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Gold rebounds on seasonal demand
Snapping a three-day losing streak, gold prices rebounded by Rs.200 to Rs.30,950 per 10 grams in the national capital today on a pick-up in wedding season demand. Silver followed suit and recovered R295 to R58,600 per kg on increased offtake by industrial units and coin-makers. However, gold had lost R295 and silver R675 in the last three sessions. Traders said a pick-up in demand amid a firming global trend was mainly responsible for the recovery. Gold in overseas markets, which normally sets the price trend on the domestic front, rose by $6.80 to $1,674.40 an ounce in New York last night. On the domestic front, gold of 99.9% and 99.5% purity jumped by R200 each to R30,950 and R30,750 per 10 grams, respectively. Sovereign rose by R50 to R25,350 per piece of 8 grams.
Rourkela Steel Plant puts up record show
The Rourkela Steel Plant (RSP), a unit of SAIL , has registered its best-ever production performance in key areas in the first 10 months of the current fiscal. The plant produced 19,69,801 tonne of hot metal, 18,43,392 tonne of crude steel and 17,71,339 tonne of saleable steel during April 2012-January 2013, the highest figures since its inception, said a company spokesperson.