Gold, silver recover on global cues and seasonal demand
Gold prices recovered on Thursday by R50 to R30,510 per 10 gm in the Capital on emergence of buying by stockists for the ongoing wedding season amid a firm global trend. Silver too gained R950 to R45,100 per kg on increased offtake by industrial units and coin makers. A similar trend was noticed in Mumbai, as gold of 99.9% and 99.5% purity rose by R50 and R60 to R30,260 and R30,110 per 10 gm, respectively; while silver rebounded by R700 to R45,600 per kg on increased seasonal demand. Traders said a firm global trend mainly led the recovery in both gold and silver. Gold in Singapore, which normally sets the price trend on the domestic front, improved to $1,258.09 an ounce from $1,257.92. Silver rose 0.7% to $20.03 an ounce.
APEDA to set up food processing units in Punjab and Gujarat
In a bid to boost exports of processed food products, the government has decid-ed to set up state-of-the-art complexes at Jalandhar, Punjab , Kodinar and Gandevi in Gujarat. Supp-orted by Agricultural and Processed Food Products Export Development Authority, the complex to be setup at Jalandhar in collaboration with the Punjab State Cooperative Supply and Marketing Federation will focus on ready-to-eat curries, fruits, ketchup and jam. The cost of the project will be R43 crore, of which APEDA will contribute R10 crore. The facility for export of mango pulp will come up at Kodin-ar in collaboration with Gujarat Gujarat State Agri-cultural Marketing Board.
