Gold, silver price today, Nov 30, 2022: Precious metals record hike on MCX| Check latest rates here

Gold, silver price today, Nov 30, 2022: Precious metals record hike on MCX| Check latest rates here

By India Today Web Desk: For the second time in a row, both gold and silver are trading on the higher side of the Multi Commodity Exchange (MCX).

Witnessing a marginal hike of Rs 72 or 0.11 per cent, silver futures, maturing on March 3, 2023, were retailing at Rs 62,880 per kg.

Meanwhile, gold futures, maturing on February 3, 2023, recorded a downfall of Rs 83 or 0.16 per cent, and were trading at Rs 53,057 per 10 grams.

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Notably, the prices of gold and silver stood at Rs 52,984 per 10 grams and Rs 62,836 per kg respectively when the market closed on November 28.

GOLD, SILVER PRICES IN MAJOR CITIES

CITYGOLD (per 10 grams, 22 carats)SILVER (per kg)
NEW DELHIRs 48,700Rs 61,400
MUMBAIRs 48,550Rs 61,400
KOLKATARs 48,550Rs 61,400
CHENNAIRs 49,360Rs 68,000
Notably, the gold and silver prices in India depend on several factors, including the value of the rupee against the dollar. Global demand also plays a key role in determining the trends observed in the rate of precious metals.

FTC sues to block Microsoft’s $69 billion acquisition of Activision Blizzard

WashingtonCNN — 

The Federal Trade Commission on Thursday sued to block Microsoft’s $69 billion acquisition of Activision Blizzard, challenging one of the largest tech acquisitions in history.

The administrative complaint filed Thursday by the FTC alleges that the blockbuster deal, which would make Microsoft the third-largest video game publisher in the world, would give Microsoft “both the means and motive to harm competition” — claiming it could negatively affect prices of video games as well as game quality and player experiences on consoles and gaming services, according to an agency release.

“We continue to believe that this deal will expand competition and create more opportunities for gamers and game developers,” Brad Smith, Microsoft’s president, said in a statement Thursday. “We have been committed since Day One to addressing competition concerns, including by offering earlier this week proposed concessions to the FTC. While we believed in giving peace a chance, we have complete confidence in our case and welcome the opportunity to present our case in court.”

In an email sent to employees and provided to CNN, Activision CEO Bobby Kotick said the FTC suit may sound “alarming” but he remains confident the deal will close. “The allegation that this deal is anti-competitive doesn’t align with the facts, and we believe we’ll win this challenge,” he said.

The US merger challenge reflects the biggest setback yet for Microsoft as it has aggressively courted regulators around the world in hopes of persuading them to bless the deal. It also marks the FTC’s most significant challenge to the tech industry since it sued to break up Facebook-owner Meta in 2020, underscoring US officials’ vocal promises of a tough antitrust enforcement agenda.

“This is the boldest move the Biden administration has made so far to police mergers involving Big Tech and to expand the realm of merger enforcement,” said William Kovacic, a law professor at George Washington University and a former FTC chairman. “More than anything else they’ve done, this embodies their commitment to get tough on mergers.”