Standard gold gained by Rs 10 to Rs 4,320 per 10 gm. Gold .22 caret recovered by same margin to Rs 3,995 per 10 gm. in sympathy. Prices of gold biscuit (116.50 gm.) moved up by Rs 50 to Rs 50,600 per piece. Renewed demand for wedding season mainly attributed to the recovery, dealers said. Besides tight supplies, higher global advices and firm trend in dollar value kept offerings restricted. In the global market gold placed at $295.25 per ounce.

Silver .999 closed Rs 5 higher at Rs 7,495 per kg on fresh industrial demand at higher level. Silver .916 was down by Rs 20 at Rs 7,360 per kg. Continued arrivals of contraband silver from China also attributed to the slide in the ready section. In the global market the white metal looked firm at $4.97 as against $4.94 per ounce previously.

G'nut oil slides

Groundnut oil suffered a modest loss while castorseed and its oil slipped further on the oil,oilseeds market here today.

Groundnut oil edged down by Rs 2 to Rs 465 per 10 kg. amidst poor buying interest. Restricted supplies from Gujarat state kept volume at a low ebb. In Rajkot prices quoted lower at Rs 635/640 as against Rs Rs 650 per 15 kg. earlier.

Imported palm oil ruled steady at Rs 355 per 10 kg exclusive of tax despite weak overseas advices as uptrend in dollar value against rupee arrested fresh fall in the prices. In the global market palm oil placed lower at $ 687.50 per tonne for nearby delivery and $675/682.50 per tonne for forward delivery it was learnt.

Meanwhile castor oil reacted by Rs 4 to Rs 423/435 per 10 kg on demand resistance from overseas buyers. Castorseed ready closed Rs 20 lower at Rs 1928/1934 per quintal following continued new crop supplies. Arrivals of castorseed in the Gujarat region has picked up to 6000 bags, according to dealers.

In the futures section castorseed December delivery declined from Rs 1682 to Rs 1661 before settling at Rs 1670 per quintal on bull unloading at higher level.

In Ahmedabad December delivery placed lower at Rs 1,738 and in Rajkot at Rs 1,685 per quintal. In Gujarat region castorseed ready delivery quoted lower at Rs 355 per 20 kg. while castor oil ruled weak at Rs 405/410 per 10 kg. Hyderabad advices remained steady at the improved level.

Sugar maintains

A quiet tendency prevailed on the sugar market due to slack demand.M-30 at Rs 1445-1500 and S-30 at Rs 1425-1460 a quintal ex-godown ruled static. However, following rise in the transport charges the ex-octroi checkpost price moved up by Rs 5 at Rs 1430-1450 and at Rs 1405-1425 respectively. Imported sugar was on offer at Rs 1425 inclusive of sales tax.In tenders, M-30 at Rs 1380-1395 and S-30 at Rs 1360-1370 were mentioned steady.

Wheat declines

An easy trend prevailed in medium quality wheat on the grains market. Elsehwere, a quietly steady condition was in evidence.

On very sluggish demand wheat price declined by Rs 25 to 30 a quintal. Milling wheat found sellers at Rs 760-765 a quintal. Among other wheat, north Gujarat Tukadi were placed at Rs 790-825 and 496 at Rs 825-850. Saurashtra lokvan were traded at Rs 750-825 and SW at Rs 825-1000.

Rice Gujarat-17 at Rs 1700-1750, permal Punjab at Rs 925-1200 and superior at Rs 1250-1350 were maintained.

Among pulses, green peas USA ruled at Rs 1600-1625 and Canadian at Rs 1100-1125. White peas Canadian ready and November/December shipments were quoted at Rs 950-960 and at Rs 925 respectively. Tur Mynamar 98 found sellers at Rs 2200 and 97 at Rs 2100. Kenyan tur ruled at Rs 2100 and Tanzanian at Rs 2225. Australian gram were traded at Rs 1550. Myanmar moong and urad ruled at Rs 1850-1900 and at Rs 1675-1700 respectively.

Punjab cotton reacts

Punjab cotton price registered a small reaction on the cotton market. Other cottons were steady with an easy undertone.Meanwhile, the Cotton Advisory Board (CAB) is meeting here tomorrow to assess the crop and demand situation.Arrivals in Punjab zone were around 14,000 bales. The price reacted by Rs 10 a maund on lack of adequate buying inquiries. Bengal deshi roller-ginned were placed at Rs 1570-1625, J-34 saw-ginned good average at Rs 1760-1850 and cart selected at Rs 1820-1950 spot.

Sanker were unchanged in the range of Rs 18,500-19,800 a candy. MP Y-1 at Rs 17,800-18,100, LRA at Rs 18,200-18,500 and H-4/MECH-1 at Rs 19,000-19,600 were quiet.

Poly yarn better

A slightly better trend prevailed in polyesters on the yarn market. Other yarns continued to be dull.

On reports of improvment in power situation in Bhiwandi the price of polyester yarn 80dn looked up by a rupee per kg. Grey first quality of medium sized units 80dn rotoset were placed at Rs 80-81, micro rotoset at Rs 90, weft at Rs 76 and warp at Rs 87-88. 80/1000dn and 80/1400dn were sought after at Rs 117-118 and at Rs 127-128 respectively.

150dn were quietly steady. Weft ruled at Rs 60-61 and warp at Rs 70-71. 150dn single roto were quoted at Rs 64-65 and double roto at Rs 67-68.