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Physical rubber prices turn weak on Friday

06 Oct 2012 Evaluate

Physical rubber prices turned weak on Friday, recording moderate losses following the decline in futures. The commodity lost ground mainly on buyer resistance, though there was no visible selling pressure.

Spot prices for RSS- 4 variety declined to Rs. 195/ kg compared to its previous closing of Rs. 196/ kg, while RSS- 5 variety closed at Rs. 189/ kg compared to its previous closing of Rs. 190/ kg.

In the futures market, contract of October delivery fell to Rs. 192.75 compared to its previous closing of Rs. 194.92, while November delivery closed at Rs. 187.80 compared to its previous closing of Rs. 191.13 on the National Multi Commodity Exchange (NMCE).

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