Quick view: Gold, silver spurt on frantic buying, global cues

Updated: Dec 12 2013, 09:11am hrs
Gold zoomed by R425 to R31,150 per ten grams on frantic buying by stockists and investors on strong global cues. Silver also surged by R700 to R45,000 per kg on increased offtake by jewellers and industrial units. Sentiments turned bullish after gold recorded the biggest advance since mid-October as the dollar weakened, boosting the appeal of the precious metal as an alternative investment, traders said. Besides, frantic stockists buying for the ongoing marriage season and investors shifting funds from weakening equity to rising bullion further supported the uptrend, they said.

Railways freight traffic goes up by 4.72%

Railways have carried 677.56 million tonne of freight traffic during April-November, registering a growth of 4.72% from the same period last year. The freight traffic during April-November this year registered an increase of 30.55 MT over the freight of 647.01 MT carried during the corresponding period last year. According to railway ministry data, the freight carried by the transporter in November was 84.31 MT, an increase of 2.56 MT over the freight traffic of 81.75 MT carried during the same period last year, showing a rise of 3.13%.