Mumbai, March 12 : Bullion: Gold and silver prices moved in both ways before settling firm on the bullion market here on Monday. Standard gold went up from Rs 4,320 to Rs 4,390 and closed the day at Rs 4,340 with a net gain of Rs 20 per 10 gm. Likewise gold .22 carat was quoted Rs 20 higher at Rs 4,015 per 10 gm in sympathy. Prices of gold biscuit (116.50 gm.) spurted from Rs 50,500 to Rs 51,300 and closed the day at Rs 50,850 with a net overnight gain of Rs 350 per piece. Brisk seasonal demand lifted prices upward in the early session. But later on news of reaction in the global market, prompted profit taking among stockists and local bankers at the close of the session, dealers said. In the overseas market gold at one stage placed at $272.50 ($268.50) finally settled at $271.70 per troy ounce. Silver .999 moved up by Rs 15 at Rs 7,490 per kg. Silver .916 gained by Rs 15 at Rs 7,375 per kg. Stray industrial buying and encouraging Delhi and global advices kept silver prices firm during the day. In theinternational market silver placed at $4.53 ($4.51) per troy ounce.OIL, OILSEEDS: Groundnut oil remained firm on the oil, oilseeds market here on Monday. Imported palmoil on the other hand reacted modestly after recent rally.
Groundnut oil closed Rs 2 higher at Rs 330 per 10 kg amidst tight supplies. In Rajkot prices fell from Rs 545 to Rs 535 per 15 kg.
Imported palmoil here declined from Rs 245 to Rs 243 per 10 kg amidst demand resistance and light profit taking among Indian importers. In the global market palmoil quoted higher by $5 at $240 per tonne for nearby delivery, while long deliveries were quoted at $245/247.50 per tonne, it was learnt. Castor oil ruled quiet at Rs 268/280 per 10 kg on stray overseas enquiries. Castorseed ready were steady at Rs 1,190 per quintal.
In the futures section there was no trading reported in castorseed April delivery. Castor oil April delivery was steady at Rs 286 per 10 kg.In Ahmedabad castorseed April delivery closed at Rs 1,167 and in Rajkot at Rs 1,168 per quintal respectively, while spot prices were under pressure as traders reported castorseed arrivals of 50,000/52,000 bags inGujarat.
Copyright © 2001 Indian Express Newspapers (Bombay) Ltd.
