Mumbai, Sept 26: Gold and silver suffered losses at the higher level on the bullion market here today. Standard gold reacted by Rs 30 to Rs 4,270 per 10 gm. Gold .22 carat moved down by Rs 30 to Rs 3,950 per 10 gm. Prices of gold biscuit (116.50 gm.) dropped by Rs 500 to Rs 50,500 per piece. Demand resistance arrested the rally while weak overseas advices prompted profit-taking by stockists and local bankers. In the global market gold placed lower from $299.50 to $294 per ounce.Silver .999 eased by Rs 20 to Rs 7,700 per kg. In the ready section silver .916 slipped by Rs 25 to Rs 7,575 per kg in sympathy. Industrial and seasonal buying turned sluggish at higher level while brisk inflow of raw silver from local sources followed by weak overseas advices put pressure on the prices, dealers said. Delhi was weak and in the global market the white metal moved down from $5.21 to $ 5.78 per ounce.
G'nut oil up
Groundnut oil looked up on stray festival demand on the oil,oilseeds market here today.Castorseed and its oil spurted as lower prices attracted fresh overseas enquiries.
Groundnut oil edged up by Rs 3 to Rs 597 per 10 kg on seasonal buying while thin supplies and acute shortage of ready stock kept offerings restricted. In Rajkot prices ruled steady at Rs 860/870 per 15 kg.
Imported palm oil finished a rupee lower at Rs 387 per 10 kg exclusive of tax on fresh arrivals. October delivery was quoted lower at Rs 379/380 per 10kg. Castor oil recovered by Rs 5 to Rs 446/458 per 10 kg on renewed overseas enquiries. Castorseed ready lifted up by Rs 24 to Rs 2,039/2,045 per quintal due to thin offerings in the wake of fag end of the season. New crop supplies yet to commence and the market is facing shortage of nearby supplies, according to a dealer.
In the futures section castorseed December delivery placed firm. It was opened from Rs 1,744 to Rs 1,751, finally closed at Rs 1,749 per quintal as higher Gujarat advices prompted short covering by bears and shippers, floor sources said. MaturingSeptember delivery remained absent from trading as major players already switched over to December delivery, they added.
Sugar unchanged
A steady trend prevailed on the sugar market. Activity was restricted.
M-30 were placed at Rs 1460-1515 and S-30 at Rs 1440-1460 a quintal ex-godown. Ex-octroi checkpost, M-30 were on offer at Rs 1440-1450 and S-30 at Rs 1420-1430.
In tenders also M-30 at Rs 1400-1405 and S-30 at Rs 1380-1390 in Kolhapur line ruled unchanged.
Grains steady
A quietly steady trend prevailed on the grains market. Activity was restricted.
Milling wheat were placed at Rs 700-711 a quintal. Wheat Saurashtra Lokvan were traded at Rs 775-850 and SW at Rs 900-1125. North Gujarat wheat found support at Rs 750-825. MP 147 and Sarbati were quoted at Rs 800-900 and at Rs 900-1400 respectively.
Rice SLO were mentioned at Rs 1125-1150. Permal FCI were placed at Rs 850-925 and superiror at Rs 1250-1300. Gujarat-17 were transacted at Rs 1600-1700. Andhra Kattar ruled at Rs1125-1150.
Among pulses, green peas USA were placed at Rs 1625 and Canadian at Rs 1030-1040. White peas Canadian ready ruled at Rs 915-925 and shipments at Rs 850-875. Australian gram met with support at Rs 1375. Rajma chitra deshi were quoted at Rs 2250-2300 and red imported at Rs 2050-2100.
Bengal deshi ends lower
A dull-to-easy trend was noticed on the cotton market following slack demand.
In Punjab zone, ready Bengal deshi shed Rs 20 a maund at Rs 1480-1500 spot. J-34 saw-ginned good average at Rs 1725-1780 and Cart selected at Rs 1800-1980 were static.
In forward, Bengal deshi October and November were quoted at Rs 1335-1380 and at Rs 1290-1310 respectively. J-34 saw-ginned good average were placed at Rs 1715-1760 and November at Rs 1705-1725, down by Rs 5 to 10. Cart selected November ruled steady at Rs 1800-1860.
Yarn quiet
A quiet condition continued on the yarn market.
Viscose filament yarn bright cones first quality Century Rayon/Indian Rayon 150dn were placed at Rs224, 120dn at Rs 247, 100dn at Rs 260 and 75dn at Rs 269 a kg.
Nylon yarn Shreelon 15/1/0dn were placed at Rs 240 and 20/1/0dn at Rs 225. Gujnil 30/1/0dn ruled at Rs 290 and 111/24/0dn at Rs 157.
Delhi
Zeera slumped by Rs 100 per quintal following easy advices from producing markets. Cardamom small also fell by Rs 5 per kg. In dry frutis, Copra firmed up by Rs 50 at Rs 5550 per quintal and lack on stock.
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