Gold Prices on 30 Sep: Gold Rate Broken, Silver Price Dropped, It’s Right Chance To Buy.
Gold prices fell by Rs 154 to Rs 44,976 per 10 grams on Thursday 30 Sep in the national capital following a fall in international gold prices.
In the previous trade, it had closed at Rs 45,130 per 10 grams. Silver also declined by Rs 1,337 to Rs 57,355 per kg from Rs 58,692 per kg in the previous trade.
In the international market, gold was marginally higher at USD 1,733 an ounce and silver was flat at USD 21.64 an ounce.
According to Tapan Patel, Senior Analyst (Commodities), HDFC Securities, gold prices kept the trading range close to $1,730 an ounce on expectations of a weakening US Fed.
11.6 percent increase in the production of eight basic industries in August, the biggest increase in these sectors.
In August, output from eight core sectors, including coal, crude oil, and steel, grew by 11.6 percent. This information has been given in a data released by the government on Thursday.
The eight core industries include coal, crude oil, natural gas, refinery products, fertilizers, steel, cement, and electricity.
The weightage of these eight industries in the Index of Industrial Production (IIP) is 40.27 percent.
In these eight industries, there was a contraction of 6.9 percent in August 2020. August was the third consecutive month when growth was seen in the core sector.
According to the data, there was an increase in the production of coal, natural gas, refinery products, steel, cement, and electricity in August this year as compared to August last year.
On the other hand, there was a decline in the production of crude oil and fertilizer industries.
According to the data released by the government, in August 2021, an increase of 20.6-20.6 percent was recorded in the production of coal and natural gas as compared to the same month last year.
During the same period, the production of the cement sector registered a growth of 36.3 percent and that of the steel sector registered a growth of 5.1 percent year on year.
Petroleum refinery production grew by 9.1 percent and electricity generation by 15.3 percent.
However, there was a decline of 2.3 percent in the production of crude oil and 3.1 percent in the production of fertilizers.
During April-August, 2021-22, the growth rate of these industries related to basic sectors stood at 19.3 percent. There was a contraction of 17.3 percent in the same period last year.
Meanwhile, the growth rate of eight basic industries has been reduced to 16.4 percent in May 2021. In the figures released earlier, it was told at 16.8 percent.