Tag: Commodities

  • MCX Gold Slips 0.27% to Rs 1,48,800 Amid US-Iran Tensions and Rising Oil Prices

    MCX Gold Slips 0.27% to Rs 1,48,800 Amid US-Iran Tensions and Rising Oil Prices

    Gold prices on the Multi Commodity Exchange (MCX) declined on September 29 as geopolitical tensions between the United States and Iran over the Strait of Hormuz continued to push energy costs higher, increasing pressure on the Federal Reserve to maintain elevated interest rates.

    October gold futures fell 0.27% to Rs 1,48,500 per 10 grams, while September silver futures dropped 0.46% to Rs 2,46,130. In the international market, Brent crude futures rose 1.80% to USD 107.2 per barrel, and US West Texas Intermediate (WTI) gained 1.75% to USD 94.22 per barrel.

    Domestic Gold Prices

    In India, 24K gold fell by Rs 137 to Rs 1,48,800 per 10 grams, and 22K gold declined by Rs 125 to Rs 1,36,400. City-wise, Mumbai and Kolkata reported prices of Rs 1,48,800, Delhi at Rs 1,48,950, and Chennai at Rs 1,49,080.

    US Gold Prices

    In the United States, gold prices edged higher on Tuesday but remained near their lowest level in over seven weeks amid concerns that the Fed could keep rates higher for longer. Spot gold rose 0.4% to USD 4,130.58 per ounce, while US gold futures fell 0.2% to USD 4,162.20. Spot silver declined 0.9% to USD 60.42, platinum slipped 1.3% to USD 1,697.71, and palladium lost 0.8% to USD 1,205.27.

    Key Levels to Watch

    Christopher Tahir, senior market strategist at Exness, noted: “Geopolitical developments will remain crucial for gold, as continued tensions could keep energy prices and yields elevated, while meaningful progress toward de-escalation could ease pressure. Persistent price pressures combined with resilient activity would reinforce expectations that central banks need to remain restrictive, keeping yields elevated and leaving gold vulnerable to further losses.”

    On the daily chart, XAU/USD trades at USD 4,130, holding below the 20-day, 50-day, and 100-day simple moving averages clustered between roughly USD 4,290 and USD 4,330, which keeps the near-term bias bearish. The Relative Strength Index (14) near 36 suggests weak momentum but not outright oversold conditions, hinting that bears retain control.

    Immediate support is seen at the rising trend-line base near USD 3,990, where dip-buying interest could emerge if the current pullback extends. On the upside, the first resistance band is defined by the 100-day SMA at USD 4,292, followed closely by the 50-day SMA at USD 4,321 and the 20-day SMA at USD 4,325, forming a dense supply zone that gold would need to reclaim to ease bearish pressure.

  • Gold Price Update: MCX Gold Holds Steady at Rs. 1,53,171 as Oil Prices Decline, Brent at $101.6

    Gold Price Update: MCX Gold Holds Steady at Rs. 1,53,171 as Oil Prices Decline, Brent at $101.6

    Gold traded flat on MCX on September 22 amid a continued decline in oil prices over the past few sessions, which reduced expectations of further interest-rate hikes by the Federal Reserve. October gold futures rose 0.05% to Rs. 1,53,171 per 10 grams, while September silver futures advanced 0.13% to Rs. 2,39,620.

    Meanwhile, Brent crude futures rose 1.25% to USD 101.6 per barrel. US West Texas Intermediate (WTI) edged higher by 0.96% to USD 93.26 per barrel.

    Domestic Gold Prices

    24K gold rose by Rs. 17 to Rs. 1,54,750 per 10 grams, while 22K gold also advanced by Rs. 15 to Rs. 1,41,850. By city, Mumbai and Kolkata mirrored prices at Rs. 1,54,750, while Delhi was at Rs. 1,54,900 and Chennai at Rs. 1,54,750.

    US Gold Prices

    US gold prices struggled for momentum on Tuesday as expectations of interest rates staying higher for longer weighed on sentiment, with investors awaiting comments from US Federal Reserve officials for policy clues. Spot gold declined 0.08% at USD 4,340.26 per ounce. US gold futures fell 0.18% at USD 4,376.20. Spot silver fell by 0.12% to USD 65.95 per ounce while platinum dipped 0.81% to USD 1,789.83 and palladium declined 0.94% at USD 1,295.78 per ounce.

