Quick view: Gold remains up on global cues, sustained buying

Updated: Nov 8 2013, 08:57am hrs
Gold rose by Rs 190 to Rs 31,350 per 10 gm in the Capital on Thursday as stockists and retailers remained net buyers of the precious metal for the marriage season amid a firming global trend. Silver also surged by R455 to R49,315 per kg on increased offtake by jewellery fabricators and industrial units. Firming global trend where gold posted the biggest gain in almost two weeks as a weakening dollar before the US jobs data further fuelled the buying, they said. Gold in New York, which normally sets price trend on the domestic front, rose by $5.70 to $1,317.60 an ounce and silver by 0.44% to $21.81 an ounce.

Oilmeal exports jump three-fold to 3.68 LT in Oct

India's oilmeals export in October increased over three-fold to 3.68 lakh tonne (LT) on account of higher exports to Europe, South Korea and Iran. Shipments of oilmeals in the same month last year stood at 1.22 LT, the Solvent Extract-ors' Association of India said in a statement. The overall export till October in the current financial year is increased by 15% to 20.19 LT compared to 17.49 LT during April-October period last year, it said. South Kor-ea is the biggest importer of oilmeals from India during the April-October period with 6.39 LT followed by Iran with 6.04 LT. Major jump in oilmeals exports was seen in Europe. How-ever, India is losing market in Vietnam due to competi-tion from other origins and higher domestic crushing.