Standard gold fell by Rs 10 to Rs 4,400 per 10 gm. Gold .22 carat was down by same margin at Rs 4,070 per 10 gm. Prices of gold biscuit (116.50 gm.) dropped by Rs 200 to Rs 51,600 per piece after losing Rs 450 on Friday. Seasonal buyers stayed away from the falling market as continued overseas supplies prompted fresh offerings by stockists and local bankers. In the global market initially gold fell to $280 per ounce on news that Britain will sell 125 tonnes of gold but later on, prices recovered to $282.50/283 per ounce, it was learnt.

Meanwhile silver .999 recovered by Rs 125 to Rs 8,250 per kg. Silver .916 was up by Rs 115 to Rs 8,100 per kg in sympathy. Demand for silver however was sluggish but eased overseas supplies and news of recovery in the international market triggered brisk speculative demand for the white metal. Delhi was firm and in the global market silver went up from $5.28 to $5.43 perounce.

G'nut oil further down

Groundnut oil prices eased further on the oil,oilseeds market here today. Castoseed and its oil remained quiet in the ready delivery. Today there was no trading in forward market.

Groundnut oil declined from Rs 392 to Rs 388 per 10 kg amidst thin consumer demand. In Rajkot prices ruled steady at Rs 600/605 per 15 kg.

Imported palm oil fell by Rs 4 to Rs 277 per 10 kg on fresh arrivals at Mumbai port coupled with thin upcountry demand. Prices may recover in the coming days according to a leading importer.

Castor oil was quiet at Rs 354/368 per 10 kg amidst nominal trading. Castorseed ready was steady at Rs 1597/1603 per quintal.

In the futures section there was no trading reported for castorseed June delivery due to lack of interest and poor attendence in the trading ring. In Ahmedabad June delivery initially went up to Rs 1565/1566 per quintal but later on closed lower at Rs 1558.50 per quintal. In Gujarat castorseed spot delivery was firm at Rs 307/308 per 20kg. Castor oil placed at Rs 339/340 per 10 kg. Traders were awaiting commencement of trading in castorseed September delivery as well as trading in international future contract in castor oil on Monday, it was learnt.

Cotton improves

A steady-to-better trend was noticed on the cotton market.

Short and medium staple items of Guajrat improved by Rs 200 a candy on better buying support. V-797 were quoted at Rs 11,700-12,200, Wagad at Rs 11,200-11,300 and Kalan-ginnned at Rs 11,600-11,900 spot.

Sanker average at Rs 14,000-15,000, medium at Rs 17,500-19,000 and superior at Rs 19,500-21,000 were steady.

With the arrivals over Punjab cotton were quoted steady.

Sugar easy

A dull-to-easy condition was in evidence on the sugar market as offtake remained sluggish.

M-30 were placed at Rs 1490-1540 as against Rs 1490-1550 while S-30 ruled at Rs 1465-1500 as against Rs 1475-1500 ex-godown. Ex-octroi checkpost, the price ruled static at Rs 1470-1480 and at Rs 1455-1465 respectively.In tendersalso a quietly steady trend prevailed as M-30 were indicated at Rs 1420-1430 and S-30 at Rs 1405-1415 in Kolhapur line.

Brazilian white sugar at Rs 1360 and biscuit colour at Rs 1245 plus sales tax were static.

Grains unchanged

A steady condition was in evidence on the grains market. Activity was limited.

Green peas USA Rumba/Heart were on offer at Rs 1300 and Canadian at Rs 831-935 a quintal. White peas Canadian were on offer at Rs 975. Tur Myanmar were well-held at Rs 1900-2000 on tight supply.

Urad Myanmar were sought after at Rs 1875. Moong Myanmar at Rs 1675-1900 and Chinese at Rs 1825-1900 were steady.

Kabuli gram A-2 and B-2 were well-hled at the earlier high levels of Rs 3300-3400 and at Rs 2900-3000 respectively on reserved selling. C-2 ruled at Rs 1900-2000 and natural at Rs 2300-2400.

Rajma chitra deshi and Chinese were quoted at Rs 3200-3300 and at Rs 3000-3100 respectively. Red rajma Myanmar were on offer at Rs 2150-2200.Wheat milling deshi were traded at Rs 660-665 whileimported were on offer at Rs 625. Rice AP kattar were traded at Rs 1100-1150 and cultured kolams at Rs 2000-2400.

Yarn quiet

A quietly steady condition continued on the yarn market on poor demand.Operations in Bhiwandi powerlooms were down to around 50 per cent as the workers going on a leave aggrevated the problem caused by the power crunch.Polyester yarn grey first quality of medium-sized units 80dn roto ruled at Rs 83-84, micro roto at Rs 88-90, weft at Rs 77 and warp at Rs 85 a kg.150dn weft ruled at Rs 64-65, warp at Rs 74-75, single roto at Rs 65-66 and double roto at Rs 66-67.