New York silver future on Monday evening dipped to 523 cents from 529 cents an ounce, but New York silver future flared upto 544 cents an ounce on Tuesday and dollar in the forex touched Rs 42.10 per dollar, consequently, in the absence of fresh offerings, spot silver .999 recorded a sharp rise of Rs 175 at Rs 7850 a kg. and silver weekly delivery, too, climbed upto Rs 7800 from Rs 7655 a kg on speculative buying. Demand in silver was reported strong from investors as well as stockists. Imported arrival on Monday dipped to about 4000 kgs.

Silver coins flared up by Rs 100 at Rs 10,400-10,500 per 100 pieces in sympathy.

Gold in London moved upto $295 from $292 an ounce and import being costly because of firm dollar, gold biscuit and standard mint gold flared up by 85 at Rs 4310 and Rs 4325 per 10 gram respectively and gold sovereign also recorded a gain of Rs 25-50 at Rs3500-3550 per 8 gram.

Rice permal firms up

In mixed market conditions, prices, on the Delhi grains and pulses market moved in a narrow range on Tuesday.

Daily arrival of wheat was down by 2,000-3,000 bags to about 10,000 bags and on extension of procurement period, further fall in wheat is ruled out. On zooming demand from exporters, rice permal firmed up by Rs 10-25 at Rs 850-990 a quintal.

Pulses traders were still in the grip of payment crisis, consequently, quality urad and moong dipped by Rs 10-25 a quintal. Arrival of new summer moong was reported from UP. Scattered arrival of moong was reported from Rajasthan, Maharashtra and MP. Daily arrival of gram declined to about 65-70 lorries, but demand from dal millers and speculators remained thin because of tight money market conditions. Rajmash chitra recorded a gain of Rs 25 at Rs 2750-3025 a quintal on stockists buying.

Sugar easy

Sale by the UP co-operative and officials sugar mills was reported negligible, but business remainedsluggish in mill delivery sugar because of buyers resistance at higher level. Mawana sugar slipped by Rs 10 at Rs 1440 a quintal. On increased offerings, khandsari also revealed an easy tendency.

Uptrend continues in edible oils

Palmolein in Malaysia ruled easy, but due to decline in mustard and sunflower seed production and on firm producing centres advices, edible oils prices continued to show a soaring tendency. Mustard oil expeller further climbed up by Rs 20-40 at Rs 4000 and Rs 4020 a quintal and sunflower oil rose to an all time high at Rs 4000, showing a sharp spurt of Rs 50 a quintal and cottonseed oil was up by Rs 20 at Rs 4050 a quintal as cotton production, this season, was down to about 144 lakh bales from 170 lakh bales.

Castor oil prices scaled a new high as production of castor was down coupled with export of 2.50 lakh tonnes castor oil, prices started climbing up. In Mumbai, castor oil touched a high of Rs 3100 a quintal and Mahuwa, ricebran and palmfatty oils also showed arising tendency. Telia in Rajkot ruled at Rs 690 a tin. Mustard laha flared up by Rs 50 a quintal on better demand.

Spices dull

On holding of stocks by the stockists, almond Afghani, girdi and gurbandi flared up by Rs 150-200 at Rs 3850-5000 per 40 kgs.

Copra, on higher production coupled with slack demand tumbled down by Rs 100 at Rs 4000-5100 per quintal while about one week ago, it was quoted at Rs 4100-6000 a quintal.

No marked variation was observed in spices. However, red mace slipped by Rs 10 a kg. due to poor offtake.

Harapatta shoots up

Harapatta, B. Twill (2 & 2, lbs) shot up by Rs 25-50 at Rs 1525, Rs 1750 and Rs 2350 per 100 bags on the back of advices from Calcutta where B. Twill and hessians flared up by Rs 100-200 at Rs 16500-17400 and Rs 23500-24300 per tonne. A. Twill, hessians and twines in markets here held steady.

Hank yarn steady

Mostly counts in hank and cone yarn were steady on good demand from local and adjoining states handloom and powerloomunits.

In waste yarn also, due to buoyant demand from durree, carpet and duster weavers, waste yarn (2) were firm. On the other hand, mostly counts in hosiery yarn were sluggish and unchanged due to poor offtake.

Hexamine declines

Menthol flake and mentha oil declined by Rs 10-15 at Rs 460 and Rs 335 per kg. on poor demand from local and adjoining states. Hexamine, on lower enquiries declined by Rs 3 at Rs 45 a kg. and boric acid technical slumped by Rs 50 per 50 kgs whereas on tight ready stock, citric acid held steady and acetic acid also were firm.

Metals slip

Tin ingot and nickel plate moved down by Rs 2-5 at Rs 360 and Rs 290-360 per kg on stockists unloading coupled with poor demand from industrial users.

Zinc slab, copper utensils, mixed scrap and accessories also slipped by 25-50 paise per kg. Trading was down on Tuesday due to weekly off in Shahdra industrial areas.