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Gold price slides Rs 188 to Rs 48,444 per 10 gm, silver is 48,870 per kg
Posted on 8th July 2020
Gold prices on Wednesday dropped Rs 188 to settle at Rs 48,444 per 10 gram while silver prices also plunged Rs 463 from Rs 49,333 to close at Rs 48,870 per kg, according to the Indian Bullion and Jewellers Association.

Gold jewellery prices vary across India, the second-largest consumer of the metal, due to excise duty, state taxes, and making charges.

In Delhi, 22-carat gold prices slid to Rs 47,250 per 10 gm while 24-carat was retailing at Rs 48,450. In Chennai, 22-carat gold was priced at Rs 46,410 while the other other variant was sold at Rs 50,620. In Kolkata price of 22-carat was Rs 47,600 while in Mumbai the same variant would cost Rs 46,620, according to the Good Returns website.

However, on MCX price of August gold futures jumped 1.16% to Rs 48, 785 per 10 gram. Silver September futures soared 0.86% Rs 50,220 per kilogram.

MCX received approval of Sebi for the launch of Gold Mini options with Gold Mini (100 grams) bar as underlying, MCX said in a statement.

Gold Mini Option August 2020, September 2020 and October 2020 contracts will be available for trading with effect from July 10, it added. The maximum single order size will be of 100 lots, it notified.

Gold prices in the national capital jumped by Rs 102 to Rs 49,228 per 10 gram on Tuesday amid rupee depreciation, according to HDFC Securities. "Spot gold prices for 24 carat in Delhi were up by Rs 102 amid rupee depreciation," HDFC Securities Senior Analyst (Commodities) Tapan Patel said.

The rupee extended the losses and settled 25 paise lower at 74.93 (provisional) against the US dollar on Tuesday.

In international market, gold prices held steady near an eight-year high on Tuesday as investors weighed a spike in Covid-19 cases around the world against a survey showing a rebound in US services industry activity and expectations of a revival in China's economy.

Spot gold was almost unchanged at $1,783.56 per ounce by 0652 GMT, just $5.40 shy of a near eight-year high hit last week. US gold futures edged 0.1% higher to $1,794.40.

Other Latest News
Noida gets 400-bed Covid-19 hospital, CM Yogi Adityanath reviews facilities
Posted on 8th August 2020
Uttar Pradesh Chief Minister Yogi Adityanath on Saturday inaugurated a dedicated 400-bed government hospital for COVID-19 patients in Noida.

The facility is located in Sector 39 of the city and has come up in association with the Tata Trusts and the Bill and Melinda Gates Foundation, according to officials.

Gold price today at Rs 56,050 per 10 g; silver at record Rs 76,510 a kg
Posted on 8th August 2020
Gold prices today jumped to Rs 56,050 from Rs 55,350 per 10 gram, while silver climbed to Rs 76,510 from Rs 73,500 per kg, according to Good Returns website.

Gold jewellery prices vary across India, the second-largest consumer of the metal, due to excise duty, state taxes, and making charges.

US election: China would love to have me lose to 'sleepy' Biden, says Trump
Posted on 8th August 2020
US President Donald Trump on Friday (local time) said that China would love to have an election if he lost to his sleepy Democrat presidential candidate Joe Biden.

China would love for us to have an election where Donald Trump lost to sleepy Joe Biden. They would dream (that) they would own our country. If Joe Biden was president, China would rule our country, he told reporters here.

Facebook builds 600 affordable homes to address housing crisis in US
Posted on 8th August 2020
Facebook has produced and preserved approximately 600 affordable homes near its headquarters in Menlo Park, California, of which roughly 70 per cent are reserved for extremely low and very low-income residents.

The company said it is on track to creating approximately 750 affordable homes by 2022.

Amazon, Flipkart set to witness business worth $600 mn during sale events
Posted on 8th August 2020
E-commerce companies Amazon and Flipkart are expecting to witness a total business of about $600 million during their ongoing sale events. This is at least 25 per cent higher in terms of sales compared to the business these firms would have generated for such small scale events during pre-Covid times, according to the industry insiders and analysts. They are also witnessing an increase in volumes (number of orders) which is 40 per cent higher than the normal times. Walmart-owned Flipkart is running the 5-day ‘Big Saving Days’ sale till Monday, coinciding with Amazon's 48-hour Prime Day sale which ended on Friday night.

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