    Key Levels to Watch

    With US economic data limited this week, investors will focus on comments from Fed officials for signs of whether the central bank is leaning toward another rate increase in October, as well as on crude oil prices, said Chris Weston, head of research at Pepperstone.

    “While crude has come modestly off its recent highs, a reversal higher that builds inflation expectations would only intensify the rates story, and gold would likely continue to face headwinds,” said Weston.

    XAU/USD traded around USD 4,340 on the daily chart, holding just above the medium-term moving averages. The 50-day simple moving average (SMA) at USD 4,300 and the 100-day SMA at USD 4,320 sit below price and suggest underlying trend support, while USD 4,400 acts as immediate resistance. The ongoing test of the rising support trendline around USD 4,340 keeps the broader uptrend intact, and a neutral near-term bias is supported by the Relative Strength Index (RSI) hovering close to the 50 line at 48.5.

    On the topside, immediate resistance emerges at USD 4,400, with a more significant barrier at the 200-day SMA around USD 4,542. On the downside, support clustered around USD 4,340 is the first level to watch; a daily close below it would expose USD 4,320.

  • Gold Drops 1.11% on MCX After Fed Rate Hike; Brent Crude Holds Near $106

    Gold Drops 1.11% on MCX After Fed Rate Hike; Brent Crude Holds Near $106

    Gold prices on the Multi Commodity Exchange (MCX) declined sharply on September 17, following the US Federal Reserve’s decision to raise interest rates by 25 basis points to a range of 3.75%–4%. The move, driven by persistent inflation and elevated energy costs, pushed October gold futures down 1.11% to Rs. 1,50,778 per 10 grams. Silver also weakened, with September futures falling 1.19% to Rs. 2,31,982.

    Meanwhile, global crude oil benchmarks showed mixed movement. Brent crude futures edged up 0.03% to USD 105.9 per barrel, while US West Texas Intermediate (WTI) slipped 0.05% to USD 104.4 per barrel.

    Domestic Gold Prices by Purity and City

    In the Indian market, 24-karat gold dropped by Rs. 60 to Rs. 1,52,840 per 10 grams, and 22-karat gold declined by Rs. 55 to Rs. 1,40,100. Prices varied slightly across major cities:

    • Mumbai: Rs. 1,52,840
    • Kolkata: Rs. 1,52,840
    • Delhi: Rs. 1,52,990
    • Chennai: Rs. 1,52,840

    US Gold and Precious Metals Overview

    In international markets, spot gold rose more than 1% to USD 4,310.49 per ounce as investors weighed the Fed’s hawkish stance and potential for further tightening. US gold futures for December delivery were down roughly 1% at USD 4,348.70. Spot silver gained 1.4% to USD 63.83, platinum firmed 1.6% to USD 1,780.55, and palladium climbed 2% to USD 1,295.

    Key Levels and Analyst Outlook

    Kelvin Wong, senior market analyst at OANDA, noted that oil prices remain a crucial factor for gold. “If oil prices continue to decline, that could support gold prices moving higher, at least from a medium-term perspective. Until that materializes, I expect gold to remain range-bound,” he said. Wong added that the current uptick in gold is largely technical, with the Fed’s hawkish message already priced in.

    On the MCX, gold is under short covering with open interest declining 4.15% to 8,818. Support is placed at Rs. 1,51,630, with a break below opening Rs. 1,50,790, while resistance is seen at Rs. 1,53,130, above which prices could test Rs. 1,53,790.

    Internationally, gold shows a bearish near-term bias below USD 4,315–USD 4,320. This zone acts as a key pivot; above it, the metal could target the 38.2% Fibonacci level near USD 4,404 and the 23.6% retracement at USD 4,513. On the downside, immediate support is at the 61.8% Fibonacci retracement of USD 4,226, followed by the 78.6% level at USD 4,100.

  • MCX Gold Prices Rise 0.57% to Rs 1,51,670 as Oil Slips and Fed Decision Nears

    MCX Gold Prices Rise 0.57% to Rs 1,51,670 as Oil Slips and Fed Decision Nears

    Gold prices traded higher on the Multi Commodity Exchange (MCX) on Wednesday, September 16, as a modest pullback in crude oil prices and market anticipation of the US Federal Reserve’s monetary policy decision kept bullion in focus.

