Connect with us

Business

Gold up on short covering

Published

9 years ago

on

Chicago: Gold futures on the COMEX division of the New York Mercantile Exchange rose on Friday as the US dollar showed weakness, along with short covering by traders.

The most active gold contract for February delivery rose $22.9 (2.16 percent) to settle at $1,084.10 per ounce, as per reported.

For the week, gold futures added 2.64 percent, its first weekly gain since October 16.

Gold was given support on Friday as the US Dollar Index fell by 0.43 percent to 98.34, as the market continued to react to the decisions of the European Central Bank Meeting (ECB), which showed a smaller-than-expected expansion of the ECB’s bond-buying stimulus plan, according to analysts.

Gold was given further support as traders stayed with short positions as the expectations rose for a rate hike at the US Fed’s Federal Open Market Committee (FOMC) meeting scheduled for December 15-16, following a report released by the US Department of Labour on Friday.

It showed nonfarm payrolls increasing to 211,000 in November. Analysts also noted that the previous two months were revised upward by 35,000, giving further credibility to the prospect of a December rate hike.

Analysts believe that the market has now fully factored in the expected December rate hike. The CME Group’s implied probability for that month’s FOMC meeting is now at 78 percent.

Silver for March delivery added 45.1 cents (3.20 percent) to close at $14.528 per ounce.

Platinum for January delivery rose $33.1 (3.91 percent) to close at $880.60 per ounce.

Related Topics:
Continue Reading

Business

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

Published

3 years ago

on

May 5, 2022

By

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.

Continue Reading

Trending