party’s announcement of going solo in the ensuing elections to the Brihanmumbai Municipal Corporation (BMC) will be ‘suicidal’, and the opposition unity is essential to checkmate the BJP.

The Thackeray camp, in its mouthpiece, ‘Saamana’, said unity was needed to stop the BJP plan to “hijack the election system through hooliganism, mob rule, excessive use of money and police force to separate Mumbai from Maharashtra”. It claimed that Maharashtra will not forgive those who go against the Marathi public sentiment.

“Bihar has once again shown the level at which the BJP and its ‘backbenchers’ play election games. At such a time, the only way is to come together and fight without playing this game of who has what ideology. We can discuss each other’s culture and ideology later. Rahul Gandhi has already spoken of teaching a lesson to the current Chief Election Commissioner, Gyanesh Kumar. That lesson can be taught only if the opposition remains united,” it warned.

The editorial warned of a split in votes if Congress decides to fight BMC elections independently, fearing that North Indian and Muslim voters will distance themselves from it. However, it argued that “Congress should not worry about the Muslims and North Indians in Mumbai. As Marathi, they will stand firmly by our side. We just need to give them confidence. These people are being crushed under the yoke of the BJP’s mob rule. Among those who are being displaced in parts of Mumbai, there are Hindi-speaking people and Muslims also. Are they going to carry the BJP’s palanquin? Absolutely not,” it said.

The Thackeray camp reminded the Congress party that the Muslim community voted for the Maha Vikas Aghadi in the Lok Sabha and the Assembly elections. “The help given by Uddhav Thackeray during the Corona period, regardless of caste or religion, resulted in Muslims voting for Shiv Sena. No matter how much the Congress fears, we are confident that Maha Vikas Aghadi, along with the Shiv Sena, will get those Muslim votes again,” it said.

The party in the editorial told the Congress party that it won’t be able to fulfil its wish that the North Indians, Hindi-speaking voters, and Muslims will 100 per cent vote due to its decision to go solo. “Well, you will fight independently in Mumbai. Then what about the other 27 municipal corporations? Will you continue to play the role of ‘Ekla Chalo Re’ (going solo) there too? It doesn’t seem so. The wisdom lies in the fact that all the Marathi people, as the religion of Maharashtra, should come together and raise their voice against the BJP. Maharashtra’s interest lies in that,” it said.

According to the editorial, the Congress party should avoid flip-flops this time, which was visible during the Samyukt Maharashtra Movement (demanding the creation of a separate ‘Marathi-speaking’ state Mumbai as its capital). “Keep aside the national ideas of the national party for now and think about how the Marathi people will unfurl the saffron flag atop BMC,” it said.

The Thackeray camp said, “Although it is true that each party fights with its own stance in politics, unity is needed as a Maha Vikas Aghadi. This unity was seen in the Lok Sabha and Assembly elections; therefore, Congress should be patient. There is no use in chasing the fugitive. Even if Congress decides to decide to go on its own, it will be its decision,” the editorial said.