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Gold falls one month low

Mumbai, Mar 5 (UNI) Both the precious metals registered a downward trend, with Gold declining to a month's low, sliding by Rs 35 per ten gm, and Silver fell by Rs 245 per kg on weak global advices today on the Bombay Bullion Exchange.

Silver fineness opened downwards at Rs 19,200 per kg. Later, it eased further and closed at Rs 19,085 per kg with a huge loss of Rs 245 from its Saturday's close.

In London, the silver also eased to 12.58/12.60 per troy ounce against USD 12.53/12.58 per troy ounce in New York.

Similarly, standard Gold (99.5) and pure Gold (99.9) opened weak at Rs 9,270 and Rs 9,315 per ten gm on poor demand.

The yellow metal eased further and closed at Rs 9,260 (standard gold) and Rs 9,305 (pure gold) per ten gm with a loss of Rs 30 and Rs 35 respectively from its last close.

In London, the yellow metal was down at USD 636.80/638.00 per troy ounce as compared to USD 658.40/660.30 per troy ounce in New York on Friday.

Following are the spot Silver and Gold closing prices: Silver (per kg) .999 grade : Rs 19,085 (19,330), Gold (per 10 gm): Standard mint 99.5 purity : Rs 9,260 (9,290), Pure gold 99.9 purity : Rs 9,305 (9,340).

UNI

Silver and Gold falls on weak global advice

Mumbai, Mar 5 (UNI) Spot Silver and Gold resumed today on a weak note in the opening session, traders at the Bombay Bullion association said. Following are the opening rates of Spot Silver and Gold: Silver (per kg).999 fineness grade: Rs 19,200, Gold (per 10 gm): Gold 99.5 purity standard mint : Rs 9,270, Gold 99.9 purity pure Gold : Rs 9,315. UNI.....

Steel manufacturers rollback price hike

Mumbai, Mar 5 (UNI) Heeding the Government's advice to contain prices to keep inflation under check, Steel majors SAIL, Rashtriya Ispat Nigam Ltd, Essar Steel, Ispat Industries, JSW Steel and Tata Steel today agreed to cut prices of TMT bars, galvanised steel and HR coils. The prices of HR coils have been reduced to Rs 27,000 per tonne from 27,500 per tonne. The increase in prices of TMT bars and galvanised steel would be rolled back entirely by about 100 per.....

ICICI Bank to incorporate new subsidiary ICICI holdings

Mumbai, Mar 5 (UNI) ICICI Bank today informed the BSE that their Board of Directors have approved the incorporation of a new wholly-owned subsidiary, ICICI Holdings. The bank intends to transfer its investments in ICICI Prudential Life Insurance Company Ltd (ICICI Life), ICICI Lombard General Insurance Company Ltd (ICICI General), Prudential ICICI Asset Management Company Ltd (ICICI AMC) and Prudential ICICI Trust Ltd (ICICI Trust) to the new Company. ICICI Bank currently holds approximately 74 per cent of ICICI Life.....
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