Quick View: Gold extends gains on firm global cues & sustained buying

Jan 21 2014, 03:39 IST
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SummaryGold prices extended gains for the second straight day by adding R20 to R30,200 per 10 gm in the Capital

Gold prices extended gains for the second straight day by adding R20 to R30,200 per 10 gm in the Capital on Monday. Silver gained R50 to R45,250 per kg on increa-sed offtake by industrial units and coin makers. In Mumbai, gold of 99.9% and 99.5% purity was traded at R30,170 and R30,020 per 10 gm, while silver enquired at R46,000 per kg. Traders said sustained buying by stockists and retailers for the marriage season amid a firm global trend where gold rallied on signs of incr-easing demand as holdings in the biggest exchange-traded product expanded the most since 2011, mainly bolstered the sentiment.

Cement demand growth to remain sluggish in FY15

Growth in cement demand will remain sluggish around 5-6% for FY15, given the slowdown in construction and infrastructure sectors. Growth will be supported by an expected increase in demand from the rural sector and tier II and tier III cities, according to a resea-rch note by India Ratings. Cement firms do not have the pricing power to pass on cost increases to custo-mers due to the sluggish demand. There was a subs-tantial increase in overall cost structure in FY13.

Apex court stays Himachal Pradesh High Court order

Supreme Court on Monday stayed Himachal Pradesh High Court's order directing implementation of the ord-er banning storage, supply, sale and entry of non-esse-ntial food items packaged in plastic or non-biodegrad-able material from January 26. A bench headed by Justice RM Lodha, staying the order till February 14, asked stakeholders to sug-gest a practical solution to the environmental problem.

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