Gold at new high

Mumbai, Oct. 8: Gold prices, both standard and pure gold, zoomed to close at a new high of Rs 6,875 and Rs 6,905 per 10 grams respectively on the bullion market here today due to frantic buying spree. Silver also shot up further on heavy buying. Dealers said jewellers stocked up gold and silver ahead of the wedding and festival season.

Forex gain

Mumbai, Oct. 8: India's foreign exchange reserves rose by $42 million during the week ended September 30 to stand at $143.059 billion, according to the Reserve Bank of India. Foreign currency assets decreased by $128 million to stand at $136.920 billion. The fall in inflows is primarily due to revaluation of non-US foreign currencies, analysts said.

Dabhol power

New Delhi, Oct. 8: GAIL India Ltd, National Thermal Power Corporation and the Union power ministry will sign an agreement in Mumbai tomorrow to revive the Dabhol power project. The MoU will be signed in the presence of power secre-tary R. V. Sahi, GAIL chairman Proshanto Banerjee and NTPC chief C. P. Jain.