Silver spurted by Rs 125 to Rs 8,375 per kg. In the ready section silver .916 was up by Rs 160 to Rs 8,265 per kg. Industrial demand was at a low ebb but poor supplies, shortage of ready stock followed by rally in dollar value against rupee and firm global prices prompted brisk speculative buying. Delhi was firm and in the global market the white metal climbed from $5.43 to $5.59 per ounce.

Standard gold looked up by Rs 5 to Rs 4,375 per 10 gm. Gold .22 carat moved up by Rs 5 to Rs 4,045 per 10 gm. Prices of gold biscuit (116.50gm.) rose by Rs l50 to Rs 51,300 per piece. Seasonal buying was slow but uptrend in dollar value and thin supplies kept gold firm. Fear that government may announce couple of measures to curb excess import of precious metals in the Union budget on Saturday also aided the bullish sentiment. In the overseas market gold was subdued at $286.50/286.75 per ounce.

Castor futuresspurt

Groundnut oil ruled quiet in a narrow band and slow trading on the oil,oilseeds market here today. Castorseed and its oil on the other hand jumped up on the back of uptrend in dollar value and continued overseas demand.

Groundnut oil maintained at Rs 420 per 10 kg as major players were stayed away ahead of Union Budget which kept volume of trading limited. In Rajkot it was quite at Rs 620/625 per 15 kg. Imported palm oil held at the reduced level of Rs 305 per 10 kg on eased supplies at Mumbai port, but demand was dull. In the global market palm oil closed static at $530 per tonne for nearby delivery and at $500/510 per tonne for long delivery, it was learnt.Castor oil edged up by Rs 2 to Rs 318/332 per 10 kg on fresh overseas enquiries. Castorseed ready placed higher by Rs 10 to Rs 1,424/1430 per quintal in sympathy. In the futures section castorseed June delivery moved up from Rs 1,429 to Rs. 1,454 per quintal on short covering by bears and shippers while maturing March delivery remainedabsent from trading.In Ahmedabad April delivery closed at Rs 1,429 and in Rajkot it was placed at Rs 1,426 per quintal respectively.

Sugar gains afresh

Sugar price looked up afresh on buying support, coupled with thin supply.With supply from the factories not likely to come for the next two days due to continuing bank employees' strike and the budget day and sustained moderate buying support, sugar price hardened further by Rs 5 a quintal. Ex-octroi checkpost, M-30 were up at Rs 1420-1430 and S-30 at Rs 1395-1405.Ex-godown, M-30 were placed at Rs 1420-1490 as against Rs 1420-1480. S-30 held steady at Rs 1410-1425.

Ex-mill deals continued to be hit due to bank strike. Brazilian sugar ruled steady. White were traded at Rs 1335 and biscuit colour at Rs 1235 plus sales tax.

Milling wheat down

A dull-to-easy condition prevailed on the grains market on low business passing.

Milling wheat price shed Rs 5 on increased supply. New stuff was on offer at Rs 707 which caused a dent of Rs 5 inthe old material rate which was down to Rs 725-731. Other wheat and rice ruled unchanged. Saurashtra new wheat were placed at Rs 775-865 for Lokvan and at Rs 850-900 for SW. MP 147 and Sarbati ruled at Rs 775-850 and at Rs 900-1300 respectively.

Rice SLO were traded at Rs 1050-1200 and Perimal Punjab at Rs 950-1100.Among pulses, Australian gram price lost further Rs 100 at Rs 1050 on incerased offerings of deshi goods. Rajma red imported price dropped down from Rs 2300-2400 to Rs 2100-2200 as the consignments from Myanmar has reached here. Tur Myanmar at Rs 1400, Kenyan at Rs 1700-1750 and Tanzanian at Rs 1800 were quietly steady. Green peas USA Heart were on offer at Rs 1300-1325 and Canadian at Rs 811-815. Urad Myanmar were also static at Rs 1450.

Cotton divergent

A mixed trend prevailed on the cotton market. Activity was restricetd.In Punjab zone, Bengal deshi price lost further Rs 10 to 15 a maund on unabated selling pressure. Roller-ginned Punjab were down to Rs 1350-1425, Haryana to Rs1350-1360 and Rajasthan to Rs 1380-1400 spot. J-34, on the other hand, rallied by Rs 10 on buying support. Saw-ginned good average Punjab and Haryana were up at Rs 1650-1750 and at Rs 1615-1670 respectively while Rajasthan were quoted at Rs 1660-1690. Cart selected Punjab fetched Rs 1800-1920, Haryana Rs 1700-1710 and Rajasthan Rs 1700-1715. J-34 roller-ginned good average ruled in the range of Rs 1550-1650. Arrivals comprised of 1200 bales of Bengal deshi and 6500 bales of J-34.

Other cottons remain static.

In futures, February contract went off the board at 4809. April resumed lower by 5 points at 4911 and fell further to end at 4901 on selling pressure. June shed 3 points and ended at 4980. New cotract September was slated to come on the board on March 3.

Yarn dull

Prices ruled steady and volume of business on the low side on the yarn market.

Activity came virtually to a halt on the eve of the budget. Polyester texturised yarn grey first quality of medium-sized units 80dn rotosetruled at Rs 95, micro rotoset at Rs 96-97, weft at Rs 88-90 and warp at Rs 96-97 a kg. 150dn weft and warp were placed at Rs 66-68 and at Rs 75-76 respectively. Single roto were quoted at Rs 73-74 and double roto at Rs 76-77.