Standard gold fell by Rs 30 to Rs 4,060 per 10 gm. Gold .22 carat was down by same margin at Rs 3,755 per 10 gm. Prices of gold biscuit (116.50 gm.) finished Rs 200 lower at Rs 47,800 per piece. Seasonal buying was at a low ebb following onset of monsoon while reaction in dollar value after recent spurt coupled with weak global advices prompted light profit-taking in the local market. In the international market gold slipped from $260.60 to $258.95 per ounce.

Silver .999 nosdived as prices dropped by Rs 110 at Rs 7,800 per kg. In the ready section silver .916 fell by Rs 45 at Rs 7,690 per kg. Industrial buyers were stayed away at higher level while fresh overseas inflow and weak Delhi and global advices put pressure on the local market, according to dealers. In the overseas market silver closed lower from $5.08 to $5.02 per ounce.

Sugar quiet

A quiet condition prevailed on the sugarmarket as demand remained restricted.

M-30 were placed at Rs 1442-1495 and S-30 at Rs 1425-1440 a quintal ex-godown. Ex-octroi checkpost, the price ruled at Rs 1420-1430 and at Rs 1405-1415 respectively.

In tenders, M-30 were mentioned at Rs 1375-1385 and S-30 at Rs 1355-1365 in Kolhapur line.

Among imported material, White Thai ruled at Rs 1300-1305 ex-Kandla and yellow Brazilian at Rs 1225 on the local market exclusive of sales tax .

G'nut oil declines

Groundnut oil extended losses on the oil,oilseeds market here today. Castorseed and its oil ruled firm in the ready delivery while prices eased in the forward market.

Groundnut oil declined by Rs 2 to Rs 370 per 10 kg on sluggish demand. In Rajkot it was steady at Rs 590/595 per 15 kg.

Imported palm oil reacted from Rs 240 to fresh low level of Rs 234 per 10 kg on continued arrivals at Mumbai port. Reaction in dollar value and weak trend in global market also attributed to the sentiment. Palm oil in the global market were lowe at $390 pertonne for ready delivery and at $387.50 per tonne for long delivery, it was learnt.

Castor oil looked up by a rupee to Rs 378/390 per 10 kg. Supplies remained restricted but buying interest was also at a low ebb today. Castorseed ready placed Rs 5 higher at Rs 1734/1740 per quintal in sympathy.

In the futures section castorseed September delivery reacted from Rs 1765 to Rs 1745 before concluding at Rs 1759 per quintal on bull unloading aided by weak Ahmedabad advices. In the international castor oil future market August delivery was quiet at Rs 392 and October delivery at Rs 399 pe 10 kg.In Ahmedabad September delivery quoted at Rs 1766.50 and in Rajkot it was placed at Rs 1763 per quintal. Traders reported castorseed arrivals of 30000/35000 bags in the Gujarat region today.

Gujarat cottons gain

A steady-to-firm condition was noticed on the cotton market.

Following improved buying inquiries short and medium staple items of Gujarat gained Rs 300 a candy. V-797 rose to Rs 13,100-13,600 a candyspot. Wagad were placed at Rs 12,600-12,700 and Kalan-ginned at Rs 12,100-12,200. Sanker average at Rs 14,500-16,500, medium at Rs 17,500-19,500 and superior at Rs 20,000-21,000 were maintained.

Grains remain static

A dull condition continued on the grains market in the wake of sluggish demand. Prices ruled, more or less, static. Green peas USA Rumba/Heart ruled at Rs 1275-1300 and Canadian at Rs 800-900 a quintal. White peas Canadian found sellers at Rs 881-885. Tur Myanmar were traded at Rs 1875. Urad Myanmar were down by Rs 25 at Rs 1725 on slack demand.

Moong Myanmr ruled at Rs 1650-1750 and Chinese at Rs 1700-1850. Rajma chitra deshi were placed at Rs 2900-3000 and Chinese at Rs 2400. Red rajma Myanmar found sellers at Rs 1900-2000. 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.

Wheat milling deshi ruled at Rs 700-705 and imported ex-dock at Rs 625-631. Rice AP Kattar were on offer at Rs 1050-1150 and cultured kolam at Rs1800-2100.

Yarn easy

Undertone in polyester yarn remained easy on sluggish demand.

Disconcerting marketing environment continued to cast its dark shadow on polyester yarn. The undertone of the market has turned easy despite persistant hike in the price by the spinners. Prices ruled steady, averred trade sources. Grey first quality of medium-sized units 80dn rotoset were placed at Rs 90-92, micro roto at Rs 95-96 and weft at Rs 88 a kg. 150dn weft were on offer at Rs 74-75 and warp at Rs 84-85.