Gold declines on sluggish demand
The bullion market witnessed a mixed trend in the national capital as gold prices fell by R70 to R31,030 per ten grams on sluggish demand, while silver gained R450 to R58,450 per kg on increased industrial buying amid strong global cues. Gold of 99.9 and 99.5 per cent purity declined by R70 each to R31,030 and R30,830 per ten grams respectively. Traders said sluggish demand at prevailing higher levels amid off marriage season mainly led to decline in gold prices.
Potato futures hit upper circuit
Potato prices hit a daily upper limit of 4 per cent to R861.50 per quintal in futures trade due to tight supplies from producing regions on foggy weather conditions. Also, pick-up in demand in the spot market, supported the upside. At the Multi Commodity Exchange, potato for delivery in April spurted by R33.10, or 4 per cent to R861.50 per quintal with a business volume of 423 lots. Potato for delivery in March shot up by R30.70, or 3.71 per cent to R858 per quintal in a tradevolume of 660 lots.
Farm awards for 8 states
Bihar, Manipur, Nagaland, Madhya Pradesh, Tamil Nadu, Haryana, Jharkhand and Uttar Pradesh will be awarded the Krishi Karman 2011-12 awards for their efforts in increasing foodgrain production. President Pranab Mukherjee will present these awards on Tuesday. Krishi Karman awards recognises the effort made by states in foodgrain production.