A total of 86,000 quintals (about 8,600 tonnes) of government-procured wheat in Madhya Pradesh reportedly went missing while being transported to warehouses. Sagar district alone accounted for 14,000 quintals valued at Rs 4 crore, even as the losses were reported across 14 major wheat-producing districts. The shortfall has been described as a confirmed physical supply loss rather than paper shrinkage or natural drying, directly affecting seasonal stock availability and regional supply stability.

On July 3, gold prices in India rose Rs 3,300 in a day to Rs 1,50,800 per 10 grams, moving back above the Rs 1.5 lakh level. Silver climbed Rs 5,000 to Rs 2,45,000 per kilogram. Spot gold gained 1.4% to USD 4,181.50 an ounce, while spot silver rose 2.44%. Analysts said a softer dollar index and fading expectations of further Fed rate hikes, reinforced by weaker-than-expected US jobs data and remarks from officials, supported precious metals.

India’s Ministry of Electronics and Information Technology ordered the removal of three battery-management apps—BAT-BMS, Lossigy and Epoch Li-ion—after they were used to remotely disable e-rickshaw batteries. Google Play Store and Apple App Store have taken the apps down. The move is a compliance response to a regulatory directive and does not involve product defects, revenue losses or a major policy shift. The impact on the two companies’ core operations and finances is expected to be limited.

On July 2, gold prices in India rebounded by Rs 3,000 to Rs 1.47 lakh per 10 grams, while silver rose to Rs 2.40 lakh per kg. The move followed a less hawkish tone from US Federal Reserve Chair Kevin Warsh, which eased rate-hike concerns, alongside a stronger yen that helped push the dollar index (DXY) lower. In global markets, spot gold climbed 1% to USD 4,070.04 per ounce and silver rose 1.3% to USD 59.89 per ounce.

Gold prices in Delhi fell Rs 1,300 on July 1 to Rs 1,44,500 per 10 grams, marking a second straight session of losses. In global markets, spot gold slid USD 21.75 to USD 3,986.07 per ounce, extending its decline to a third day. The US dollar index rose 0.15% to 101.34, adding pressure on bullion. Silver moved higher in Delhi, with prices rising to Rs 2,35,000 per kilogram.

Escalating military conflict between the US and Iran has stalled negotiations, but gold has still fallen for two straight weeks. Comex gold slid 3.5% on the week to USD 4,096.3 per ounce, while silver dropped 10.7% to USD 59.67 per ounce. In India, MCX gold August futures fell 2.06% and MCX silver September futures declined 6.4%. Analysts cited a stronger US dollar, a near-10% drop in crude oil that eased inflation concerns, and rising US Treasury yields as key factors weighing on precious metals.

Rajesh Exports shares hit the 5% intraday lower circuit after the Serious Fraud Investigation Office (SFIO) said it would launch a formal fraud probe. The move follows Enforcement Directorate (ED) searches under the Foreign Exchange Management Act (FEMA) that flagged suspected revenue manipulation, missing overseas-transaction documents and unusual pay structures, while Sebi issued an interim order on June 3 barring the promoter from trading the company’s securities. The company, India’s largest gold refiner and jeweller, denied the allegations and said it will contest them through legal channels.

Brent crude fell 1.70% to $72.49 a barrel, a notable recent decline. For India, a net crude importer, lower oil prices can ease imported inflation pressures and improve expectations for corporate earnings. In the same period, the Sensex and Nifty jumped, with markets viewing weaker oil as a key support. Major Asian equity benchmarks mostly rose, although Hong Kong’s Hang Seng closed lower, while foreign investors extended net selling with a one-day outflow of ₹1,843.40 crore.

Blue Cloud Softech said it is in non-binding discussions with SpaceX on potential collaboration in artificial intelligence technologies, sending its shares up 17% to ₹21.67 and outperforming the broader market. The Indian small-cap IT services firm has a market capitalisation of about ₹1,592 crore. The company said the talks are at an early stage with no legal commitment, and any deal would require due diligence, approvals and definitive agreements. The announcement also fuelled short-term trading interest in AI-themed small-cap stocks.