Gold prices fell by R100 to R30,625 per 10 grams in New Delhi on Friday due to sustained selling by stockists on sluggish demand amid a weakening global trend. However, silver recovered by R100 to R57,100 per kg on some low-level buying. It had lost R1,000 yesterday. In Singapore, gold fell 0.3% to $1,630.60 an ounce. On the domestic front, gold of 99.9% and 99.5% purity fell by R100 each to R30,625 and R30,425 per 10 grams, respectively. The metal had lost R75 yesterday.
Sovereigns followed suit and lost R50 at R25,250 per piece of 8 grams. On the other hand, silver ready recovered by R100 to R57,100 per kg and weekly-based delivery by R270 to R57,585 per kg.
Coriander hits upper limit on demand spike
Coriander futures on Friday hit the daily upper limit by surging R261 to R6,772 per quintal on frantic buying by speculators driven by rising demand in the spot market amid restricted arrivals. At the National Commodity and Derivative Exchange, coriander for delivery in May shot up by R261, or 4.01%, to R6,772 per quintal with an open interest of 12,060 lots. In a similar fashion, the spice for delivery in April jumped up by R256, or 4%, to R6,656 per quintal in 30,440 lots. Marketmen said that besides an upsurge in demand, smaller arrivals from producing belts led an upswing in prices.
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