Gold nears Rs 90,000: Time to buy, hold, or book profits?
- Eklavya Kapoor
- Mar 18
- 2 min read
Gold acts as a hedge, and therefore, one may allocate around 5-15 percent to it. However, experts also warn against going extra bullish on gold at these higher levels

Guwahati: Speculation about the imposition of President's Rule in Manipur intensified on Tuesday as the ruling BJP struggled to decide on a new Chief Minister three days after Biren Singh's resignation.
BJP's Manipur in-charge, Sambit Patra, and the state party president, Sharda Devi, met with Governor Ajay Kumar Bhalla in the afternoon following separate discussions with MLAs and at least three candidates for the top position.
Minister Thongam Biswajit was among the first to meet Patra at a hotel in Imphal, followed by Speaker Thockchom Satyabrata Singh and Minister Yumnam Khemchand Singh. Patra also had a meeting with Biren Singh, who has been serving as the caretaker CM since Sunday. With no official announcement from either the BJP or Raj Bhavan, concerns about President's Rule grew.
Satyabrata and Khemchand are considered internal critics of Biren, while Biswajit was a strong candidate for the CM's position in 2022 when the BJP formed the government for a second consecutive term. In fact, Biswajit, who switched from Trinamool to BJP in 2015, brought Biren from Congress to BJP in 2016. However, the decision to appoint Biren as CM for a second term left Biswajit dissatisfied. Patra has been in Manipur since Sunday when Biren Singh resigned shortly after meeting Home Minister Amit Shah in New Delhi. The Governor asked Biren to remain as caretaker until "alternative arrangements" were made. Since then, the BJP has been trying to agree on a consensus candidate to avoid President's Rule. Patra also met with MLAs from its allies, the National People's Party, Naga People's Front, and Janta Dal (United).
The BJP's failure to choose Biren's successor could lead the state towards President's Rule.
According to section 174 of the Constitution, there can be a maximum gap of six months between two Assembly sessions. The last session ended on August 12, and the deadline will expire on Wednesday.
The Opposition Congress, which intended to propose a no-confidence motion against the Biren government in the Assembly on Monday, stated they are not in favor of President's Rule and prefer a popular government to remain in power in the state, which has been dealing with the Meitei-Kuki conflict since May 2023. The BJP has 37 MLAs in the 60-member House, but at least 10 Kuki MLAs, including seven from the BJP, have kept their distance since the Meitei-Kuki conflict began in May 2023. The party's concerns grew when several MLAs skipped a meeting called by Biren in November and later on Friday, with many even urging the high command to replace Biren.
Biren resigned a day before Congress's threat of a no-confidence motion in the Assembly on Monday. On Sunday, Governor Bhalla declared his order for the Assembly session scheduled from February 10 "null and void." All eyes are now on the Raj Bhavan.
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