Ahmedabad, Aug 16: Gujarat Chief Minister Bhupendra Patel departed from Ahmedabad in the early hours of Sunday for a visit to the United States and Canada aimed at attracting global investment and inviting investors and industry leaders to the Vibrant Gujarat Global Summit 2027.

CM Patel is leading a high-level state delegation that will engage with investors, industry associations, emerging technology leaders and members of the Gujarati community during the overseas outreach.

The visit comes ahead of the summit scheduled for January 2027, with the state stepping up international engagement to showcase its industrial and economic opportunities.

The delegation will hold roundtable conferences and one-to-one meetings in Washington DC, New York and San Francisco in the US, followed by engagements in Toronto, Canada.

The meetings are intended to present Gujarat’s development and investment opportunities and extend invitations to participate in the Vibrant Gujarat Global Summit.

Chief Secretary M.K. Das; Additional Chief Secretary of Finance, T. Natarajan; Additional Chief Secretary of Industries and Mines, Mamta Verma; Principal Secretary to the Chief Minister, Sanjeev Kumar; and Additional Principal Secretary to the Chief Minister, Dr Vikrant Pandey; are accompanying CM Patel, along with representatives from the state’s trade and industry sector.

Officials said the delegation would particularly engage with investors and leaders in emerging technology sectors while also reaching out to the Gujarati diaspora.

The overseas meetings form part of Gujarat’s broader preparations for the 2027 summit, with international outreach programmes planned to build participation and investment interest.

The visit also marks the first official trip to the US by a sitting Gujarat Chief Minister since 1995, according to reports.

CM Patel’s tour is scheduled to cover the US and Canada from August 17 to 24.

The Chief Minister’s departure from Ahmedabad Airport was attended by officials including Collector Bhavya Verma, who extended their wishes for the visit.

The Vibrant Gujarat Global Summit, conceived in 2003, has developed into an international platform for business networking, investment and strategic partnerships. The next edition is scheduled for January 2027.

New Delhi, Aug 14: Gold and silver prices traded sharply lower on Friday amid heightened geopolitical uncertainty after US Treasury Secretary Scott Bessent warned of never-before-seen economic measures against Iran.

On the Multi Commodity Exchange (MCX), gold futures (October) declined as much as 0.8 per cent or Rs 1,233 to Rs 1,52,233, hitting an intraday low by 10:22 am.

At the last count, the yellow metal was trading at 1,52,415, down Rs 1,051 or 0.68 per cent. It touched an intraday high of Rs 1,53,200 so far in the session, a decrease of 0.17 per cent or Rs 266 from the previous close.

Similarly, silver futures (September) recorded an intraday low of Rs 2,32,454, decreasing 1.27 per cent or Rs 2,993.

The white metal was trading at Rs 2,32,880, down Rs 2,567 or about 1 per cent. It touched an intraday high of Rs 2,33,982, down 0.62 per cent or Rs 1,465.

Earlier in the day, gold and silver opened at Rs 1,53,200 and Rs 2,33,780, respectively on the MCX.

The selling pressure in precious metals came after reports suggest that Bessent said the US would use a combination of economic isolation and a continued blockade of the Strait of Hormuz.

According to market experts, MCX Gold extends downside momentum, trading near Rs 152,500 after facing rejection from highs near Rs 155,500.

They further noted that immediate resistance is placed at Rs 153,000–Rs 153,500 near open and a decisive move above could push toward Rs 154,000–Rs 154,500.

Immediate support is seen at Rs 152,000–Rs 151,500, followed by stronger support at Rs 151,000, the experts said adding that price continues to hold comfortably above all major EMAs, but MACD indicates slowing bullish momentum and RSI reverses from overbought territory, reflecting possible near-term pressure.

For MCX Silver, the experts stated that immediate support is seen at the Rs 232,000 zone, followed by stronger support at Rs 231,500–Rs 231,000.

Price breaks below the 20-day EMA, with MACD indicating slowing bullish momentum, while RSI eases, supporting the trend-reversal narrative and reflecting near-term pressure. Bias remains cautious, with a break below Rs 232,000 likely to invite further downside.

New Delhi : Robust foreign currency non‑resident (bank) FCNR(B) inflows and related measures from RBI are now expected to generate $90–95 billion of capital inflows in FY27, lifting India’s balance of payments to a surplus of $64 billion, a report has said.

The report from CareEdge Ratings said the agency has revised up its FCNR(B) projection to about $80 billion and expects External Commercial Borrowings and Overseas Foreign Currency inflows at $10–15 billion.

Consequently, India’s capital account surplus is now expected to increase to approximately $108 billion, compared with a surplus of just $2 billion in the previous year

The report added that the BoP is forecast to improve to a $64 billion surplus in FY27 from deficits of $23.6 billion in FY26 and $5 billion in FY25.

“This would represent a substantial strengthening of India’s external position and provide an important buffer against global volatility,” the ratings agency said.

The concessional swap windows for FCNR(B) deposits, External Commercial Borrowings (ECBs) and Overseas Foreign Currency Borrowings (OFCBs), amongst other policy measures announced on June 5, 2026, have seen a strong response.

The firm noted these measures have attracted USD 40.8 billion, with FCNR(B) inflows accounting for $36.7 billion, and ECBs and OFCBs together accounting for $4.1 billion between June 5 and July 31, 2026.

Large banks are currently offering deposit rates in the 6.0-6.5 per cent range, while some smaller and newer banks are offering rates close to 7 per cent for FCNR deposits.

Additionally, the availability of significant leverage for investors, with some foreign banks reportedly offering leverage as high as 19-fold to 29-fold in some cases, appears to have enhanced the attractiveness of the scheme and supported stronger-than-expected participation.

The report noted that strong capital inflows could ease domestic liquidity as banking system liquidity averaged around Rs 1.1 trillion in July and has risen to Rs 3 trillion so far in August, supported by month‑end inflows.