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SummarySnapping a three-day rising streak, Gold prices fell by Rs,220 to Rs.31,000 per 10 gm on slackened demand at prevailing higher levels amid weak overseas trend.

Gold snaps three-day rising trend

Snapping a three-day rising streak, Gold prices fell by Rs.220 to Rs.31,000 per 10 gm on slackened demand at prevailing higher levels amid weak overseas trend. The yellow-metal had gained R350 in last three days. Silver also declined by R600 to R57,400 per kg on reduced offtake by industrial units. Traders said sluggish demand at prevailing higher levels and investors shifting their funds from weakening bullion to rising equities mainly kept pressure on both gold and silver prices. They said a weak trend in overseas markets as optimism that the US economy is recovering and lawmakers will reach a budget deal damped demand for the metal.

A call centre for farmers

EID Parry, one of the largest manufacturers of sugar in India and part of the R22,314-crore Murugappa group, launched a call centre service-cum-solution provider for farmers. The centre is expected to benefit around 90,000 farmers registered with EID Parry at five locations in Tamil Nadu and Puducherry.

Through this initiative, the farmers registered with EID Parry will get access to real-time information about land preparation, soil condition, transport and harvesting. “This call centre is expected to benefit all farmers with real-time solutions,” said Ravindra Singhvi, MD of EID Parry (India).

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