Bizbits

Gold, silver prices decline further

MUMBAI: The precious metals declined sharply on the bullion market here Wedneday due to increased supplies as against poor local demand. Weak New York advices also helped the downtrend. Silver ready .999 fineness dropped by Rs 30 to Rs 7655 and tenderable silver by Rs 30 to Rs 7660 from Rs 7685 and Rs 7690 respectively. Rawsilver .916 fineness declined by Rs 35 to Rs 7530 from Rs 7565. Standard gold slumped by Rs 25 to Rs 4325 while 22-carat gold was also quoted lower by Rs 25 to Rs 4000. Ten-tola gold bar .999 purity slumped by Rs 450 to Rs 50,650 from Rs 51,100.

PwC8217;s risk management practice

MUMBAI: PricewaterhouseCoopers PwC, the world8217;s largest professional services firm, has announced its financial risk management practice for the Indian market. Ashvin Parekh, executive director, financial services industry practice, will spearhead the operation in India. Juan Pujadas, global leader, financial risk management practice, said quot;our firm works with various organisation around the world to develop and maintain a competitive edge by managing risk at a strategic and tactical level.quot;