    October gold futures climbed 0.57% to Rs 1,51,670 per 10 grams, while September silver futures advanced 1.33% to Rs 2,35,195. The rise came even as the US dollar and bond yields firmed ahead of the Fed’s expected rate move.

    In the energy markets, Brent crude futures slipped 0.74% to USD 107.9 per barrel, while US West Texas Intermediate (WTI) eased 1.09% to USD 104.7 per barrel. According to the CME FedWatch Tool, markets are pricing in a 92.3% probability of a 25-basis-point rate hike by the Federal Reserve later today.

    Domestic Gold Prices

    In the Indian spot market, 24K gold rose by Rs 27 to Rs 1,53,440 per 10 grams, while 22K gold gained Rs 25 to Rs 1,40,650. City-wise, Mumbai and Kolkata quoted 24K gold at Rs 1,53,440, Delhi was at Rs 1,53,590, and Chennai at Rs 1,53,440.

    US Gold and Silver Prices

    Internationally, spot gold rose 0.8% to USD 4,328.39 per ounce. December-delivery US gold futures slipped 0.9% to USD 4,369.50. Meanwhile, spot silver added 1.5% to USD 64.60 per ounce, platinum edged 0.7% higher to USD 1,788.25, and palladium gained 1.6% to USD 1,309.80.

    Market Outlook and Key Levels

    Frank Walbaum, market analyst at trading platform Naga.com, noted that a hawkish Fed could pull gold lower, while softer messaging might ease rate-hike expectations and help the metal recover. He added that traders are also monitoring oil prices and developments in the Middle East.

    Key levels to watch internationally: gold has support at USD 4,310-USD 4,264 per troy ounce and resistance at USD 4,355-USD 4,400. Silver support is seen at USD 63-USD 62.20, with resistance at USD 64.40-USD 65.50 per troy ounce. On MCX, gold has support at Rs 1,50,150-Rs 1,49,400 and resistance at Rs 1,51,500-Rs 1,52,200, while silver has support at Rs 2,30,000-Rs 2,27,700 and resistance at Rs 2,34,400-Rs 2,37,000.

    Traders will now watch the Federal Reserve’s decision and commentary for near-term direction in bullion prices.

  • MCX Gold Rises 0.77% to Rs 1,53,992 on Spot Demand, Brent Crude at $97.57

    MCX Gold Rises 0.77% to Rs 1,53,992 on Spot Demand, Brent Crude at $97.57

    Gold prices advanced on the Multi Commodity Exchange (MCX) on September 8, driven by robust spot market demand and supportive global cues. The October gold futures contract climbed 0.77% to Rs 1,53,992 per 10 grams, while silver futures for September slipped 0.96% to Rs 2,41,304 per kilogram.

    In the international oil market, Brent crude futures rose 0.59% to USD 97.57 per barrel, and US West Texas Intermediate (WTI) gained 1.64% to USD 92.98 per barrel.

    Market participants are closely watching the Federal Reserve’s next move. According to the CME FedWatch Tool, there is a 41.6% probability that the Fed will keep interest rates unchanged in September, while a 58.4% chance points to a rate hike.

    Domestic Gold Prices

    In the Indian bullion market, 24K gold rose by Rs 120 to Rs 1,55,350 per 10 grams, and 22K gold advanced by Rs 110 to Rs 1,42,400. Regional prices varied slightly: Mumbai and Kolkata quoted Rs 1,55,350, Delhi at Rs 1,55,500, and Chennai at Rs 1,55,670.

    US Gold Prices

    Gold prices in the US climbed on Tuesday as the US dollar weakened. Investors are now focused on upcoming inflation data, which could influence the Federal Reserve’s policy direction. Spot gold rose 0.6% to USD 4,429.89 per ounce, while US gold futures for December delivery traded at USD 4,475.10.

    Other precious metals also gained: spot silver added 1% to USD 66.78 per ounce, platinum rose 0.4% to USD 1,834.00, and palladium firmed 1% to USD 1,402.87.

    Key Levels to Watch

    Chris Weston, head of research at Pepperstone Group, noted that gold remains in a tug-of-war between buyers and sellers, with neither side showing enough conviction for a sustained directional move. Edward Meir of Marex added in a monthly note that gold is unlikely to fall sharply even if the central bank raises rates, emphasizing that market unease about Fed and Treasury signals matters more than the rate move itself.

