Thu, Feb 1, 2024 10:59 AM
Hit by high prices, India’s gold demand lost shine in 2023
A Flip by Shubhangi Gupta
RITES shares surged over 3% after signing a Memorandum of Understanding with SAIL-Bokaro Steel Plant for project management consultancy services and securing a Rs 59.13 crore contract from UP State Bridge Corporation Limited for infrastructure project supervision. RITES shares are up 21% this year and 31% in the past 12 months.
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The dollar hovered near a 3-month high on Wednesday in a critical week for economic data that may indicate the direction of U.S. monetary policy. However, the Australian dollar edged closer to a 3-month low. It’s because the inflation trends suggested that an interest rate cut by the Reserve Bank of Australia is unlikely this year. Mixed U.S. data overnight, indicating a softening job market.
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Gold and Silver Prices Today: Gold prices experienced a slight increase on Wednesday. The cost of 24 carat gold is Rs.8063.3 per gm, reflecting an increase of Rs.670.0. The cost of 22 carat gold is Rs.7393.3 per gm, which is up by Rs.620.0.The price change in 24 carat gold over the past week has been -0.25%, while in the last month it has seen a decline of -3.79%.
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