Quick view: Gold, silver rebound on global cues

Updated: Jul 2 2014, 07:09am hrs
After four days of losses, gold staged a strong comeback to trade R255 higher at R28,730 per ten gram on emergence of

buying by stockists and retailers at existing levels amid a firming global trend. Silver also moved up by R500 to R45,300 per kg on increased offtake by industrial units and coin makers. Sentiments turned better on emergence of buying by

stockists and retailers at current levels, taking positive cues from global market where the precious metal traded at

nearly three-month high, traders said.

Assocham push for APMC Act

Assocham wants the Centre to implement the model APMC Act in all states to boost agri-marketing and supply chain efficiencies. It also wants input-based subsidies to farmers to be replaced with low-cost credit, direct cash transfers and investment subsidies. Assocham has also suggested that effective communication systems between farmers and laboratories be developed by setting up broadband connections and regional Kisan TV channels to disseminate real-time data.

The association has suggested 100% FDI be allowed in food processing Industries to encourage private and foreign capital .