Silver surges R830 on fresh buying
Snapping a six-day losing streak, silver surged by R830 to R44,300 per kg on Tuesday on buying by industrial units amid a firm global trend. Gold also slipped R30 to R30,725 on subdued demand at higher levels. Traders said fresh buying by industrial units and coin-makers, along with a strong global trend, mainly led the recovery in prices. Silver in Singapore, which normally sets the price trend on the domestic front, added 0.5% to $19.95 an ounce. They said falling demand at the prevailing high levels mainly pulled down gold prices. On the domestic front, silver ready recovered sharply by R830 to R44,300 per kg and weekly-based delivery by R610 to R44,630 per kg. The white metal had lost R1,600 in the previous six trading sessions.
12 lakh tonne sugar exported in 2012-13
India exported about 12 lakh tonne of sugar in the marketing year 2012-13, the Parliament was informed on Tuesday. In a written reply to the Lok Sabha, food minister
KV Thomas said as per the Directorate General of Commercial Intelligence and Statistics (DGCIS), about 12 lakh tonne of sugar was exported during the marketing year 2012-13 (October-September). In the current marketing year, the country had exported about 1.5 lakh tonne of sugar till October, he said. Thomas said the decision to allow free exports of sugar was
taken keeping in view
the stock position and domestic demand.