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Precious metals plunge sharply

Mumbai, Feb 21 (UNI) Both the Precious metals fell sharply today with Silver plunging by a whopping Rs 335 per kg and pure Gold lost its shine by Rs 135 per tem gm, on the Bombay Bullion Exchange.

Standard Gold (99.5) and pure Gold (99.9) opened downward at Rs 9,470 and Rs 9,515 per ten gm on sluggish demand.

Later, the yellow metal declined further and closed at Rs 9,450 and Rs 9,500 per ten gm with a loss of Rs 140 for standard Gold and Rs 135 for pure Gold from its yesterday's close.

In London, the yellow metal also eased at USD 657.80/659.00 per troy ounce as compared to USD 665.60/667.30 per troy ounce in New York on Tuesday.

Silver fineness opened downward at Rs 20,180 per kg. Later it eased further and closed at Rs 20,105 per kg with a huge loss of Rs 335 from its last close.

In London, the white metal also declined at 13.73/13.75 per troy ounce against USD 13.94/13.98 per troy ounce in New York.

Following are the spot silver and gold closing prices: Silver (per kg) .999 grade : Rs 20,105 (20,440) Gold (per 10 gm): Standard mint 99.5 purity : Rs 9,450 (9,590) Pure gold 99.9 purity : Rs 9,500 (9,635) UNI

SAOL to acquire two solvent extraction plants in MP

Mumbai, Feb 21 (UNI) Sanwaria Agro Oils Limited (SAOL), a leading soyabean processor and refined soyabean oil maker, has announced plans to acquire two Solvent Extraction Plants in Madhya Pradesh at a cost of Rs 15 crore. ''The market for refined soyabean oil in India is estimated to be worth Rs 7500 crore. These acquisitions and further investment in them will enhance our present capacity by 1000 metric tonnes that will go a long way in helping SAOL meet market demand,''.....

Rupee flat at 44.1850/1950 against the US dollar

Mumbai, Feb 21 (UNI) The Rupee today remained steady at 44.1850/1950 against the US dollar, from its previous close of 44.18/19 at the interbank foreign exchange (Forex) market here, amid speculation of a further hike in the cash reserve ratio (CRR) and the Bank of Japan's (BoJ's) decision to raise its benchmark interest rate to 0.5 per cent. The Bank of Japan's decision, which came at the end of a two-day monetary policy board meeting, highlights confidence that price stability and.....

Guar contract settles at Rs 1767, Soya oil at Rs 437 per 10 kg

Ahmedabad, Feb 21 (UNI) National Multi-Commodity Exchange (NMCE) has settled the Guar seed (February ) contract at Rs.1767 per quintal and Soya oil (February) at Rs.437 per 10 kg as the futures trading for the February series that matured yesterday. While Guar seed was traded in the range of Rs 2084 in December first week and Rs.1825 this month. Soya oil was traded in the range of Rs.481.05 and Rs.436.15 over the same period. Meanwhile, NMCE has introduced the new June-2007.....
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