After gaining for two days, gold prices declined in New Delhi on Monday due to sluggish demand at prevailing higher levels. The yellow metal dipped by R160 to R29,900 per 10 grams. Silver too plunged by R1,450 to R53,750 per kg. Traders said that the markets expectation of a correction in the prices mainly led to the fall.
Potato futures hit lower limit
Potato prices hit the daily lower limit by plunging 4% to R808.20 per quintal in futures trade today as speculators offloaded their positions, driven by a weak trend in the spot market. At the Multi Commodity Exchange, potato for March delivery fell R33.70, or 4%, to R808.20 per quintal, with a business volume of 207 lots.
Experts failed GM drive: IARI
On misgivings against genetically modified (GM) crops, HS Gupta, director, Indian Agricultural Research Insititute (IARI) on Monday said: The scientific communitys inability to effectively communicate the advantages of GM technology has led to the creation of a negative impression among people. During the last few years, the anti-GM technology lobby has been vocal in its approach, creating ideas against the introduction of GM technology in the agricultural sector.