Standard gold climbed by Rs 25 at Rs 4,540 per 10 gm. Gold .22 carat moved up by same margin at Rs 4,200 per 10 gm. Prices of gold biscuit (116.50 gm.) rose by Rs 350 at Rs 53,200 per piece. Traders reported brisk physical buying for gold ahead of wedding season while tight supplies followed by bullish global advices kept offerings restricted. Gold biscuit was up by Rs 50 on Monday. Slide in dollar value against rupee had little impact on the bullish bullion market owing to encouraging global advices as well as seasonal demand, according to market sources. In the global market the yellow metal shot up from $270.60 to $272 per troy ounce. Meanwhile dollar prices slipped from Rs 46.85 to Rs 46.76.

Silver .999 placed Rs 55 up at Rs 7,880 per kg. Silver .916 changed hands by same margin at Rs 7,775 per kg. Industrial buying was slow but continued seasonal buying helped silver to recover fresh grounds, dealers said. Restricted supplies of raw silver from local sources, thin inflow of imported metal coupled with higher Delhi and global advices attributed the upsurge. In the overseas market silver looked up from $4.67 to $4.71 per troy ounce.

OIL, OILSEEDS: Groundnut oil placed a quiet note on the oil, oilseeds market here today. Imported palmoil however suffered losses on weak advices from Malaysian market while castorseed ready and forward deliveries moved in opposite direction.

Imported palmoil here reacted to Rs 218 (Rs 219) per 10 kg in the official session and dropped to Rs 212/213 in the kerb deals, following news of sharp drop in the global market due to withdrawal of European buying, it was learnt. In the international market palmoil quoted lower at $245.50 ($255) per tonne for nearby delivery, while long deliveries were available at $245/252.50 per tonne. Castor oil edged down by Rs 2 at Rs 293/305 per 10 kg in absence of overseas interest. Castorseed ready declined by Rs 10 at Rs 1,315 per quintal following news of continued new crop supplies in Gujarat and Andhra Pradesh.

In the futures section castorseed February delivery recovered from Rs 1,305 to Rs 1,316 before settling at Rs 1,309 per quintal on light covering by bears. Castor oil February delivery placed at Rs 312 per 10 kg and palmolien January delivery finished Rs 3 lower at Rs 217 per 10 kg. In Ahmedabad castorseed December delivery changed hands at Rs 1,302 and February delivery at Rs 1,296.50 per quintal respectively.