Gold flat in listless trade, silver gains
Gold prices ended almost flat in a listless trade at the bullion market on Thursday on reduced demand from traders as well as subdued buying interest from retail consumers on hope of a further fall. Standard gold (99.5 purity) eased by R10 per 10 gm to close at R30,765. Pure gold (99.9 purity) lost R15 per 10 gm to finish at R30,900 from R30,915. Silver ready (.999 fineness) rose by R390 per kg to conclude at R60,275 as against R59,885 previously.
China silver demand may climb to record
Silver demand in China is set to jump as much as 10% next year to a record as investors look to preserve wealth, according to Beijing Antaike Information Development. Consumption may climb to 7,700 metric tonne after gaining 6% to 8% in 2012, Shi Heqing, an analyst at Beijing Antaike, said in an interview on October 22. About 33% of the country’s demand comes from jewellery and coins.
Food wasted in year can feed 500 m: FAO
The total food wasted every year globally is enough to feed 500 million people without any burden on natural resources, a top official of United Nation's body Food and Agriculture Organisation (FAO) said. "Around one third of all the food produced in the world is lost or wasted every year," FAO director general Jose Graziano da Silva said, adding the elimination of wastage is an important step in achieving zero hunger.