Standard gold officially finished Rs 10 higher at Rs 4,330 per 10 kg but reacted at Rs 4,315/4,320 in the kerb trading. Likewise prices of gold biscuit (116.50 gm) officially placed at Rs 50,600 but later on slipped to Rs 50,450/50,500 per piece following bearish global advices. In the overseas market gold fell from $268.90 to $265.50 per troy ounce immediately after auction of gold in Britain where the said auction was gone through at the rate of $266 per troy ounce and it was over subscribed by two times, it was learnt. Meanwhile silver .999 here spurted by Rs 55 at Rs 7,445 per kg.

Silver .916 recovered by Rs 50 at Rs 7,330 per kg in sympathy. Fresh industrial demand, tight supplies of raw silver and recovery in the overseas market triggered silver prices upward in the local market, according to a broker here. In the international market the white metal looked up from $4.43 to $4.45 per troy ounce.

Oil, oilseeds: Groundnut oil lost some of the recent gains on the oil and oilseeds market here on Wednesday. Imported palm oil however closed higher inspite of weak trend in the global market as rally in the dollar value kept offerings limited, dealers said.

Groundnut oil fell by Rs 5 at Rs 330 per 10 kg amidst demand resistance and light profit taking. In Rajkot, prices fell from Rs 540 to Rs 535 per 15 kg. In Rajkot, prices quoted lower from Rs 540 to Rs 535 per 15 kg.

Imported palm oil posted Rs 2 higher at Rs 247 per 10 kg. In the overseas market it was quoted lower by $5 at $242.50 per tonne. Long deliveries were placed at $247.50/252.50 per tonne.

Castor oil remain steady at Rs 269/281 per 10 kg. So was castorseed ready at Rs 1,195 per quintal.

In the futures section castorseed April delivery held at Rs 287 per 10 kg. In Ahmedabad castorseed April delivery closed lower from Rs 1,172.50 to Rs 1,163 while in Rajkot prices slipped from Rs 1,172 to Rs 1,164.50 per quintal respectively. Traders reported castorseed arrivals of 38,000/40,000 bags in Gujarat.