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Updated: Sep 12 2012, 08:31am hrs
Gold sheds R50 from record high

Gold prices fell from all-time high to R32,450 per 10 gm, declining by R50, on reduced offtake amid a weak trend in global markets. Silver also lost R300 to R61,500 per kg on lack of buying support from industrial units and coin makers. Traders said limited purchases of the yellow metal at record high levels by stockists and retailers and weak cues from overseas market put pressure on golds prices. In New York, gold fell by $10.50 to $1,724.80 an ounce, while silver shed 1.01% to $33.34 an ounce.

Natural rubber demand up by 5%

Natural rubber consumption in the country rose by 5% to 4.20 lakh tonne in the first 5 months of 2012-13 fiscal. Its production rose marginally to about 3.14 lakh tonne during the same period. Natural rubber consumption during April-August 2012 was 4,20,440 tonne with a growth of 4.9% over the corresponding period in the previous year, Rubber Board chairman Sheela Thomas had said in Kottayam on Monday.

Chana futures hit lower circuit

Chana prices tumbled by a daily lower limit of 4% in futures trade as traders booked profits on reports of higher production following improved rains and sluggish domestic demand. At the NCDEX, chana for September delivery fell by R188, or 4%, to R4,517 per quintal, with an open interest for 12,580 lots.