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Gold up on inflation data

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9 years ago

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Chicago: Gold futures on the COMEX division of the New York Mercantile Exchange rose on Thursday as technical trading gave support to the precious metal after the release of inflation data.

The most active gold contract for December delivery rose $7.7, or 0.65 percent, to settle at $1,187.50 per ounce, as per reported.

Gold was given support by technical trading after a report from the US Department of Labor showed the Consumer Price Index falling by 0.2 percent.

Analysts believe this indicates to traders that there is a further decreasing chance for the US Federal Reserve to raise interest rates by the end of 2015.

The two Fed targets are for approximately 5 percent unemployment, and for 2 percent inflation. While analysts note that inflation is up slightly in the year-over-year report, it has not yet met the central bank’s 2 percent requirement.

The CME Group’s Fedwatch tool shows only a 30 percent chance of an interest rate increase during the December Federal Open Market Committee meeting.

The precious metal was put under pressure as the US Department of Labor’s weekly jobless claims showed initial jobless claims falling by 7,000 during the October 10 week to 255,000.

Analysts note that this matches the lowest level in 42 years. As a result, expectations have been raised for the October employment report.

As a result of the positive US data, the US Dollar Index, a measure of the greenback against a basket of major currencies, gained 0.51 percent to 94.39 as of 1807 GMT.

Gold and the dollar typically move in opposite directions, which means if the dollar goes up, gold futures will fall as gold, measured by the dollar, becomes more expensive for investors.

Silver for December delivery rose 4.7 cents, or 0.29 percent, to close at $16.164 per ounce. Platinum for January delivery added $11.6, or 1.17 percent, to close at $1,007.0 per ounce.

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

Published

2 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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