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Gold prices jump sharply, silver surges ₹2,500 in a day
Gold and silver prices rose sharply in India after remaining range-bound for most part of the week. Gold futures on MCX rose ₹650 or 1.3% to ₹50,817 per 10 gram while silver futures surged 4% or ₹2,500 to ₹62,955 per kg on Friday. A softer US dollar and hopes of fresh US stimulus lifted global rates. “Precious metals gained on feeble dollar and on anticipation of US stimulus package. MCX precious metals moved in tandem with global benchmarks.” Geojit Financial Services said in a note.
US gold futures jumped over 2% on Friday to $1,925 an ounce. The dollar meanwhile slid 0.7% as expectations grew for a Biden win, making gold cheaper for those holding other currencies.
Low interest rates and unprecedented money printing by central banks to ease the economic blow from the coronavirus pandemic have driven a 26% rally for gold this year.
Additionally, a widening lead for Democratic presidential candidate Joe Biden has raised the prospect of further stimulus, adding to gold’s allure, say analysts.
The Trump administration is boosting its offer in COVID-19 aid talks in hopes of an agreement before Election Day. Trump on Friday took to Twitter to declare: “Covid Relief Negotiations are moving along. Go Big!”
A further drop in the dollar could add more fuel to the gold rebound, say analysts.
In India, the seventh tranche of sovereign gold bonds will open for subscription on Monday. The issue price for the sovereign gold bond has been fixed at ₹5,051 per gram of gold, the Reserve Bank of India (RBI) said in a statement on Friday.
“The nominal value of the bond based on the simple average closing price for gold of 999 purity of the last three business days of the week preceding the subscription period…works out to ₹5,051 per gram of gold,” the RBI said.
Investors who apply online and make payment through digital mode get a discount of ₹50 per gram. For such investors, the issue price of gold bond will be ₹5,001 per gram of gold.
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Haryana
Delhi Weather and AQI Today: Warm start at 22.05 °C, check weather forecast for October 22, 2024
Check the weather forecast and air quality updates for Delhi on October 22, 2024 here.
The temperature in Delhi today, on October 22, 2024, is 32.93 °C. The day’s forecast indicates a minimum and maximum temperature of 22.05 °C and 35.04 °C, respectively. The relative humidity is 26% and the wind speed is 26 km/h. The sun rose at 06:26 AM and will set at 05:44 PM.
Tomorrow, on Wednesday, October 23, 2024, Delhi is predicted to experience a minimum and maximum temperature of 27.42 °C and 34.91 °C, respectively. Tomorrow humidity levels will be at 20%.
With temperatures ranging between 22.05 °C and 35.04 °C, prepare for a hot day and plan outdoor activities accordingly. If you are sensitive to heat, take note of the weather forecast and consider appropriate attire and activities suitable for the prevailing weather.
The AQI in Delhi today stands at 334.0, falling in the very poor category. Everyone should be cautious. Children and people with respiratory diseases, such as asthma, should stay indoors and others should also limit their outdoor activities. Usage of masks and air purifying devices is advised. Being aware of the AQI helps one make informed decisions regarding one’s overall well-being while planning the day’s activities.
Weather and AQI predictions in Delhi for next 7 days:
Date Temperature Sky October 23, 2024 32.93 °C Sky is clear October 24, 2024 32.69 °C Sky is clear October 25, 2024 32.5 °C Sky is clear October 26, 2024 32.07 °C Sky is clear October 27, 2024 30.69 °C Sky is clear October 28, 2024 31.29 °C Sky is clear October 29, 2024 32.09 °C Sky is clear
Weather in other cities on October 22, 2024
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Delhi Weather and AQI Today: Warm start at 22.05 °C, check weather forecast for October 22, 2024
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