Groundnut oil closed Rs 5 lower at Rs 395 per 10 kg. Sluggish demand and steady inflow attributed to the downward trend. In Rajkot it was subdued at Rs 635/640 per 15 kg.

Imported palm oil remained unchanged at Rs 211 per 10 kg on eased offerings. In the global market it was quiet at $385 per tonne, it was learnt.

Castor oil declined by Rs 6 at Rs 433/445 per 10 kg on lack of overseas interest. Castorseed ready slipped by Rs 30 at Rs 2009/2015 per quintal following reports of renewed monsoon in the producing centers.

In the future section castorseed December delivery reacted from Rs 2032 to Rs 1976 before settling at Rs 1,993 per quintal. In Ahmedabad prices closed lower at Rs 1,966 and in Rajkot it was placed at Rs 1,980 per quintal.In the international castor oil future market, Decemberdelivery eased by Rs 2 at Rs 426 and February delivery by same margin at Rs 430 per 10 kg.

Bullion skyrockets

Unprecedented rally in both the precious metals continued on the bullion market here today amidst tight supplies, brisk speculative activities and news of bullish overseas advices.

Standard gold shot up by Rs 190 at Rs 4,725 per 10 gm. Gold .22 carat was up by Rs 175 at Rs 4,370 per 10 gm. Prices of gold biscuit (116.50 gm.) hardened by Rs 2,250 as prices crossed Rs 55,000-mark at Rs 55,500 per piece. Gold biscuit prices spurted by Rs 6,100 per piece in the last three trading days. Physical and seasonal demand for both the precious metals however remained sluggish but speculators remained active buyers amidst poor supplies followed by bullish overseas advices. Steady rise in dollar value against rupee and hike in the lending cost of imported gold also kept the yellow metal firm. In the global market gold shot up from $293.30 and crossed $300-mark at $323 before concluding the day at$319.50 per ounce, it was learnt.

Silver .999 jumped up by Rs 330 at Rs 8,600 per kg and silver .916 gained by Rs 270 at Rs 8,415 per kg. Industrial buyers were stayed away at higher level. But negligible supplies and higher Delhi and overseas advices kept offerings restricted during the day. In the international market the white metal placed at $5.83 as against $5.44 per ounce previously.

Sugar weak

A dull-to-weak trend continued on the sugar market following increased offerings, coupled with slack demand.

M-30 shed Rs 5 a quintal at Rs 1390-1400 while S-30 were steady at Rs 1370-1380 ex-octroi checkpost. Ex-godown, the price ruled quietly steady at Rs 1401-1470 and at Rs 1385-1415 respectively.

Delivery order rates eased by Rs 5 as M-30 were placed at Rs 1340-1350 and S-30 at Rs 1315-1325 in Kolhapur line.

Grains dull

A dull condition continued on the grains market as activity was thin.Wheat North Gujarat Sonaklyan were placed at Rs 835-861, Tukadi at Rs 850-875 and 496 at Rs865-875 a quintal. MP Lokvan were on offer at Rs 850-900, 147 at Rs 865-900 and Sarbati in the range of Rs 950-1400.

Rice SLO found sellers at Rs 1050-1200, Perimal average at Rs 950-1200 and superior at Rs 1400-1450. AP Kattar were traded at Rs 975-1100 and Cultured Kolam at Rs 1200-1400. AP Masoori were quoted at Rs 1100-1250.

Among pulses, green peas USA Rumba/Heart at Rs 1250-1275, Canadian at Rs 850-950 and white peas Canadian at Rs 1000 were unchanged. Rajama Chitra deshi were in demand at Rs 2100. Red rajma Myanmar unpolished and polished were transacted at Rs 1850 and at Rs 1900 respectively.

Cotton subdued

An easy condition continued on the cotton market following slack demand and rains in Gujarat. The Maharashtra federation has cut the price of old cotton.Latest rains have improved crop prospect in Gujarat inducing fresh selling pressure. This has caused a dent of Rs 200 to 300 a candy in short and medium staple items. V-797 were down to Rs 13,800-14,000 spot. Wagad were placed at Rs13,200-13,300 and Kalan-ginned at Rs 12,500-12,600. Sanker old were static in the range of Rs 19,000-21,400. New Sanker Kadi ruled at Rs 19,500-20,000.

In Punjab zone, arrivals consisted of 2000 bales of Bengal Deshi and 1500 bales of J-34. Bengal Deshi roller-ginned ready price shed Rs 5 a maund. Punjab ruled at Rs 1300-1330, Haryana at Rs 1315-1325 and Rajasthan at Rs 1310-1325. J-34 saw-ginned good average ready Punjab at Rs 1840-1925 and Haryana at Rs 1875-1890 were unchanged but Rajasthan were down by Rs 15 to 20 at Rs 1805-1825.

October delivery Bengal Deshi Haryana and Rajasthan at Rs 1330-1340 and at Rs 1320-1340 respectively were static. Likewise, J-34 Haryana at Rs 1840-1850 and Rajasthan at Rs 1760-1775 were unchanged.New York price registered fresh small to modest improvement. October ruled at 51.73, December at 53.97, March at 55.36 and May at 55.95 cents.

Meanwhile, the Maharashtra federation has slashed the price of old cotton super and FAQ quality by Rs 500 and of fair quality by Rs 700a candy. Trade sources expect a further cut.

Yarn listless

In listless trading price of nylons and viscose hovered around the previous day's levels.