Gold drops ₹199; silver tumbles ₹250
In the previous trade, gold had closed at ₹46,588 per 10 grams
Gold in the national capital on August 30 dipped ₹199 to ₹46,389 per 10 gram amid a correction in global precious metal prices along with rupee appreciation, according to HDFC Securities.
In the previous trade, the precious metal had closed at ₹46,588 per 10 grams.
Silver also dipped ₹250 to ₹62,063 per kilogram from ₹62,313 per kilogram in the previous trade.
The Indian rupee appreciated 31 paise to 73.38 against the U.S. dollar in opening trade on August 30, tracking a positive trend in domestic equities.
In the international market, gold was trading lower at $1,814 per ounce and silver was flat at $23.99 per ounce.
36692 New COVID Cases, 200 Deaths In US
With 36692 new cases of coronavirus infections reporting in the United States on Sunday, the national total has increased to 37,711,159, as per the latest data from Johns Hopkins University.
200 additional casualties took the national COVID death toll to 628,504.
As usual, Sunday’s lower metrics are attributed to reporting delays on holidays.
California reported the most number of cases – 11,958 – at the weekend while Texas – 60 – reported most COVID-related deaths.
California is the worst affected state in terms of both the COVID metrics, with 4,234,113 cases and a total of 65,140 people dying due to the disease there.
A total of 1,152,222 tests were conducted nationally, according to data compiled by New York Times.
The 7-day average of percent positivity from tests is 9.7 percent.
There is significant rise in the number of people hospitalized due to coronavirus infection in the country. The number has risen to 92,482, marking 43 percent increase in a fortnight.
A total of 30,472,804 people have so far recovered from the disease.
As per the latest data published by the Centers for Disease Control and Prevention, a total of 170,821,621 people in the United States have been fully vaccinated against the coronavirus. This includes 81.2 percent of people above 65.
A total of 201,425,785 people, or 60.7 percent of the population, have received at least one dose.
A total of 362,657,771 vaccine doses have been administered so far nationally.
Paulson says cryptocurrencies will eventually be ‘worthless’
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John Paulson, the hedge fund billionaire who made a fortune in 2008 when he shorted the housing bubble, said in an interview published Sunday that he believes cryptocurrencies will eventually go bust.
The 65-year-old told "Bloomberg Wealth with David Rubenstein" that he wouldn't recommend the investment to anyone. He said there is a cryptocurrency bubble that will "eventually prove to be worthless."
"I would describe them as a limited supply of nothing," he said. "So to the extent there’s more demand than the limited supply, the price would go up. But to the extent the demand falls, then the price would go down. There’s no intrinsic value to any of the cryptocurrencies except that there’s a limited amount."
The Bloomberg report pointed out that Paulson is a big believer—and buyer– of gold despite digital assets outperforming the metal.
Digital currencies, like Bitcoin, have been left largely unregulated by major governments up to this point.
The Wall Street Journal reported in July that Paulson announced that he will convert his hedge fund into a private investment firm after experiencing some declines. The Bloomberg report called his results after the famous short "mixed."
The Associated Press contributed to this report
Affirm Holdings Maintains Bullish Trend
Affirm Holdings, Inc. (AFRM) shares are gaining more than 39 percent on Monday morning trade continuing a bullish trend since Friday after the company reported an offer on Amazon for buy now, pay pater option to online retailers customers. There were no specific corporate announcements today to influence the market movement.
Currently, shares are at $94.71, up 39.06 percent from the previous close of $67.90 on a volume of 16,493,157. The shares have traded in a range of $46.50-$146.90 on a volume of 2,929,106.
Herald morning quiz: August 31
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Right-Wing Radio’s ‘Mr. Anti-Vax’ Marc Bernier Dies Of Coronavirus
A conservative radio host in Florida who was openly opposed to the coronavirus vaccine has died of the COVID-19 infection after a three-week battle with the disease.
Marc Bernier’s final tweet, sent July 30, compared the vaccination and virus mitigation efforts to Nazi Germany.
Radio station WNDB ― News Daytona Beach ― confirmed the news on Twitter on Saturday.
He was 65.
The Daytona Beach News-Journal noted a broadcast in December in which Bernier announced he wasn’t getting the vaccine.
“Come on!” replied co-host Justin Gates.
Bernier fired back: “Are you kidding me? Mr. Anti-Vax? Jeepers.”
“Ever?” asked Gates.
“No,” Bernier said.
Mark McKinney, the station’s operations director, told the newspaper earlier this month that he wasn’t sure if Bernier was vaccinated but noted: “If you’ve listened to his show, you’ve heard him talk about how anti-vaccine he is on the air.”
Florida has battled a surge of infections, hospitalizations and deaths, including a record number of deaths in a single day due to the pandemic. However, Gov. Ron DeSantis (R) has actively resisted most efforts at controlling the spread of the virus, and has attempted to ban mask and vaccine requirements.