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Gold climbs Mount 32k on festive demand
In a five-day long rally, gold prices regained R32,000 per 10 gm level after six weeks on sustained buying by stockists to meet the rising festive demand amid a firming global trend. Gold climbed R270 to R32,040 per 10 gm, a level last seen on September 26 and silver jumped up by R940 to R60,800 per kg on increased offtake by jewellery fabricators and industrial units for the auspicious festival of Dhanteras and Diwali. On the domestic front, gold of 99.9 and 99.5% purity shot up by R270 each to Rs 32,040 and R31,840 per 10 gm, a level last seen on September 26.
Commexes to open for muhurat trading on Diwali
The country's top five commodity exchanges — MCX, NCDEX, NMCE, ACE and ICEX — will open for 'muhurat trading' session for about two hours on the day of Diwali. The commodity bourses have fixed muhurat trading on November 13 from 5.30 pm to 8 pm in all commodities, the exchanges said in their separate circulars. The pre-open session will start from 5.15 pm on the day of Diwali and client code modification would be allowed between 8-8.15 pm, they said. The trading time will be same for domestic traded commodities and for global commodities like bullion, metals, crude, polymers and carbon credits.