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Gold down on stronger US dollar

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9 years ago

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Chicago: Gold futures on the COMEX division of the New York Mercantile Exchange fell as the US dollar strengthened, putting pressure on the precious metal.

The most active gold contract for December delivery on Friday fell $1.6 (0.15 percent) to settle at $1,076.30 per ounce, as per reported.

The US Dollar Index, a measure of the dollar against a basket of major currencies, rose on Friday. Gold and the dollar typically move in opposite directions.

Gold was put under further pressure as a report released by the US Federal Reserve showed the Kansas city district’s manufacturing index up by two points to positive one, which analysts note is the first positive reading since February.

The new orders reading has risen to positive five, and the production reading is at positive three.

The precious metal reached a near six-year-low on Friday, but rebounded on technical trading. It still closed lower than the previous day.

Analysts believe that the only reason that gold has not fallen further than it already has on Friday is because of technical trading.

The potential for a rate hike at the December Federal Open Market Committee (FOMC) meeting has kept prices within a tight and low channel.

Expectations were originally for a delay in the rate hike till 2016 but the FOMC meeting in late October left the door open for the Fed to raise rates before the end of 2015.

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.

Silver for December delivery fell 12.6 cents (0.89 percent) to close at $14.096 per ounce.

Platinum for January delivery dropped $2.2 (0.26 percent) to close at $855.90 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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