Packing batteries with more punch
Indian researchers are working on cells that can store more energy, last longer
Gold prices Tuesday plunged Rs 600 to Rs 34,870 per 10 gram in bullion market here, tracking weak global trends amid a strong dollar and easing demand from local jewellers. Globally, spot gold was trading lower at $ 1,394.39 an ounce, while silver was down at $ 15.08 per ounce in New York.
“Spot gold ticked lower, held below $ 1,400 an ounce, due to a strong dollar which rallied to a three-week high. Reduced expectations of an imminent US interest rate cut supported the dollar,” Hareesh V, Head Commodity Research, Geojit Financial Services said.
“Weak demand expectation from the world’s second top consumer, India, due to a hike in duty also weighed down the sentiments. However, feeble global equities restricted major downside in the counter,” he said. Last week, in the Union Budget for 2019-20, the government proposed to increase customs duty on gold and other precious metals to 12.5 per cent from current 10 per cent.
Expectations that the US Federal Reserve will soon cut interest rates was one of the reasons behind gold’s recent spike to a six-year highs. However, strong gains in US employment data have cast doubt on Fed’s rate cut expectation, Hareesh said.
According to the All India Sarafa Association, gold of 99.9 per cent and 99.5 per cent purity plummeted Rs 600 each to Rs 34,870 per 10 gram and Rs 34,700 per 10 gram, respectively, in the national capital. Sovereign gold, however, held steady at Rs 27,300 per eight gram.
Silver
Meanwhile, silver ready declined by Rs 48 to Rs 38,900 a kg and weekly-based delivery slumped Rs 93 to Rs 38,000 a kg due to reduced offtake by industrial units. Prices of silver coins held flat at Rs 81,000 for buying and Rs 82,000 for selling of 100 pieces.
Indian researchers are working on cells that can store more energy, last longer
To fix a broken bone, doctors often harvest another bone from the patient’s body or from someone else. It ...
Superconductors from IIScScientists at IISc Bangalore have invented a device with a nanocrystal structure ...
Engineering and construction giant L&T has won a licence from the Council of Scientific & Industrial ...
The fund delivered a return of 31.5% in 2020 compared with the category’s 15.5%
Care Health Insurance’s new rider offers no great benefit. We review its pros and cons
Ensure that the investment thesis based on which you bought the IPO still holds good
Here are some yardstick for selecting auto component stocks
India is ready with two vaccines to beat the deadliest virus of recent times. The immunisation drive, however, ...
The storming of the Capitol on January 6 could be the prelude to yet another chapter in the US’s long and ...
‘Now It’s Come to Distances’ examines the defining moments of the past year — the Shaheen Bagh protests, ...
Legal and regulatory uncertainties hang like a sword on an industry which earned ₹2,470 crore revenues in the ...
Digital is becoming dominant media, but are companies and their ad agencies transforming fast enough to make a ...
Slow Network, promoted by journalist-lyricist Neelesh Misra, pushes rural products and experiences
How marketers can use the traditional exchange of festive wishes meaningfully
For Fortune, a brand celebrating its 20th anniversary, it was a rude shock to become the butt of social media ...
Three years after its inception, compliance with GST procedures remains a headache for exporters, job workers ...
Corporate social responsibility (CSR) initiatives of companies are altering the prospects for wooden toys of ...
Aequs Aerospace to create space for large-scale manufacture of toys at Koppal
And it has every reason to smile. Covid-19 has triggered a consumer shift towards branded products as ...
Please Email the Editor