Gold in London dipped to $264 an ounce coupled with inflow of about 1000 kg, imported gold on Wednesday followed by slack demand from local as well as upcountry jewellers, gold biscuit and standard mint gold further plummeted by Rs 25 at Rs 4100 and Rs 4110 per 10 gram, respectively.

Gold sovereign also dipped by Rs 25 at Rs 3650-3675 per 8 gram. New York silver future slipped by 4 cents to 495 cents an ounce, consequently, spot silver .999 dropped by Rs 30 at Rs 7470 a kg and silver weekly delivery, on unloading by the bulls, fell by Rs 35 at Rs 7480 a kg.

Silver coins, however, remained unchanged at Rs 10,300-10,500 per 100 pieces.Mumbai: Gold prices eased on the bullion market here today. Silver also lost gained ground following sharp setback in the global prices. Standard gold fell by Rs 50 to Rs 4,140 per 10 gm. Gold .22 carat was down by Rs 45 to Rs 3,830 per 10 gm. Prices of goldbiscuit (116.50 gm.) slipped by Rs 500 to Rs 48,500 per piece. In the kerb trading, gold biscuit prices were quoted at Rs 47,700 per piece (for cash without bill), according to market sources.

Seasonal buying was petered out while fresh losses in the global prices prompted renewed offerings by stockists and local bankers. In the overseas market gold slid from $267.35 to $265.95 per ounce.

Silver .999 on the other hand reacted by Rs 75 to Rs 7,665 per kg. In the ready section silver .916 was down by same margin at Rs 7,510 per kg in sympathy. Industrial buyers stayed away at the improved level while fresh overseas supplies coupled with weak Delhi advices put pressure on the local market. In the international market the white metal closed firm at $4.98 per ounce.

Non-basmati rice edges up

An easy-to-firm tendency was noticed at the local grains and pulses market on Thursday.

Wheat dara, at the local market looked up from Rs 625-633 to Rs 628-635 a quintal due to restricted supply from theneigbouring states. Wheat was being despatched to Gujarat from Haryana and Punjab. Wheat prices in Bihar and Maharashtra firmed up by Rs 5-7 at Rs 710-725 a quintal.

Similarly, non-basmati rice prices edged up by Rs 10-25 a quintal on good demand from Bihar and West Bengal buyers. Following paucity of quality goods, common quality oats plummeted from Rs 835-980 to Rs 825-960 a quintal.Among pulses, arhar of Maharashtra, dal arhar dara and Patka tumbled down by Rs 50 a quintal due to sluggish demand. Three steamers of imported pulses were reported to have arrived in Mumbai port.

Cottonseed oil falls

Sesame oil slided down by Rs 100 at Rs 3900 a quintal on selling pressure from Calcutta and white sesame suffered a sharp setback of Rs 100 a quintal. Red sesame in Calcutta were priced at Rs 1400 a quintal.

Palmolein in Mumbai dropped by Rs 40 at Rs 2410 a quital, consequently, its prices here dipped by Rs 30 at Rs 2780 a quintal. Similarly, sunflower and cottonseed mill delivery edible oils fell byRs 20-50 a quintal due to dull demand from vanaspati and refining mills. Palmolein in Malaysia ruled easy at $417.50 a tonne.

Mumbai: Groundnut oil suffered fresh losses on the oil,oilseeds market here today. Castorseed and its oil on the other hand spurted in the wake of continued covering by bears and shippers.

Groundnut oil closed Rs 8 lower at Rs 370 per 10 kg amidst sluggish demand, steady summer crop arrivals and hectic offerings of imported edible oil. In Rajkot groundnut oil ruled subdued at Rs 585 per 15 kg.

Imported palm oil slid by Rs 2 to Rs 243 per 10 kg exclusive of tax. In the global market palm oil ruled weak at $422.50 for spot delivery and $417.50 for long delivery, it was learnt.

Castor oil climbed by Rs 2.50 to Rs 390/402 per 10 kg on renewed overseas demand. Castorseed ready shot up by Rs 12.50 to Rs 1794/1800 per quintal.In the future section castorseed September delivery went up from Rs 1809 to Rs 1837 per quintal. In the international castor oil future section, August deliverygained Rs 7 to Rs 386.50 and October delivery at Rs 393 per 10 kg.

In Ahmedabad castorseed September delivery went up from Rs 1810 to Rs 1833 per quintal. In Gujarat castorseed spot delivery placed at Rs 359/360 per 20 kg. Castor oil finished at Rs 389/390 per 10 kg. Castorseed arrivals dropped to 25000/30000 bags in the Gujarat region.

Sugar easy

In the absence of hike in import duty on sugar coupled with incessant inflow of imported sugar at Calcutta-Kandla etc ports, business in mill delivery sugar remained sluggish.

On selling pressure from UP co-operative mills, mill delivery sugar prices revealed an easy tendency. Scattered deals in mill delivery sugar Amroha were settled at Rs 1400, Bulandshahr at Rs 1410, Agota at Rs 1420, Raja at Rs 1395 and Tax-paid Dhampur and Sehora at Rs 1510 and Rs 1475 a quintal, respectively. Imported sugar in Calcutta was quoted at Rs 1525.

Cardamom brown slips

Cardamom brown slipped by Rs 5-10 a kg as ensuing crop prospects were reported bright dueto rains in West Bengal and Assam. Cloves, nutmeg, mace, turmeric, zeera and poppyseeds showed a declining tendency.

Nickel plate rises

Copper wire bar, rod and its wire slipped by Rs 1-2 at Rs 110, Rs 114-116 and Rs 118 per kg due to stockists unloading and poor offtake. Copper utensil, mixed scrap, wire scrap, huny scrap, brass accessories, Bharat scrap also dipped by 25-50 paise per kg.

Aluminium products as well as witnessed slack buying interest and rod, wire, sheet cutting, scrap fell by 25-50 paise per kg. However, on the back of local demand, nickel plate (4x4, 9x9 and 4x24) of Russia were up by Rs 1-3 per kg.

Zinc slab also increased by 25 paise per kg due to stock concerns.