    On MCX, gold faces support at Rs 1,51,750 and Rs 1,50,500, with resistance at Rs 1,53,850 and Rs 1,54,700. Silver has support at Rs 2,36,600 and Rs 2,35,000, and resistance at Rs 2,41,000 and Rs 2,44,000.

  • Gold Prices Inch Higher on MCX as Fed Holds Rates; Brent Crude Slips Below $90

    Gold Prices Inch Higher on MCX as Fed Holds Rates; Brent Crude Slips Below $90

    Gold futures traded higher on the Multi Commodity Exchange (MCX) on July 30, despite a stronger U.S. dollar and rising 10-year Treasury yields, after the U.S. Federal Reserve decided to keep interest rates unchanged. August gold futures rose 0.26% to Rs 1,42,150 per 10 grams. In contrast, September silver futures declined 0.59% to Rs 2,16,200, while Brent crude futures fell 1.14% to $89.71 per barrel. U.S. West Texas Intermediate (WTI) crude also edged lower by 0.81% to $83.78 per barrel.

    According to the CME FedWatch Tool, market expectations for a September rate hike dropped to 63% from 81% before the Fed’s policy decision, reflecting a shift in sentiment after the central bank’s announcement.

    Domestic Gold Prices

    In the domestic spot market, 24-karat gold rose by Rs 82 to Rs 1,44,330 per 10 grams, while 22-karat gold advanced by Rs 75 to Rs 1,32,300. Prices remained consistent across major cities: Mumbai and Kolkata quoted Rs 1,44,330, Delhi Rs 1,44,480, and Chennai Rs 1,44,330.

    U.S. Gold Prices

    In the international market, gold prices edged higher on Thursday as investors assessed comments from Federal Reserve Chairman Kevin Warsh on inflation following the rate hold. Spot gold gained 0.3% to $4,076.29 per ounce, while U.S. gold futures for August delivery rose 1% to $4,073.60. Spot silver added 0.4% to $57.86 per ounce, palladium climbed 1.5% to $1,264.49, and platinum dipped 0.6% to $1,602.34.

    Key Levels to Watch

    Analysts noted that gold’s upward momentum was supported by a perceived lack of urgency from the Fed to raise rates. “I think the markets were surprised, and somewhat disappointed by Warsh and his general approach. He seemed kind of disengaged from the need to raise interest rates,” said Edward Meir, analyst at Marex. “The markets have gone up to fight inflation, but he doesn’t seem to be doing much, and so this has helped gold go up.”

    On MCX, gold is expected to find support at Rs 1,41,100 and Rs 1,40,400, with resistance at Rs 1,42,650 and Rs 1,43,300. Silver has support at Rs 2,15,500 and Rs 2,13,300, and resistance at Rs 2,20,000 and Rs 2,23,100.

  • Gold Prices Dip as Brent Crude Trades Above $100, Fueling Rate Hike Expectations

    Gold Prices Dip as Brent Crude Trades Above $100, Fueling Rate Hike Expectations

    Gold prices edged lower on the Multi Commodity Exchange (MCX) on July 24 as Brent crude oil held above $100 a barrel, intensifying inflation concerns and reinforcing expectations for a September rate hike by the U.S. Federal Reserve.

    Domestic Gold Prices

    MCX August gold futures dropped 0.7% to Rs 1,41,824 per 10 grams. September silver futures also declined, falling 0.88% to Rs 2,17,447. In the physical market, 24K gold fell by Rs 185 to Rs 1,44,330 per 10 grams, while 22K gold declined by Rs 170 to Rs 1,32,300. Prices in Mumbai and Kolkata stood at Rs 1,44,330, Delhi at Rs 1,44,480, and Chennai at Rs 1,44,330.

    US Gold and Precious Metals

    Spot gold slipped 0.4% to $4,030.09 per ounce, extending losses after a 2% drop in the previous session. U.S. gold futures for August delivery were also 0.4% lower at $4,033.20. Spot silver fell 0.7% to $57.29 per ounce but was on track for a weekly gain of 2.5%. Platinum dropped 1.3% to $1,579.49, and palladium declined 1.5% to $1,237.50, both heading for a weekly loss.

