Gold and silver futures contracts opened mixed on Monday, with gold down 0.07% and silver up 0.62%. Gold prices jumped Rs 900/10 grams in the last 2 days, while silver prices increased by Rs 1,750/kg. Gold and silver prices recovered from 1-month and 3-1/2 month lows due to a weaker dollar index and bond yields.
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Shares of metal companies, especially steelmakers, rose in early trade on December 23 after the Directorate General of Trade and Remedies (DGTR) took notice of the steel industry's request seeking a 25% safeguard duty on imports and began its investigation on the matter. Even though a decision on the matter is expected following the DGTR's investigation, CNBC-Awaaz reported, citing sources.
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India Cements share price jumped 11% to reach a new 52-week peak during Monday’s trading session after the announcement that CCI has sanctioned UltraTech Cement Limited’s acquisition of The India Cements Limited. On July 28, UltraTech Cement disclosed its plan to acquire a 32.72 percent ownership in India Cements from its promoters and associated entities in a deal worth ₹3,954 crore.
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