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Updated: Nov 9 2012, 09:14am hrs
Gold up R70 on festive demand, silver sheds R640

Amid strong festive demand and a firm trend overseas, gold prices rose for the fourth day in a row in the bullion market by adding R70 to R31,770 per 10 grams. However, silver lacked necessary follow up support at prevailing higher levels and snapped a three-day rally, losing Rs 640 to Rs 59,860 per kg. Sentiment in gold remained firm on buying by stockists and jewellers to meet the demand for coming festival of Diwali and ongoing wedding season, traders said.

A firming global trend where investors bought the yellow metal following the recent fall in its prices also influenced the trading sentiment, they said.

Shell to open global hub for technology in Bangalore Royal

Dutch Shell on Thursday said it will open a third global hub for technology and innovation in Bangalore as part of its plans to increase its technology footprint in Asia. "Today, Shell laid the foundation stone for a brand new technology facility in Bangalore, which marks the next step in the company's expansion into developing technology in Asia," the company said in a statement here.

Shell employs around 900 research and development staff in two separate facilities.

This new development centre, spread over 40 acres at Devanhalli, will expand that number to around 1,500.