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Malabar Gold & Diamonds Awarded Scholarships to 350+ Girl Students in Ghatkopar Reinforcing its vision of Women Empowerment

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Malabar Group, India’s leading business conglomerate and the parent company of Malabar Gold & Diamonds, reaffirmed its commitment to empowering young women through education by awarding scholarships worth ₹29,00,000 to over 350 deserving girl students across 30+ schools.

The scholarship distribution ceremony was held at Zaverben Popatlal Sabhagruha Auditorium, Ghatkopar, Mumbai, where financial aid was provided to ensure these students can pursue their academic aspirations without constraints. This initiative reflects Malabar Group’s dedication to fostering education and enabling young women to build a brighter future.

The event was graced by the presence of Shri Sanjay Mukund Kelkar, Member of the Maharashtra Assembly, as the chief guest. His participation underscored the importance of collective efforts in promoting women’s education, further strengthening their role in society and helping them achieve a position of dignity and respect.

Speaking in regards to the initiative, MP Ahammed, Chairman, Malabar Group, said, “Providing Education to young girls is the most effective ways of ensuring positive change as education lays the foundation of a progressive nation, and equipping young women with the means and knowledge for betterment is one of the most impactful ways of ensuring a brighter future. These scholarships are not just supposed to be an economic aid to the students; but they are also investments in the future of our society, ensuring that no young girl has to compromise on reaching the pinnacle of her potential, due to financial misfortune”

Since its establishment in 1999, the Malabar Charitable Trust has been at the forefront of numerous social welfare initiatives. Malabar Group dedicates 5% of its annual profits to CSR activities, focusing on education, healthcare, environmental sustainability, and poverty alleviation.

The Malabar Scholarship program, a flagship initiative under the Group’s CSR framework, continues to bridge educational gaps for marginalized communities. By fostering academic opportunities for young girls, Malabar Group aims to create a ripple effect of progress that extends beyond individuals to families and entire communities.

The group’s overarching narrative to support education and skill development across India is further highlighted by this Scholarship distribution event in Mumbai. Malabar Group’s broader mission to support sustained initiatives has seen the Group remain committed to empowering future generations and fostering an inclusive, educated society for all.

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National News

Gold Prices Slump as Fed Rate Cut Optimism Diminishes

Bullion weakens on MCX as fading U.S. rate-cut hopes and firm crude oil prices trigger selling pressure in gold and silver.

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Gold prices faced significant selling pressure in early Monday trading as shifting macroeconomic signals dampened investor sentiment. On the Multi-Commodity Exchange (MCX), gold futures dropped over 1% earlier today, driven by fading expectations for Federal Reserve interest rate cuts and the inflationary impact of crude oil sustained above $100 per barrel.

Market Performance Highlights

In early trade, precious metals showed the following movements on the MCX:

  • Gold (April Futures): Trading at Rs 1,57,275 per 10 grams (down 0.75%), recovering slightly from a session low of Rs 1,56,655.
  • Silver (May Futures): Trading at Rs 2,56,190 per kg (down 1.25%), up from a daily low of Rs 2,55,106.

Domestic Retail Prices

The correction in the futures market has trickled down to physical retail rates across major Indian metros. The price for 24K gold saw an average dip of Rs 49 in early trade.

  • 22K Gold (per 10g): Rs 1,45,900
  • 22K Gold (per 10g): Rs 1,46,020
  • 22K Gold (per 10g): Rs 1,47,590

Key Market Drivers

The current volatility is attributed to two primary factors:

  1. Hawkish Fed Outlook: Robust economic data has led markets to price in a “higher-for-longer” interest rate environment, reducing the appeal of non-yielding assets like gold.
  2. Energy Pressure: With crude oil prices holding firm above $100, concerns over persistent inflation are complicating the central bank’s path toward monetary easing.

Despite the intraday decline, gold remains a focal point for investors navigating ongoing geopolitical tensions and global currency fluctuations.

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