Gold prices recovered by R210 to R30,250 per 10 gm in the Capital on Tuesday on stockists buying for the wedding season despite a weak global trend. Silver followed suit and gained R230 to R42,830 per kg on increased offtake by industrial units and coinmakers. Traders said the depreciating rupee which makes the import of precious metals costlier influenced the sentiment as well. In Delhi, gold of 99.9% and 99.5% purity rebounded by R210 each. It had lost a similar margin on Monday. Sovereign held steady at R24,900 per piece of 8 gm. Silver ready recovered by R230. The white metal had plunged by R800 in the last session.
Govt scouts for Forward Markets Commission chief
With Forward Markets Commission (FMC) chairman Ramesh Abhishek's term coming to an end in June, the government has started searching for a new chief. The finance ministry has come out with an ad inviting applications to fill up the post of FMC chairman on deputation basis for three years, with the possibility of extension. The candidates should have minimum 25-year service period in Group 'A' in central and state government, PSUs, universities, semi government autonomous or statutory organisations. The selection will be made by a search-cum-selection committee set up by the department of economic affairs under the finance ministry. The post is equal to secretary to the government of India with a fixed pay of R80,000 per month. Candidates should submit the application within 45 days of the advertisement in the Employment News.