    Key Levels to Watch

    According to the CME FedWatch Tool, traders now see an 81% probability of a quarter-point rate hike in September. Elevated crude oil prices above $100 are adding to inflation pressures, strengthening the case for tighter monetary policy.

    GoldSilver Central Managing Director Brian Lan noted, “In the short term, we expect more volatility… gold has been trading between $3,980 and about $4,170 and has been stuck in this range for weeks. Every time prices hit close to $4,000 or slightly below, we see big buyers coming to buy it back up.”

    Technically, XAU/USD trades around $4,030 and remains capped below the 21-day simple moving average (SMA) at $4,068.50 and the 50-day SMA at $4,231.04. The Relative Strength Index (RSI) sits near 44, indicating neutral-to-soft momentum. Immediate resistance is at $4,068.50, followed by the 50-day SMA near $4,231.04. A break above that would face further resistance at the 100-day SMA ($4,479.88) and the 200-day SMA ($4,494.74), which form a dense zone that needs to be reclaimed to ease the broader bearish tone.

  • Gold Prices Surge 1.07% on MCX to Rs 1,44,408 as Middle East Tensions Boost Brent Crude Above $92

    Gold Prices Surge 1.07% on MCX to Rs 1,44,408 as Middle East Tensions Boost Brent Crude Above $92

    Gold futures on the Multi Commodity Exchange (MCX) climbed sharply on July 22, tracking a positive global trend and rising crude oil prices driven by escalating US-Iran tensions. The August gold contract rose by 1.07% to settle at Rs 1,44,408 per 10 grams, while September silver futures gained 0.94% to Rs 2,25,886.

    In the international oil market, Brent crude futures advanced 1.20% to $92.10 per barrel, and US West Texas Intermediate (WTI) edged up 1.08% to $85.25 per barrel. The rally in oil prices was fueled by geopolitical uncertainty in the Middle East, which also supported safe-haven demand for gold.

    Domestic Gold Prices

    In the Indian physical market, 24K gold rose by Rs 229 to Rs 1,46,510 per 10 grams, while 22K gold increased by Rs 210 to Rs 1,34,300. Regional prices were largely uniform: Mumbai and Kolkata quoted Rs 1,46,510, Delhi Rs 1,46,560, and Chennai Rs 1,46,510.

    US Gold Prices

    In the US markets, spot gold hit a two-week high, climbing 1.6% to $4,139.64 per ounce. August gold futures jumped 1.7% to $4,144.20. The rally was attributed to technical buying and heightened uncertainty over the widening Middle East conflict, as traders awaited the US Federal Reserve meeting scheduled for next week. According to the CME FedWatch Tool, the probability of a September rate hike now stands at 64%.

    Spot silver rose 1.9% to $59.87 per ounce, platinum gained 2.4% to $1,667.22, and palladium advanced 3% to $1,320.75.

    Key Levels and Analyst Outlook

    “Buyers have been stepping in seeking a value play after the recent pullback, while hopes for diplomatic progress between the US and Iran are also assisting price moves,” said Tim Waterer, chief market analyst at KCM Trade.

    On the MCX, gold is seen with support at Rs 1,42,000 and Rs 1,41,400, while resistance is at Rs 1,44,000 and Rs 1,45,500. Silver has support at Rs 2,21,600 and Rs 2,18,800, with resistance at Rs 2,26,000 and Rs 2,28,800.

    Manoj Kumar Jain of Prithvi Finmart Commodity Research advised traders to trail stop losses in long positions and book profits around Rs 1,44,400–Rs 1,45,500 for gold and Rs 2,27,000–Rs 2,30,000 for silver.

  • MCX Gold Edges Higher on Value Buying; Brent Crude Pushes Past $90

    MCX Gold Edges Higher on Value Buying; Brent Crude Pushes Past $90

    Gold prices edged higher on the Multi Commodity Exchange (MCX) on July 20, supported by value buying as the US dollar softened, while Brent crude oil surged past the $90-per-barrel threshold, intensifying expectations that the Federal Reserve will raise interest rates again before year-end.

    August gold futures on MCX rose 0.32% to ₹1,41,039 per 10 grams, while September silver futures gained 1% to ₹2,18,560. Meanwhile, Brent crude futures climbed 2.62% to $90.41 per barrel, and US West Texas Intermediate (WTI) advanced 2.39% to $84.36 per barrel.

