However, gold biscuit (116.50 gm) shot up by Rs 100 at Rs 50,600 per piece after gaining Rs 400 on Saturday amidst higher overseas advices and a spurt in dollar prices which prompted speculative interest in the local market, dealers said. In the international market, gold looked up from $258.75 to $259.20 pto.

oil, oilseeds: A FIRM trend in groundnut oil continued on the oil, oilseeds market here on Tuesday. Castorseed and its oil ruled quiet in ready delivery while prices were placed higher in the forward market on light covering by bears and shippers, dealers said. Groundnut oil shot up from Rs 302 to Rs 310 per 10 kg amidst festival buying, tight supplies and acute shortage of ready stock of quality oil. In Rajkot it ruled steady at Rs 520/525 per 15 kg. Imported palmoil moved up by Rs 3 to Rs 198 per 10 kg aided by an upsurge in dollar value and bullish overseas advices. Besides the expectation that government may hike import duty also helped the recovery, according to one importer. In the global market, palmoil quoted higher (from $200 it went up to $207.50 before settling at $205 per tonne), it was learnt. Forward deliveries changed hands at $210/215 per tonne.

Castor oil was unchanged at lower levels at Rs 277/289 per 10 kg on scattered enquiries. Castorseed ready held at Rs 1,235 per quintal. In the futures section, castorseed April delivery spurted to Rs 1,253 per quintal. Castor oil April delivery maintained at Rs 297 per 10 kg. And there was no trading reported in palmoil futures. In Ahmedabad, castorseed April delivery opened at Rs 1,260 and settled at Rs 1,252 per quintal. Traders reported castorseed arrivals of 38,000/40,000 bags in Gujarat.