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Gold price dip sparks little cheer; India buyers unmoved

MUMBAI/BENGALURU: A drop in prices spurred some interest for physical gold in major Asian hubs this week, but failed to stoke significant demand in India as buyers awaited bigger dips. In the Indian market, gold futures were trading at around 29,800 rupees per 10 grams on Friday, having fallen to the lowest since Jan. 19, at 29,638 rupees, earlier this week. “Prices have fallen but there is no rush of consumers,” said Ghanshyam Nichani, owner of Dhanraj Jewellers in Mumbai. “They are waiting for bigger falls. In the…

Price drop spurs India gold demand, buyers eye bigger dips

MUMBAI/BENGALURU: Gold demand improved this week in India as prices fell to their lowest level in nearly three months, while demand elsewhere in Asia remained tepid as investors waited for prices to fall further. Gold futures in India were trading at around 30,419 rupees ($444.4) per 10 grams by 1010 GMT on Friday, after falling to 30,365 rupees earlier in the day, the lowest level since April 5. “There is modest rise in demand from jewellers, but still gold is trading at a discount,” said Harshad Ajmera, the…

Facebook plans to use US mail to verify IDs of election ad buyers

WASHINGTON: Facebook Inc will start using postcards sent by U.S. mail later this year to verify the identities and location of people who want to purchase U.S. election-related advertising on its site, a senior company executive said. The postcard verification is Facebook’s latest effort to respond to criticism from lawmakers, security experts and election integrity watchdog groups that it and other social media companies failed to detect and later responded slowly to Russia’s use of their platforms to spread divisive…

Google supports US efforts to disclose buyers of online political ads

SAN FRANCISCO: Alphabet Inc’s Google unit told U.S. election regulators in a letter seen by a UK wire service that it “strongly supports” tightening rules on online political advertising as part of efforts to curtail “foreign abuse and influence” in elections. Federal lawmakers have criticized Google, Facebook Inc and Twitter Inc for not doing enough to identify and block Russian agents from buying ads on their services. U.S. authorities say the ads were intended to influence voters during the 2016 presidential election.…