Gold rises by R330, silver zooms R1,200
Gold prices rose by R330 to R30,600 per 10 gm, while silver gained R1,200 to R54,400 per kg on rise in demand and strong cues from the global markets. Traders said while gold surged on emergence of buying by stockists and jewellers for wedding season, silver gained on increased offtake by industrial units and coin manufacturers. Sentiment turned better after gold climbed in global markets as European debt concerns mounted, spurring demand for the metal as a safe haven, they added.
Commexes turnover up 7.5% this fiscal
The turnover of the commodity exchanges rose 7.5% to R34,42,826 crore till June 15 this fiscal despite fall in trade volumes in gold and silver, according to the Forward Markets Commission (FMC). The exchanges had clocked a business of R31,99,842 crore in the year-ago, the regulator FMC said in a statement.
Trials on transgenic sugarcane begin
Sugarcane Breeding Institute has developed sugarcane transgenics incorporating gene constructs contributing to pest resistance but it could take some years to come out with a GM sugarcane variety, a top Sugarcane Breeding Institute official said. Molecular market technologies offered more precision to cane breeding while transgenic technology added an entirely new dimension to varietal development programs.
