Gold prices fell further by Rs 625 to Rs 31,700 per ten gram, extending losses for the second straight day on sustained selling by stockists, triggered by a weakening global trend. While the yellow metal plunged by R625 to R31,700 per ten gram, silver lost R1,710 to R54,000 per kg on reduced offtake by jewellers and industrial units.
Sentiment remained bearish as gold fell in global markets after better-than-expected US economic data backed the case for the Federal Reserve to slow stimulus, traders said.
Sugar prices fall by Rs 70 per quintal
Sugar prices tumbled by R70 per quintal following heavy stocks position, triggered by regular supply and reduced
offtake by stockist and bulk consumers.
Marketmen said besides huge ready stocks position on regular supply against restricted buying mainly pulled down
the sweetner prices.
Sugar Mill delivery M-30 and S-30 prices plunged from R3,010-3,185 and R3,000-3,165 to settle at R2,970-3,180 and R2,960-3,160 per quintal. Sugar spot M-30 and S-30 prices also quoted lower at R3,180-3,300 and R3,170-3,290 instead of R3,230-3,330 and R3,210-3,320 per quintal.