Gold jumped R300 to R31,600 per 10 grams in the national capital on Friday, driven by wedding-season buying at the existing low levels. Silver also gained R270 to R45,870 per kg on increased offtake. On the domestic front, gold of 99.9% and 99.5% purity rebounded by R300 each to R31,600 and R31,400 per 10 grams, respectively. It had lost R520 yesterday. Sovereign followed suit and rose by R100 to R25,300 per piece of eight gram. Similarly, silver ready recovered by R270 to R45,870 per kg and weekly-based delivery by R420 to R45,120 per kg. The white metal had lost R850 in the last session. However, silver coins held steady at R84,000 for buying and R85,000 for selling of 100 pieces.
Vegetable oil body seeks to stop loose sales
Vegetable oil industry body SEA has demanded that the Maharashtra state government withdraw the recent notification that allowed sale of unpacked edible oils in smaller quantity for one year, saying that such a move would encourage sale of adulterated edible oils. It also informed that the state has the necessary infrastructure for packing of edible oil and is capable of supplying edible oils in smaller packs in rural areas too. For the benefit of consumers in rural areas, the Maharashtra government had on October 28 issued a notification allowing sale of loose oil in 100 grams, 200 grams and 300 grams for a period of one year.
