Gold price plummeted by Rs 470 to Rs 44,900 per 10 gm on Friday, while
Silver price slipped by Rs 1,700 to trend at Rs 66,200 per kg, according to the Good Returns website.
Gold jewellery price varies across India, the second-largest consumer of the metal, due to excise duty, state taxes, and making changes. In New Delhi, the price of 22-carat gold slipped by Rs 650 to Rs 43,950 per 10 gm, while in Chennai it inched down by Rs 470 to Rs 42,170. In Mumbai, the rate fell to Rs 43,900, according to the website. The price of 24-carat gold in Chennai also decreased by Rs 500 to retail at Rs 46,020 per 10 gm.
(Bloomberg) Dip buyers drove a rebound in stocks after an earlier bout of selling pushed the Nasdaq 100 down 10% from a record. All major groups in the S&P 500 advanced, while the tech-heavy gauge climbed more than 1.5% as giants Amazon.com Inc. and Apple Inc. erased their losses. Robinhood Markets Inc., the trading platform behind the boom-and-bust swing in GameStop Corp.’s shares, has chosen the Nasdaq for its eventual initial public offering, according to a news report. Earlier Friday, equities retreated as U.S. jobs data topped estimates, fueling anxiety the economy could run too hot and kick up inflation. Benchmark 10-year yields stabilized after hitting 1.6%. Friday’s turnaround in financial markets wiped out the S&P 500’s drop for the week. The intense volatility of the past few days was a test to stock bulls who see the recent spike in Treasury yields as an indication of brighter prospects for the economy and corporate profits. While concern over equity valuations have