    According to the CME FedWatch Tool, traders now see an 82% probability of a rate hike in December, up from 73% last week.

    Domestic Gold Prices

    In India, 24K gold rose by ₹17 to ₹1,43,460 per 10 grams, while 22K gold climbed ₹15 to ₹1,31,500. City-wise, Mumbai and Kolkata both quoted ₹1,43,460, Delhi ₹1,43,610, and Chennai ₹1,43,460.

    US Gold Prices

    In the international market, spot gold slipped 0.1% to $4,014.53 per ounce as escalating Middle East tensions pushed Brent crude above $90, stoking inflation fears. US gold futures for August delivery were steady at $4,019.80. Spot silver gained 1.9% to $56.95 per ounce, platinum rose 0.5% to $1,599.97, and palladium eased 0.2% to $1,244.50.

    “Weekend escalations increase the risk of a full-scale offensive by both sides, which potentially threatens gold prices as the opportunity cost for holding the metal gets higher if this ongoing stagflation fear takes hold,” said Kelvin Wong, senior market analyst at OANDA.

    Key Levels to Watch

    International: Gold has support at $3,989 and $3,945, with resistance at $4,040 and $4,074 per troy ounce. Silver support is at $55.50 and $54.40, resistance at $57.50 and $58.80.

    On MCX: Gold has support at ₹1,40,400 and ₹1,39,650, and resistance at ₹1,41,500 and ₹1,42,200. Silver support is at ₹2,14,400 and ₹2,11,000, with resistance at ₹2,18,800 and ₹2,21,000.

  • MCX Gold Dips 0.46% as Brent Crude Surges Past $85, Inflation Worries Persist

    MCX Gold Dips 0.46% as Brent Crude Surges Past $85, Inflation Worries Persist

    Gold prices on the Multi Commodity Exchange (MCX) traded lower on July 15, despite a slowdown in U.S. inflation that reduced expectations for aggressive Federal Reserve rate hikes and weakened the U.S. dollar. August gold futures declined 0.46%, settling at Rs. 1,41,600 per 10 grams. Meanwhile, September silver futures slipped 0.31% to Rs. 2,22,499 per kilogram.

    In the energy markets, Brent crude futures jumped 1.20% to $85.75 per barrel, while U.S. West Texas Intermediate (WTI) advanced 0.92% to $80.07 per barrel. The rise in crude oil prices reignited inflation concerns, putting pressure on precious metals.

    According to the CME FedWatch Tool, traders now see a 58% chance of a September rate hike by the Fed, down from 78% earlier, reflecting the market’s shifting outlook on monetary policy.

    Domestic Gold Prices

    In the Indian domestic market, 24K gold rose by Rs. 77 to Rs. 1,43,570 per 10 grams, while 22K gold advanced by Rs. 70 to Rs. 1,31,600. By city, Mumbai and Kolkata quoted gold at Rs. 1,43,570, Delhi at Rs. 1,43,720, and Chennai at Rs. 1,43,780.

    U.S. Gold Prices

    U.S. gold prices fell on Wednesday after climbing more than 2% in the previous session, as rising oil prices fueled inflation concerns and uncertainty. Spot gold was down 0.5% at $4,035.67 per ounce, while U.S. gold futures for August delivery eased 0.7% to $4,042.20.

    Spot silver lost 0.3% to $58.48 per ounce. Among other precious metals, platinum gained 0.2% to $1,635.56, and palladium edged 0.2% higher to $1,307.11.

    Key Levels to Watch

    Kelvin Wong, senior market analyst at OANDA, commented: “I reckon that the market is now looking past the CPI data, which is kind of a lagging indication… Trump continues to maintain the blockade of ships that is flowing out of the Strait of Hormuz, causing oil prices to rise and gold to come under pressure.”

    Internationally, gold has support at $4,022 and $3,989, while resistance is at $4,110 and $4,140 per troy ounce. Silver has support at $57.40 and $56, with resistance at $60.60 and $62.00 per troy ounce.

    On MCX, gold has support at Rs. 1,41,400 and Rs. 1,40,650, and resistance at Rs. 1,43,350 and Rs. 1,44,500. Silver has support at Rs. 2,20,000 and Rs. 2,17,700, and resistance at Rs. 2,26,000 and Rs. 2,28,800.