Quick view: Gold gains Rs 200 on strong global cues

Updated: Mar 4 2014, 05:46am hrs
Gold gains Rs 200 on strong global cues

Snapping its two-day falling trend, gold prices recovered by Rs 200 to Rs 31,300 per ten grams on brisk buying by stockists and strong global cues. Silver also rose by Rs 600 to Rs 47,900 per kg on increased offtake by industrial units and coin makers. Traders said brisk buying by stockists driven by strong global trend, where gold advanced following tensions in Ukraine, mainly boosted the trading sentiment here. Gold in Singapore, which normally sets price trend on the domestic front, rose by 1.7% to $1,348.58 an ounce, the highest since October 30 and silver by 1.7% to $21.59 an ounce, led to an upsurge in gold and silver prices here.

Coal India misses Feb output target

Coal India produced 42.56 million tonnes of coal in February, missing its target of 45.41 mt. However, no reasons were given by the company for missing the target. The company's offtake during the month was at 40.48 mt, while CIL target for ebruary was 43.02 mt, the company said in a filing to BSE. CIL's production in the first eleven months of the current fiscal was 409.13 mt, while the company's target during the period was 429.29 mt, it said. The company's offtake during April-February period was 426.44 mt, against the target of 444.20 mt, it added.