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Gold down on technical trading, positive US data

Published

9 years ago

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Chicago: Gold futures on the COMEX division of the New York Mercantile Exchange fell on Monday as technical trading and positive US data weighed on the precious metal.

The most active gold contract for December delivery fell $5.5 (0.48 percent) to settle at $1,135.90 per ounce, as per reported.

The precious metal was put under pressure as the Institute for Supply Management on Monday said the October PMI registered 50.1 percent, a decrease from the September reading of 50.2 percent, but above market expectations of 50.0 percent.

Gold was further weighed as the US Department of Commerce said the Purchasing Managers’ Manufacturing Index (PMI) rose to 54.1, which is the strongest reading since April 2015.

The positive data is fuelling speculation about possibility for the US Federal Reserve to raise its interest rates during the December Federal Open Market Committee meeting.

The CME Group’s Fedwatch tool puts the current odds of a rate hike at 47 percent.

An increase in the Fed’s interest rate drives investors away from gold and towards assets with a return, as the precious metal bears no interest.

Expectations were originally for a delay in the rate hike until 2016. There has not been an increase in the Fed’s interest rate since June 2006, before the beginning of the American financial crisis.

Silver for December delivery fell 15.9 cents (1.02 percent) to close at $15.408 per ounce.

Platinum for January delivery dropped $10.7 (1.08 percent) to close at $978.40 per ounce.

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Apple is giving a huge discount on its gadgets: Details inside

Published

3 years ago

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May 5, 2022

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If you want to buy an iPhone and were waiting for a nice offer, then we have a piece of good news for you! Amazon Summer Sale May 2022 has begun and they are offering major discounts on various smartphones, laptops, and smart TVs, among others.

The sale is live now on the e-commerce platform with no-cost EMI options and exchange discounts on various products. In addition to this, Amazon has also partnered with several banks including ICICI, Kotak Bank, and RBL so that customers get instant discounts of up to 10% using their cards and EMI transactions.

Customers can easily enjoy this summer sale and get massive discounts on iPhones. They can also compare prices on Flipkart Big Saving Days Sale 2022 before making a purchase.

 

Amazon Summer Sale May 2022: Discount offer on iPhone 13 

Apple’s coveted phone model iPhone 13 in the 128 GB storage model will be available during the Amazon Summer Sale May 2022 for Rs 64,900. The MRP of the phone is Rs 79,900. This means that the customers will be able to enjoy a discount of up to Rs 15,000 on the purchase of the iPhone 13.

If you have an old iPhone in working condition then you will also be eligible to receive another additional discount worth up to Rs 17,000 on the iPhone 13.

Buy at Rs. 64,900 (MRP – Rs. 79,900)

Features of Apple iPhone 13 

The iPhone is powered by an A15 Bionic processor with 6 core CPU. Apart from this, it has 16 core neural engines. With the iPhone 13, up to 512 GB of storage will be available. The iPhone 13 has a 6.1-inch Retina XDR display with 1000 nits brightness.

The iPhone 13 has a 12-megapixel dual rear camera setup. This time a new wide-angle camera has been given, whose aperture is f/1.6. With this, there is support for sensor optical stabilisation. Night mode has been made better than before. The second lens is also 12 megapixels ultra-wide and has an aperture of f/2.4.

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