Gold tumbles, pulses zoom
In a significant contrast, the prices of pulses have raised to 41 per cent in retail segment in the last one year, while gold prices are receding sharply. Government in a reply to Parliament said in the last one year the retail prices of major pulses jumped up to 40.73 per cent. According to the Food Minister Ram Vilas Paswan, the raising prices are due to declining production owing to adverse weather conditions.
New Delhi: In a significant contrast, the prices of pulses have raised to 41 per cent in retail segment in the last one year, while gold prices are receding sharply. Government in a reply to Parliament said in the last one year the retail prices of major pulses jumped up to 40.73 per cent. According to the Food Minister Ram Vilas Paswan, the raising prices are due to declining production owing to adverse weather conditions.
On the other hand, the gold prices fell by Rs 320 on Friday to trade at Rs 25,050 per 10 gms and silver cracked the Rs 34,000 level to trade at about five-year low at the bullion market. It is due to weak trend in global market and slackened demand from jewellers and retailers, sources added.
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In another reply, Paswan had said the government has decided to import pulses to improve supplies in the domestic market and check prices. While the production on pulses is estimated to fall to 17.38 million tonnes in 2014-15 crop year (July-June) from 19.25 million tonnes in the previous crop year due to deficient monsoon and unseasonal rains and hailstorms during March-April.
Globally, gold in Singapore, which normally sets price trend on the domestic front, dropped by 1.2 per cent to $1,077.40 an ounce, the lowest level since February 11, 2010. Silver fell by 1.1 per cent to $14.50 an ounce, its lowest level since December last year.
