Gold maintains upward march on greater buying
Gold prices on Thursday rose by R135 to R31,400 per 10 gm in New Delhi today on continued buying by stockists and jewellers to meet demand during the upcoming wedding season. Silver surged R800 to R59,100 per kg on increased offtake by industrial units and coin-makers. Traders said global strength in gold also influenced sentiment. Gold prices in Singapore rose by 0.2% to $1,690.10 an ounce and silver by 0.2% to $31.09 an ounce. On the domestic front, gold of 99.9% and 99.5% purity added R135 each to R31,400 and 31,200 per 10 gm, respectively. It had gained R340 in the last three days. Sovereign held steady at R25,450 per piece of 8 gm.
Synthetic rubber usage up 6% in first half of FY13
India’s synthetic rubber consumption rose 6% to 2.26 lakh tonne in the first half of this fiscal while production rose marginally to 54,778 tonne during the period, the Rubber Board said. The country consumed 2.13 lakh tonne of synthetic rubber over April-September of the 2011-12 fiscal while the output stood at 54,750 tonne during the period. Consumption by the auto tyre industry rose 8% to 1.67 lakh tonne over April-September of the 2012-13 fiscal, from 1.55 lakh tonne in the year-ago period. Imports of synthetic rubber declined by 3% to 1.69 lakh tonne in the period under review.