Quick view: Gold prices fall on profit-selling, weak global cues

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SummaryGold prices fell by R110 to R31,040 per ten grams in New Delhi on Thursday on profit-selling by stockists at existing higher levels amid a weak global trend.

Gold prices fell by R110 to R31,040 per ten grams in New Delhi on Thursday on profit-selling by stockists at existing higher levels amid a weak global trend. However, silver gained for the third straight day by adding R60 to R45,060 per kg on increased offtake by industrial units and coin makers. Traders said profit-selling by stockists at existing higher levels amid a weak global trend as the US Congress reached a budget agreement, curbing the appeal of the metal as a safe haven, mainly influenced gold prices. Gold in New York, which normally sets price trend on the domestic front, fell by 0.3% to $1,257.20 an ounce last night. On the domestic front, gold of 99.9% and 99.5% purity fell by R110 each to R31,040 and R30,840 per ten grams, respectively.

Nendran banana prices likely to rise R2 per kg in January

With the festival season fast approaching, the prices of Nendran banana are expected to be around R38 to R40 per kg, a hike of R2 from the prevailing market prices. An analysis carried out by Agro Marketing Intelligence and Business Promotion Centre in Tamil Nadu Agricultural University, revealed that banana, being sold at R36 to R38 at present, may fetch R1 one to R2 higher in January. The prices are expected to remain stable between R37 and R38 from February, it said. Nendran is one of the important varieties cultivated in TN and mainly used for preparing chips. The banana grown in the state was the first choice of consumers in Kerala and the peak arrivals were in January-February and the lean period in July-August.

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