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Our Commodity Bureau
Mumbai, June 12: Gold and silver prices extended recovery in the bullion market here today. Standard gold finished Rs 10 higher at Rs 4,070 while gold .22 carat rose by same margin at Rs 3,765 per 10 gm. in sympathy. Prices of gold biscuit (116.50 gm.) lifted by Rs 100 to Rs 47,800 per piece.
Seasonal demand was sluggish but eased overseas supplies in the wake of prevailing firm trend prompted fresh speculative interest for gold. In the global market the yellow metal moved up from $259.45 to $261 per ounce.
Meanwhile silver .999 climbed by Rs 35 to Rs 7,885 per kg. Silver .916 was up by Rs 75 at Rs 7,740 per kg. Fresh industrial and speculative ingterest lifted the white metal upward while tight supplies and lack of ready stock followed by bullish global advices kept offerings restricted. Delhi was firm and in the overseas market silver placed 4 cents higher at $5.11 per ounce.
Sugar
Generally steady condition was noticed on the sugar makret.Activity was restricted.
M-30 were placed at Rs1441-1500 and S-30 at Rs 1420-1440 a quintal ex-godown.Ex-octroi checkpost, the price ruled at Rs 1415-1425 and at Rs 1395-1410 respectively.
In tenders, the price improved by Rs 3 to 5 on improved inquiries as M-30 were palced at Rs 1370-1375 and S-30 at Rs 1355-1360 in Kolhapur line.
Yarn
A quietly steady condition continued on the yarn market on very sluggish demand.
Polyester yarn grey first quality of medium-sized units 80dn rotoset was difficult to be put through at Rs 90 a kg. 80dn micro roto ruled at Rs 95, weft at Rs 85-88 and warp at Rs 92-94. 80/1000dn and 80/1400dn found sellers at Rs 115-120 and at Rs 120-125 respectively.
In the case of 150dn, weft ruled at Rs 72-73, warp at Rs 82, single roto at Rs 74-76 and double roto at Rs 75-77.
Grains
A quietly steady condition continued on the grains market following slack demand.
Wheat milling deshi were on offer at Rs 690-695 a quintal. Imported milling wheat were quoted at Rs 615-620 ex-dock. Among other wheat, northGujarat Sonaklyan were placed at Rs 725-735 and 496 at Rs 775-800. MP 147 and Sarbati were transacted at Rs 750-850 and at Rs 900-1400 respectively.
Rice Gujarat-17 were well-held at Rs 1900-2200 on tight supply. Perimal average found sellers at Rs 900-1100 while superior Perimal met with support at Rs 1200-1500.
Among pulses, tur Myanmar were on offer at Rs 1850 and urad Myanmar at Rs 1700-1725. Australian gram found sellers at Rs 1200. Kabuli gram A-2 were placed at Rs 3200-3300, B-2 at Rs 2800-2900, C-2 at Rs 1800-2000 and natural at Rs 2200-2300.
Oilseeds, oils
Groundnut oil ruled firm on the oil,oilseeds market here today. Castorseed and its oil on the other hand reacted amidst steady supplies while overseas buyers kept sidelined in the falling market.Groundnut oil moved up by Rs 3 to Rs 370 per 10 kg on tight summer crop supplies. In Rajkot, groundnut oil ruled quiet at Rs 578/580 per 15 kg.
Imported palm oil maintained at the improved level of Rs 244 per 10 kg on eased overseassupplies but demand was dull. Castor oil dropped by Rs 3 to Rs 377/389 per 10 kg in absence of fresh buying interest. Castorseed ready was down by Rs 15 to Rs 1729/1735 per quintal.
In the futures section castorseed September delivery finished Rs 3 lower at Rs 1752 per quintal. In the international castor oil future market both August and October delivery reacted by Rs 7 each at Rs 393 and Rs 400 per 10 kg respectively.
In Ahmedabad castorseed September delivery placed lower at Rs 1,758 but in the kerb deal, prices bounced back to Rs 1769/1770.
In Gujarat castorseed spot delivery was subdued at Rs 340 per 20 kg while castor oil moved to Rs 368 per 10 kg. and traders reported arrivals of 25000/30000 bags of castorseed in Gujarat.
Cotton
A steady condition continued on the cotton market. Mill demand was modest.V-797 ruled at Rs 12,900-13,400, Wagad at Rs 12,600 and Kala-ginned at Rs 12,000 a candy spot. Sanker average found sellers at Rs 14,500-17,000, medium at Rs 17,500-19,500 and superiorat Rs 20,000-21,000.
MP Y-1 were on offer at Rs 17,200-17,300, LRA at Rs 17,500-18,000, H-4 at Rs 19,000-19,500 and MECH-1 at Rs 20,000-21,000.
Punjan J-34 saw-ginned good average ruled at Rs 1720-1800, cart selected in the range of Rs 1800-2050 and Bengal deshi roller-ginned at Rs 1350-1500 a maund.
Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.
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