News in Brief (15-01-2021)

Gold price declines in India, silver gains
NEW DELHI, Jan 14: After seeing a high on Wednesday, gold prices have dropped sharply in India on the occasion of Makar Sankranti on Thursday, while rate of silver witnessed a rise for the second consecutive day today. On Thursday, gold prices saw a decline of Rs 12 in the price of one gram of 22-carat gold, fixing its rate at Rs 4,846. As per prices mentioned by Good Returns, the price of 10 grams of 22-carat gold after a decrease of Rs 120 is 48,460, while the price of 24-carat gold is Rs 49,460 for 10 grams of gold after a drop of Rs 120 in the rate. But, gold jewellery price has a varied price list across India, due to excise duty, state taxes, and making changes. — Reuters
Iran alumina powder production grows
Alumina powder production in Iran edged 1.8 per cent higher during the first nine months of Iranian calendar year (March 20-November 20, 2020), in comparison with the same period of 2019, the Iranian Mines and Mining Industries Development and Renovation Organisation (IMIDRO) said. Alumina powder output reached 175,300 tonnes during the nine months of last year, while it was 172,100 tonnes in the corresponding period of the previous year. — Agencies
CBOT corn futures up to highest level
CHICAGO, Jan 14: The Chicago Board of Trade (CBOT) corn futures rallied to their highest level in 6-1/2 years after the US Department of Agriculture (USDA) cut its US harvest estimate and its end-of-season supply forecast by more than expected in a closely followed report. CBOT March corn ended locked up the 25-cent daily trading limit at $5.17-1/4 per bushel, the highest for a most-active contract since May 9, 2014. May and June futures were also limit-up. — Reuters